New Rule on Tax Payment from Overseas Income

The Revenue Department issued its Order No. Por. 161/2023 re: Payment of Income Tax under Section 41, Paragraph 2, of the Revenue Code dated 15th September 2023 to set up a new rule on payment of the personal income tax from overseas income.  The order will come into force from 1st January 2024.

Under this new rule, each Thai tax resident (a person who resides in Thailand at least 180 days in any tax year of 1 January to 31 December) who receives income from employment abroad or a business carried out abroad or a property located abroad (“Overseas Income”) will be liable to payment of the personal income tax in Thailand on such Overseas Income in the tax year when it is brought into Thailand.

This rule applies to both Thai citizens and non-Thai citizens who are Thai tax residents.  However, it does not apply to a Thai or non-Thai legal entity.

Prior to this order, a Thai tax resident who had Overseas Income was subject to the personal income tax in Thailand only if the Overseas Income was brought into Thailand in the same tax year in which the income was received.  In other words, if the Overseas Income was brought into Thailand in any following tax year, it would not be taxable in Thailand.



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