A recent survey from Thai Examiner reveals that 55% of foreign expatriates in Thailand plan to leave in 2024 due to new tax liabilities. Many hesitate to file tax returns by the March 31, 2025, deadline. This raises concerns about potential revenue shortfalls for the government.
The poll included current expats and those considering a move to Thailand. It shows widespread reluctance to comply with the new tax requirements. The government acknowledges that it has not met its 2024 tax collection targets, partly due to fluctuations in the exchange rate.
Starting January 1, 2025, all foreign residents who stay in Thailand for over 180 days must report their income from the previous year. These changes are part of an economic reform strategy. The goal is to align Thailand with OECD standards and incorporate the informal economy into the tax system.
Source: Thai Examiner
