Thailand’s Revenue Department has announced a proposed tax exemption that will benefit expatriates and tax residents: foreign income remitted to Thailand within two years of being earned will not be taxed.
The change is expected to take effect later this year through a royal decree, but will not apply retroactively. That means foreign income remitted in 2024 remains taxable under current rules, which tax any income brought into Thailand by tax residents—those staying at least 180 days in a year—regardless of when it was earned.
Under the new regulation, only foreign income (such as dividends, interest, and capital gains) brought in more than two years after being earned will be taxed. Capital transfers, such as the original amount invested abroad, will remain exempt.
The reform is part of Thailand’s effort to align with OECD tax standards and attract foreign capital. According to Revenue Department Director-General Pinsai Suraswadi, Thai and foreign residents hold over ฿2 trillion in overseas assets, and even partial repatriation could boost the domestic economy.
The new rule is not in force yet. The final approval is expected by the end of 2025.
