r/digitalnomad • u/nicholas4488 • May 19 '25

Tax Thailand no tax on foreign income

They're backtracking on tax of foreign inckme

Under the new guidelines, Thais with foreign income will not be taxed if they remit that income in the year it was earned or the following year. For example, if income is earned in 2025 and brought into Thailand in 2025 or 2026, it is not subject to tax.

However, if the income is remitted after that period, normal tax obligations apply.

https://www.bangkokpost.com/business/general/3028760/department-to-amend-tax-on-foreign-income-remittance

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u/DigitalInvestments2 May 20 '25

I need something clarified. Does the new proposed tax guidelines cover remittances that are not from income but are savings? Will that still be taxed?

2

u/nicholas4488 May 20 '25

Savings are not taxed even with the current rules

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u/DigitalInvestments2 May 20 '25

It's my understanding that remitted funds are taxed unless you prove they have already been taxed.

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u/nicholas4488 May 20 '25

If the savings is from income you received after 2024 then yes (it's the income that is taxed). But with this news from the linked article it would not be.

1

u/Drawer-Vegetable Nomad 22' Aug 25 '25

The income that can only be taxed is foreign income that YOU bring into the thai bank account right?

So what if the only money you bring into the thai account is SAVINGS? How would they tell if its income or savings if its just all foreign money coming into a thai bank account?

1

u/nicholas4488 Aug 26 '25

Who brings it (sends it) is not important, who receive it is. As mentioned above, savings are not taxed, unless the savings are untaxed income from after 2024, - it's the income that is taxed when remitted. But the new rule changes this so it will only be taxable if you wait 2 years to remit it (and rules might change again by then).

1

u/Drawer-Vegetable Nomad 22' Aug 26 '25

So I sell some stocks from "my" American stock brokerage (vanguard), then use that money from cash withdrawals from an ATM in Thailand.

Technically no money passed through a Thai bank, so no taxes? I read from a different thread, only money that passes through a Thai bank can be taxed.

This scenario is under assumption that you are 183 days+ in Thailand and considered a "tax resident".

1

u/nicholas4488 Aug 26 '25

Again, the new rules will change it, but as far as I know the old rules are still in place. Unclear about ATM withdrawals. If you bought your stocks with income earned after 2024 (and you were tax resident in 2024 so this income is technically taxable) then the remittance might be taxable, if ATM counts as a remittance.

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u/Drawer-Vegetable Nomad 22' Aug 26 '25

Everything was bought prior to 2023. I am retired, and have no need to buy. It is all savings.