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Remittance of foreign income

Prior to 1 January 2024, a remittance principle applied to income that was remitted during the tax year in which it was earned. A tax resident was only required to pay tax on foreign-sourced income (including income from a foreign employer for carrying out employment abroad, 6.4) if that income was remitted to Thailand. Simply deferring the remittance would result in that income escaping the scope of income tax in Thailand.

On 15 September 2023, the Thai Revenue Department issued Order No P161/2023 and then shortly after Order No P162/2023. From 1 January 2024, tax residents are subject to income tax on foreign-sourced income remitted to Thailand irrespective of the tax year during which that income was earned. This applies only to income earned from 1 January 2024 onwards.

Further clarification from the Thai Revenue Department states that individuals who are residents of Thailand and stay in the country for 180 days or more in any tax year (6.4), with assessable income from work duties or activities conducted abroad or from assets located abroad, must include