Taxation in Thailand

An individual is deemed to be tax resident in Thailand only if he stays in Thailand for an aggregate period of not less than 180 days within a calendar year. Any Thai or foreign individual who derives assessable income from sources in Thailand or for work performed in Thailand is liable to pay personal income tax, whether or not such income is paid within or outside Thailand. In addition, a resident of Thailand is liable to personal income tax on assessable income derived from sources outside Thailand and remitted into Thailand in the same year in which such income is derived (remittance in the following year is not subject to tax). The same logic applies to all types of income (incl. pensions, capital gains, interest etc.). They are tax free if they are earned abroad (from foreign sources/companies/shares) and not brought into Thailand within the same tax year.

  • Personal income tax rates are progressive up to a maximum of 35%
  • Thailand does not levy a net wealth tax
  • The corporate income tax rate in Thailand is 20%
  • Value added tax is 7%

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