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Sir, I looked onto the tax chart where my income is at, 20%. I have a retirement OA visa that cannot earn any income while in Thailand. All my sources of income comes from SSI and a small annuity. I wire transfer money into a USD account and then do a transfer into a Thai account each month to show immigration my minimun income is above 800,000 baht per year. Looking at that tax chart of 20%, do I have to pay 192,000 baht per year for tax?
Answers (1)
Posted Tue, Jul 30, 2024 11:30 AM
Orders Nos. Por. 161 and Por. 162 of the Revenue Department, issued under Section 41, Paragraph 2 of the Revenue Code, stipulate that individuals required to pay tax based on overseas income are defined as follows:
- An individual who earns income from overseas starting from January 1, 2024, and resides in Thailand for at least 180 days within the tax year; and
- An individual who earns income and transfers such income into Thailand within the same fiscal tax year or subsequently.
Result: If this is the case, the income transferred into Thailand will be subject to personal income tax in Thailand in the year the transfer occurs.
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