The cabinet has approved waiving personal income tax for three foreign groups of taxpayers: high-income earners, retirees and those who want to work remotely from Thailand, said Finance Minister Arkhom Termpittayapaisith.
Mr Arkhom said on Tuesday that the beneficiaries would be considered investors in Thailand as required by the government offering them long-term residence (LTR) visas.
The first group must invest at least US$500,000 (16.35 million baht) in government bonds, property or otherwise in the form of foreign direct investment. They must have amassed at least $80,000 in income over the last two years and have $1 million in assets.
Foreign retirees must be 50 years or over, have an annual income of $40,000 or…
