PUBLISHED : 19 Sep 2023 at 06:38
The Revenue Department has ruled that a person who resides in Thailand for up to 180 days a year and earns overseas income from work or assets will be subject to personal income tax, according to Section 48 of the Revenue Code.
According to legal experts, the policy appears to have three specific targets: residents trading in foreign stock markets through foreign brokerages, cryptocurrency traders, and Thais who have been exploiting a loophole that allowed them to bring foreign earnings into the country tax-free after keeping it in an offshore account for more than a calendar year.
“The principle of tax is that you must pay tax on income you earn from abroad no matter how you earn it and regardless of…
