The Revenue Department of Thailand has issued Order No. Por 161/2023, signifying a significant shift in tax obligations for residents earning income abroad or possessing overseas assets. This directive, signed by the Director-General of the Revenue Department, mandates that specific criteria must be met by individuals living in Thailand who must now report and pay income tax on their foreign earnings.
The primary focus of Revenue Department Order No. Por 161/2023 is the taxation of assessable income earned abroad by individuals residing in Thailand. This directive pertains to SecƟon 41, paragraph 2, of the Revenue Code, which stipulates that individuals must declare income acquired abroad if their work duties, business activities, or assets are based outside of Thailand, and this income was brought into the country in a given tax year.
Key Provisions of the Order
Clause 1: The…
