Thailand's Tax Laws Change Again - What You NEED to Know

About this Video

• Video Title: Thailand's Tax Laws Change Again - What You NEED to Know
• Channel: Retired Working For You
• Speakers: Chris, Luca Dardineti
• Duration: 20:39

Introduction

This video provides an update on Thailand's ever-changing tax laws, specifically focusing on changes impacting expats and those with foreign-sourced income. The video features an interview with Luca Dardineti, a tax expert, who explains recent changes and offers advice.

Key Takeaways

1. Order 161 (2023): This order changed the interpretation of Thai tax law regarding the repatriation of foreign-sourced income. Previously, income accrued in a prior fiscal year was exempt from taxation upon repatriation; Order 161 made this taxable if repatriated after January 1, 2024, and falling under specific income categories.
2. Order 162: Clarified that savings accrued before January 1, 2024, remain tax-exempt upon repatriation, regardless of when repatriation occurs.
3. 2025 Changes: Due to a significant tax shortfall, proposals were made (May/June 2025) to revert to the pre-Order 161 system, potentially even offering a longer grace period (12 months post-accrual) for tax exemption.
4. LTR Visa Changes: Requirements for the Long-Term Resident (LTR) visa, which offers tax exemptions on foreign-sourced income, have relaxed. The previous income requirement of $80,000 per year has been removed.
5. Tax Advice: Proper planning and documentation are crucial for navigating Thai tax laws, particularly regarding demonstrating that repatriated funds are principal rather than capital gains. Seeking professional tax advice is recommended.