On January 1, 2024, the Thai government enacted a sweeping fiscal reform. The Thai Revenue Department (TRD) is reportedly drafting a royal decree that would change how foreign income transferred into Thailand is taxed. The aim is to stimulate investment and attract more capital into the country.
The proposed reform would exempt Thai nationals from paying tax on foreign income transferred to Thailand, provided the funds are repatriated either in the year the income is earned or the following year. For example, foreign income earned in 2025 and brought into Thailand in 2025 or 2026 would not be subject to taxation. However, income transferred beyond this window would become taxable again.
But does this exemption extend to foreign residents? The draft legislation remains open to interpretation. Some observers point to ambiguities over who is actually covered by the reform. Others argue there is little doubt: the determining factor is tax residency. According to this view—apparently shared by the government—anyone who qualifies as a tax resident in Thailand would be liable for tax on foreign income brought into the country. Under current rules, foreigners who spend at least 180 days in Thailand within a calendar year are considered tax residents.
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