Do you have to pay taxes in Thailand if you have 2 million baht in a bank account?

If you have 2 million baht or more in a Thai bank account, you do not pay tax on the account balance itself. However, you will incur withholding tax on any interest earned, which is currently at a rate of 15%. For example, with 2 million baht at the low interest rates available, this could result in a tax of around 750 baht annually on the interest earned. Additionally, if you stay in Thailand for over 180 days, you may become a tax resident and could be subject to taxes on money transferred to Thailand, depending on whether it is assessable income.