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

Having 2 million baht in a Thai bank account does not directly incur taxes on the principal amount. Instead, expats are subject to withholding tax on the interest earned, which is typically at a rate of 15%. On an account with 2 million baht, the tax on interest earned would be minimal, usually around 750 baht per year based on current rates. Additionally, if an expat is a tax resident (i.e., residing in Thailand for more than 180 days), there may be taxes to pay on other income remitted to Thailand.