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What are the current tax implications for expats transferring savings to Thailand after January 2024?

Mar 21, 2025
12 days ago
Paul *******
ORIGINAL POSTER
just left the local revenue office.

here's what they asked

1. Any income from Thailand? No

2. Any monthly pension? No

3. Is the money coming in from savings on income before 1 January 2024? Yes

I showed them a print out of my ATM withdrawals and my WISE transfers.

No need to file or pay tax in Thailand due to transferred funds and ATM withdrawals coming from existing savings.
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TLDR : Answer Summary
An expat recently reported their visit to a local revenue office in Thailand, where they confirmed that they do not need to file or pay taxes on their funds brought into the country from savings accumulated before January 1, 2024. The clear distinction made by the Thai authorities is that any money accumulated prior to this cutoff date is exempt from tax. However, the conversation also highlighted the importance of understanding tax treaties, particularly regarding pensions and income earned after this date, which could be subject to tax depending on the specifics of the individual's situation and the agreements between Thailand and their home country.
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Andy **********
Good information thanks.
Robert ********
That’s what wanted to do, but it ended differently.

The first lady (damnit why is my phone capitalizing that?) accepted it and said “done”. But I wondered how I could prove that I “paid taxes” without paperwork!

An hour later the boss of the Buriram revenue office had compared the taxes I paid in Switzerland (on the full amount I get) and those for Thailand (only on what I transferred) and I had a paper in hand that stated 0 taxes, plus a good laugh for “you can try to get back the 38k taxes you overpaid in Switzerland”.
Tony *******
Some helpful info here thanks for the content
Wayne ***********
Paul - thanks for your commentary irrelevant of what others say - it’s good to share info, folks can decide what choices to make with a little more info. Good luck bud
Paul *******
ORIGINAL POSTER
@Wayne **********
thanks. I'm happy that I made the effort to at least visit the local office.
Albert ********
My answer to ? 2 would be yes , but it is a municipal government type pension, the other is SS. I’ve read a government type pension is not taxable in Thailand due to dual tax agreement
Ian *********
UK has a tax agreement with Thailand so no tax due
Frank *********
And ??
Julian *******
If you live more than 180 days in Thailand in one year you have to get a TIN and file a return , my income is from inheritance before the 1st January 2024. I have completed the form with an explanation. It’s in English, my local tax office doesn’t speak English, they had no clue of the dual tax arrangements with the uk nor did they have any upto date forms. But by law I need to complete a return which I did.
Paul *******
ORIGINAL POSTER
@Julian ******
that’s not what I was told yesterday at the Revenue Department.
Mark ********
@Julian ******
Not always necessary to file a return. Only if you have assessable income.
Ian *********
@Mark *******
what exactly s 'assessable income' ?
Mark ********
@Ian ********
A summary of taxation which might affect foreigners is given here. This needs to be read in conjunction with your relevant DTA

*****************************************************************************************
Yohanan ***********
Why would anyone allow themselves to be taxed by Thailand? Many other countries that are cheaper to live in and actually want you there
Penne *******
Doesnt the dtv require person to have minimum amt of money in a thai bank acct---which would then be taxable? Thx.
Mark ********
@Penne ******
Money is in your home country bank account
Martyn ***********
Well that's pissed on a load of 'know it all's' bonfires hasn't it... 😂🤣😂
Charlie *********
From everything I’ve read, It is monies earned in or remitted to Thailand being taxed, whether it is from savings or income. Monies earned or saved outside of Thailand and never brought into Thailand are not taxed.

Savings are taxed only in the amounts that are remitted to Thailand by whatever means (transfers or ATM withdrawals) and only those savings deposited in whatever type of savings account after 1 January 2024.

“Retirement” income is taxed, again, only in amounts remitted to/brought into Thailand, depending on any tax treaty with your home country that may make it exempt, and if taxable, double-taxation prevention considerations apply (as they do with other types of monies brought into Thailand.)
Erik *******
If the question was slightly different : « is the money coming in from savings or incomes realized after 1 Jan 2024 ? » and if the answer was yes, tax liability (depending on Dual tax Agreement) would be a sure thing.
Charlie *********
@Erik ******
I think it is monies saved after 1 January 2024, AND brought in to Thailand. Thailand has double-taxation prevention rules in place.
Erik *******
@Charlie ********
Double taxation is not for everybody (not every country) and every dual tax agreement is different (tax different things)…
Charlie *********
@Erik ******
I wouldn’t presume to say every Thai tax rule is for everyone, and I didn’t. I did say that Thailand has double taxation provisions in place to prevent double taxation. And they do. Whether they apply to any individual or not is up to them to find out. I sure hope NOBODY takes any FB comment as the final word on ANY subject.
Charlie *********
I meant that to say “good point,” lol, but it looks pretty snippy now that I read it back. Thanks.
Peter *********
Why you even go tax office? 😒
Andy ******
@Peter ********
guess he is American 🤣
Paul *******
ORIGINAL POSTER
@Andy *****
you're 50% correct
Alan *******
UK Pensioners should bear in mind the following Annual allowances: Thb 120k Marriage Allowance. 190k Over 65 and 150k Thai Tax Allowance . I was the 1st at my local Revenue Office. They didn't have a clue LOL.!

Going to be there a long time explaining DTA!
Alan *******
150K Thai Tax Allowance. (120K Marriage Allowance ) is what I quoted.
Ian *********
@Alan ******
i thought the lowest amount was 150k, not 120k?
Brad *******
@Alan ******
why would you even bother trying to explain it to them? If it’s really a law and enforceable then they’ll know what to do.
Alan *******
@Brad ******
did you read 📚 ? They hadn't got a clue.
Mark ********
@Alan ******
You've done your best. Do like most and don't bother filing a return. Nothing's going to happen
Brad *******
As it was said by the government, they’ll gladly take your money if you trot down to the office with your checkbook out. Other than that, no…
Charlie *********
@Brad ******
Exactly. And I’d bet that 35-year visa overstay has been saying the same thing about getting a visa all of those 35 years…, until he just recently got arrested. No criticism, we all have our risk levels when deciding which laws to obey. Take your chances. But I think I might rather pay a little each year than take a chance of Thailand getting it together, and being subject to audit later. Seems like those kinds of things come in waves in Thailand. I wouldn’t want to get caught in one.
Michael *******
That’s correct, I remit 65k a month from my pensions, which takes care of my retirement visa, I dont touch pre 2024 investments……..as that income has already been taxed in the UK it’s a credit against any Thai tax payable, which after allowances is 25k so impact is zero…….but I file a return to stay tax compliant here, don’t want to get bitten down the line…….which is a personal choice
Charlie *********
@Michael ******
I won’t file at all, as I will have only tax-exempt (by tax treaty) pensions from which I will bring money into Thailand. Savings/investments, and their interest/dividend incomes are no issue at all if they are not a part of any monies brought in. It will be quite easy for me if anything comes up in the future. I need only show my sources and amounts of income. Unless what I bring in exceeds those sources (showing them that I have other sources that may not be exempt) no problem.
Michael *******
Correct, I have to file a return before they determine that the DTA entitles me to a refund (due to diff tax years- UK is Apr to Apr) they emphasized that income pre 2024 is not taxable, which was also my understanding……so I declare my 65k a month and it’s tax free under the DTA. No sense in pissing off the taxman……….
Mark ********
@Michael ******
That's strange. I think revenue offices are like immigration - they all make their own rules. I went to my closest office and enquired, just showed pension statement and the
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baht transfers and they sent me away, said form not needed. I'm happy with that!
Michael *******
@Mark *******
I filed on line , don‘t want issues down the road too much at stake with property and family here…..
Charlie *********
@Michael ******
Haha, I’ll never criticize for being over-careful with any tax authority. I might have something funny to say if you are so overcareful that you only go outside wearing a helmet for fear of crashing planes, but not for this.
Michael *******
Yip, I have worked as an expat for many years, especially in developing world and tax authorities can be brutal once they have you in cross hairs……..I have taken advice and acted on it, everyone to their own……..
Charlie *********
@Michael ******
It’s only savings deposited before 2024 that’s non-taxable. If you were a Thailand tax resident for the tax year 2023, other monies above your pre-2024 savings amount remitted to Thailand is taxable income (subject to whatever exemptions that may or may not apply). If all of your money brought into Thailand is part of savings that was saved pre-2024, you’re good to go. Is that what you’re saying, just differently?
Mark ********
@Charlie ********
All depends on your DTA. I get a pension from NZ which is not taxable in Thailand, so I don't need to file a return.
Charlie *********
@Mark *******
Though I have read that we may need to be able to show our source(s) of income, eventually, to prove it. (If our remittals/ ATM withdrawals are more than the amount of the tax-exempt source, it will be a red flag for them.) It would pay to be prepared just in case. Printing out a statement from the tax-exempt source should do it.
Charlie *********
@Mark *******
Yep. Mine are US gov pensions. Same here.
Brad *******
@Charlie ********
apples and eggs…
Charlie *********
@Brad ******
Not the point, is it? If you steal an apple OR an egg, you may get caught later.
J **************
Not helpful to the 99% of us who bring in monthly funds
Jim ********
@J *************
Most pensioners are ok
Stenbjorn *********
@Jim *******
could you please explain a little better. In what sense are "most pensioners ok"? Should we declare, and pay tax here, on pension earned in and brought over from our country? Or should we not?
Jim ********
@Stenbjorn ********
Not knowing which country you're from I don't know. You need to read the DTA relevant to your country which determines if your pension remittances are assessable income in Thailand
Stenbjorn *********
@Jim *******
ok! I just thought they were mostly the same.
Jim ********
@Stenbjorn ********
This is an extract from the OECD model convention on which DTAs are based, often with some modification to the wording to suit individual country's situations. Unfortunately the section on pensions has been excluded from some countries DTAs, most notably the UK, so UK pensions are taxable in Thailand
Stenbjorn *********
@Jim *******
thanks a lot, great answers. I know that pensions are included for Sweden. So I should be good. I will follow your advice and check more carefully. But I will start in Sweden, since the treaty will be well known by the tax experts there. And those I will find easily.
Jim ********
@Stenbjorn ********
Every country has its own DTA with Thailand. All I know for sure is Australia, NZ, US, Canada and Germany pensions are only taxable in the country in which they're paid. In these cases there is zero assessable income and hence no tax return is required
Paul *******
ORIGINAL POSTER
@Stenbjorn ********
go and ask your local Revenue Department 😀
John **********
@Jim *******
many pensioners are not OK. All depends on what the dual tax agreement between the country that pays the pension and Thailand says
Jim ********
@John *********
Many pensioners ARE ok! There's a few (mainly British) who aren't. As has been pointed out US, Australia, NZ, Canada, Germany are all good! That's a lot of pensioners! 👍👍
Ian *********
@Jim *******
why are british not ok?
Jim ********
@Ian ********
The UK Double Tax Agreement with Thailand does not include the standard article on Pensions and Annuities, which means UK pensions are assessable for tax in Thailand (if transferred into Thailand). It mentions only pensions for "Government Service" - in other words only civil service pensions are exempt from taxation
Ziggy ********
John **********
@Jim *******
US pensioners are ok for ss. They're not ok for all types of pensions
Charlie *********
@John *********
All gov-sourced monthly pension-type income. If it’s not government-sourced, then no.
Jim ********
@John *********
You seem to enjoy spreading misinformation don't you? Read the DTA. Article 20 deals with SS and pensions. Article 21 deals with government pensions.
John **********
@Jim *******
and nowhere in there does it cover private pensions. No misinformation. Just pointing out that the DTA only covers a specific situation
Jim ********
@John *********
It says "pensions" which is all pensions, except government pensions which are subject to article 21. Sorry to say, you're not the sharpest knife in the kitchen drawer
CjandBrigitte **********
@Jim *******
If you get a pension and you have not paid any tax on your pension in the 2024 financial year in your home country, you are liable for that tax in Thailand if you live here for more than 180 days. There are quite a few credits that you can claim. This incudes expats here that we know that has been to the Tax office Astralian and Canadian that have to pay tax here.
Jim ********
@CjandBrigitte *********
Don't know what country you're from, but Australian DTA the pension is only taxable in the country where it's paid, so tax credits don't come into it which is just as well as Aussie pensions are tax free after 60. I'm also an Australian Tax Resident, so the DTA gives precedence to that over Thai Tax Residency
John **********
@Jim *******
it says pensions in consideration of past employment. That doesn't cover all pensions. Another sweeping statement from you
Jim ********
@John *********
Pensions are generally attached to employment. I don't know of any pension scheme which is not associated with employment, except state pensions which are associated with residency, citizenship etc. The Australian DTA has no reference to employment, so the Australian age pension would also be exempt from taxation in Thailand
John **********
@Jim *******
my pension is not attached to employment, it's a personal pension which is actually very common in the UK, no idea about you ausies
Jim ********
@John *********
No. As far as I know all superannuation pensions are through the employer. You can now choose which scheme to join (that's a relatively new law) and provide the details to your employer.
John **********
@Jim *******
specific to Australians though
Jim ********
@John *********
The same rule appears in many DTAs. US, Canada and NZ amongst them. I think it's only UK that has stuffed up very badly
Mark ********
@John *********
He's right. NZ is the same. I guess self-managed pension schemes might be different but they're as rare as hens teeth. Most pension superannuation schemes are through the employer to get tax benefits. I've been to the revenue department here in Bangkok and they sent me away, said I don't have to do anything. Those DTAs are great
Richard *********
J **************
@Jim *******
the information you presented does not show that
Jim ********
@J *************
It's in the DTA. I haven't presented any info!
John **********
Savings accumulated prior to 1st January 2024 are exempt from tax. Savings accumulated after this point will inevitably have an income element so will potentially have a tax liability
Leatrice *****************
@John *********
do you mean the INTEREST earned from the savings in the bank, is taxed ?... We would have already paid tax on the money we put in the bank as savings that was earned, so it sounds like the savings would be taxed twice ??? 🤔
Charlie *********
@Leatrice ****************
It’s a good question, put that way (I said the same thing in another comment). In all the tax stuff I’ve read the past few months, those who talk about it dont explain this. It’s never brought up except to say “what you bring in will be taxed, including from a savings account.” Nothing I’ve read says “unless it was already taxed as income.” But I’m sure I haven’t seen everything. There might be something else out there….
John **********
@Charlie ********
whether it's already been taxed or not doesn't matter, it's still assessable in Thailand. Then if the country the income is from has a tax agreement with Thailand you can claim a credit for the tax already paid on that income
Charlie *********
@John *********
I got that (and thought I said so, lol). It was actually explained better yesterday by someone else. “Income” for Thailand means any money you bring into Thailand, whether it’s considered income or non-taxable savings in your home country or not (still subject to tax treaty details). Maybe Thailand should change the word to “incoming,” lol.Thanks!
John **********
@Leatrice ****************
yes interest is assessable income as far thai tax is concerned. But I don't just mean interest, it could also be savings made from earnings etc
Charlie *********
@John *********
Savings are derived from income. Whether they are income or not doesn’t matter. If they are accumulated before 1 January 2024, they are tax exempt. If they are accumulated 1 January 2024 and after, any amount you bring into Thailand from them is taxable.
Jo **********
@Charlie ********
NO if you can show that savings was accumulated after taxes.
Charlie *********
This is obviously different within home countries where savings has already been taxed as income. And savings IN Thailand are likely not taxed if they’ve already been taxed as income in Thailand. But it looks like Thailand doesn’t make that distinction for foreign-earned and already-taxed income that become foreign savings. If you are bringing it in to Thailand from another country, they want to tax it.
John **********
@Charlie ********
the only distinction is that you can claim a credit for tax already paid in another country on any assessable income you remit to Thailand
Charlie *********
@John *********
I wonder if there is a provision for that on savings derived from income that was already taxed and not further taxable in one’s home country (except for the earnings on those savings). It’s not something I’ve seen yet.
Charlie *********
(John, my comment was answering the replies to yours, it wasn’t meant specifically for you. You obviously already know)
Jon ********
@John *********
How does that work? Savings are not income
John **********
@Jon *******
savings generally have an income element, how did you manage to accumulate said savings?
Pui *****
@John *********
Savings doesn't have to be income. If you had
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USD or GBP saved in your bank account prior to 2024, how is that considered taxable income, if you accumulated that prior to
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/24? Especially if the savings was not in an interest-earning account, but rather in a checking or current account that did not earn any interest, and is purely unspent money (principal)?
Billy *******
@Pui ****
I think the pre-2024 savings principal will always be tax free when remitted in the future, regardless of if it was in an interest earning account. It's the interest earned from the principal that would be taxed if remitted instead of remitting the principal pre-2024 savings.
Philip *******
@Billy ******
the pre 2024 is relevant to money transferred in 2025. So if it's money you had before 2024 it's not taxable in 2025 next year money you had prior to 1st January 2025 won't be taxable if transferred in 2026
Billy *******
@Philip ******
that was how things were previously but not anymore. Only savings pre-2024 can be remitted in the future without Thai tax obligations now, where previously it is as you mentioned where sending the previous years money into Thailand the following year wasn't taxable but that's not the case anymore.
Tony ********
@Philip ******
that unfortunatly is the rule change, the pre 2024 date for non assesable is now static, (it used to basically increase each year). So only monies that were accumalated prior to 2024, can be treated as non taxable. Monies accumalated in
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and remitted the following year maybe taxable at the end of the year based on their source.
Philip *******
@Tony *******
my account here tells me that if I leave money in home country for the year then transfer it following year it's not considered taxable. I tend to put my faith in their thorough knowledge of thai tax law they also in January attended a 2 day seminar to provide the latest tax laws and interpretation for foreign earned income by expats and the dual tax situation
Tony ********
@Philip ******
i'd get a new accountant, that is the only change that has been made, and the cause of all the discussions around taxation in the last 18 months. If you have money that would be assesable if you bring it into Thailand in the year it was gained, it will remain assesable if you delay bringing it until following tax year. (It doesn't become non-assesable now, like it used to).
John **********
@Pui ****
where did the savings come from if they didn't already exist prior to 1st January 2024
Joseph ****
@John *********
A lot of the all-day-long drunks are showing up here while their fingers can still find the keys on their keyboards.
Pui *****
@John *********
Not considered income if the source of funds is: inheritance, gift, selling possessions (generally not considered income in most countries), and in some countries, alimony payments, child support payments, healthcare benefits, among other categories.
Peter ***********
@John *********
Might have been a gift from Aunt Maud?
Jon ********
@John *********
I have no idea what you’re attempting to say. I’m an Enrolled Agent.
Joseph ****
@Jon *******
You meant to say "committed patient."
Jon ********
John **********
Garrett ***********
@John *********
Savings isn't income.
Tony ********
@Garrett **********
in the context of filing a tax return, any monies that you acumalate and don,'t spend (aka savings) after the
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/24 may be subject to tax after remitting it to Thailand, depending on whether the initial source is assesable or non-assesable. Monies accumalated and not spent (savings) prior to
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/24 or prior to being a tax resident are non-assesable regardless of original source after remitting to Thailand. The word income reflects you receiving incoming money from a foreign country regardless of original source.
Gordon ***********
@Tony *******
if I transfer from a pension fund saving account in UK to a UK savings account to a thai bank account for retirement visa ext purposes,.. is that classed as income? I havent worked for years , no income just living off savings.
John **********
@Gordon **********
money from a pension fund is income
Charlie *********
@Tony *******
This makes sense (though unfair to the taxpayer). And the first thing I’ve seen that explains it. Thanks.
Andi ***********
Good to know..Thanks.
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