What are the tax implications for transferring money into Thai bank accounts as a digital nomad?

Question

For digital nomads who are transferring money now into Thai Bank Accounts

Lets say you are transferring 60k on low end and 100k on high end every month

After 1 year in thailand how much tax are you liable to pay from that to thai government (so 360k-720k baht transferred in)?

Ask Thailand · Answer

The tax liability for digital nomads transferring money to Thai bank accounts depends on several factors including their tax residency status, the source of the money, and whether they have already paid tax in their home country. There are complexities involved, such as determining whether the transferred amounts are assessable income, and potential tax exemptions based on double tax agreements. The total amount transferred across the year (360k to 1.2 million baht) may fall under various tax brackets. Community members suggest using tools like tax calculators and further research on Thai tax regulations to estimate potential tax liabilities.

Wayne ********* · Answer

It's not that simple to workout

Kool ******* · Answer

It is very simple at this point, but could change in the future. If you have filed income tax in the country you're suppose to, and can prove it, then Thailand doesn't really care at this point.

Chris ********* · Answer

Internet doesn't know because Internet can't read your mind about everything you haven't told it.

Ben *********** · Answer

[url redacted]

Nick ******* · Answer

no one can answer this for you - it depends on the source of the money, whether you have already paid tax on it (or earned it in a year you were not tax resident if you are a new tax resident), whether your home country has a DTA, what exemptions you can claim.  It is complex but there is enough content around (including youtube) that will help you get a feel/estimate.

Dany ******** · Answer

250k baht

Wesley ******** · Answer

Depends on where you’re earning that money and if they have a double taxation agreement. Probably at those amounts 15-20%

Qub ***** · Answer

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John ********** · Answer

You first need to work out if you are a Thai tax resident in the calendar year the money is transferred. You then need to work out whether the money you transfer is considered assessable income or not. You also need to work on your maths 12 months @ 60k per month is 720k, 12 months @ 100k per month is 1,200k. Once you've done all that you need to look at the Thai tax information to work out what exemptions you can claim, the various bands your assessable income falls into and if your income comes from a country with a Dual Tax Agreement with Thailand what if any credit you can claim for tax already paid elsewhere

Greg ******** · Answer

Google UOB Thailand tax calculator and input your numbers. There are many factors involved including allowances in Thailand, DTA etc

What are the tax implications for transferring money into Thai bank accounts as a digital nomad?

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