Director-General of the Revenue Department Revealing preparations to collect taxes on Thai people earning income abroad and then bringing the income into Thailand starting in the 2024 tax year in accordance with world rules. Confirming that there will be no double tax collection. If paying taxes abroad No additional charges in Thailand

Mr. Lawan Saengsanit, Director-General of the Revenue Department Mentioning the announcement of the Revenue Department. that has a tax collection plan for Thai people who have income abroad and bring that income into Thailand Tax must be paid in the year the income is brought in. According to the tax collection principles of the Revenue Department and Thailand, 2 tax collection criteria are used. That is according to residence in Thailand for not less than 180 days and according to the principles of revenue recognition worldwide. Thailand has implemented the Emergency Decree on data storage. As a result, the context for tax collection according to these two principles has changed. This is because in the past information on Thai people who had income abroad was difficult to obtain or required request. But now in the era of technology where information is changing. This makes it necessary to change the context in tax collection. According to the development of world taxation rules, Thailand has become a member of the Global forum.

It is confirmed that there will be no double taxation. Because Thailand has double tax treaties with many countries. including important trading partner countries If paying taxes abroad There will be no more double taxation in Thailand. For tax collection rates, you must look at the double taxation contracts with each country, which have different rates. In the short term, there will be action in the form of issuing announcements. But in the long run, it will be a clear tax code. Confirm that all actions are taken to collect taxes that are correct and fair for Thai people, whether investing in the country or abroad and earning income in the same way. You will have to pay similar taxes, which will begin collecting in tax year 2024 and submitting taxes in 2025.

However, after the announcement was made on 15 September. There must be various methods and criteria. More came out. and prepare to invite relevant people Stakeholders come to talk with the Revenue Department in a focus group about what will happen. Including what is the concern? This is because each group has different concerns. In order to make the transition process as smooth as possible. At this time, there is no revenue estimate. This is because it is still an operation regarding principles and methods that must change according to the economic context of the country according to the changing world tax rules.

According to the announcement of the Revenue Department on September 15, 2023, there is a plan to collect additional taxes for people who have assessable income according to Section 40 of the Revenue Code. In the past tax year Due to work duties or activities performed abroad or because of assets located abroad according to Section 41, paragraph two of the Revenue Code The Revenue Department has issued an order for persons residing in Thailand under Section 41, paragraph three, of the Revenue Code who have assessable income due to work duties or activities performed abroad. or because assets are located abroad according to Section 41, paragraph two, of the Revenue Code in that tax year. and has brought that assessable income into Thailand in any tax year That person has a duty to include these assessable incomes in calculating taxes in accordance with Section 48 of the Revenue Code in the tax year in which such assessable income is brought into the country.

“The challenge of tax collection in 2024 is the big picture economy after the NESDB reduced GDP in 2023 to 2.5 - 3.0% from the original expectation of 2.7-3.7%, which we admit will have some impact on tax collection. But the Revenue Department Efforts will be made to increase efficiency and technology in data management (data) and AI to detect irregularities in incorrect tax payments. It is believed that this will happen in the next few months,” Mr. Lawan said.

Source: Thai News Agency