From 1 January 2024, foreign-sourced income repatriated by a Thai tax-resident will be subject to taxation in the same year it is remitted, irrespective of the year in which it was initially earned. Instruction No.161/2566, issued by the Thai Revenue Department this month, significantly alters the previous position that foreign-sourced income is exempt from Thai personal income tax unless brought into the country in the same year it was earned. This could potentially break the traditional practice of deferring remittance of foreign income, says Bangkok law firm Chandler MHM.
News Source：【Baker McKenzie 2023/09/19】