What To Know About International Taxes in Thailand
If you are a foreigner who earns income while in Thailand, it could be very beneficial for you to learn about Thailand’s international tax regulations. I’m sure that you want to make sure you properly understand and pay taxes in your home country, so it is even more important to ensure that you understand these regulations in a foreign country.
Thailand’s International Tax Laws
Thailand requires both residents and non-residents alike to pay income tax on all Thai-sourced income. This is true regardless of whether the income is paid in Thailand or abroad.
In addition, any foreigners who are Thailand residents are required to pay income tax on any foreign-sourced income that is paid within Thailand or remitted to Thailand in the same year that it was paid. Residents and non-residents in Thailand are subject to a maximum tax rate of 35 percent.
Rely on a Finance Service Provider
The good news for foreigners is that you don’t need to stay up-to-date on all of Thailand’s international tax regulations by yourself. The legal language can be difficult to understand and is updated frequently, so it is much more convenient to rely on a financial advisor to help make sure that you are in compliance with Thai taxation laws.
There are many excellent combination legal and financial firms in Bangkok that can assist you and your company with filing taxes and staying compliant with local regulations. Take a look at some of the options available, and make sure you follow all international tax requirements during your stay in Thailand.