On January 13, 2025, Thailand’s Cabinet approved significant updates to the Long-Term Resident (LTR) Visa program, reflecting the country’s commitment to attracting skilled professionals, global investors, and their families. These changes aim to foster increased foreign investment and support Thailand’s long-term economic growth. The new criteria will take effect upon publication in the Government Gazette, […]
The Easy E-Receipt 2.0 program, effective from January 16 to February 28, 2025, is a government initiative designed to offer personal income tax deductions for eligible purchases. Introduced under Ministerial Regulation No. 397 (B.E. 2568), this policy enables taxpayers to claim deductions using e-tax invoices and e-receipts issued by registered companies. This article outlines the […]
The recent election of President Donald Trump heralds significant potential shifts in U.S. international tax policy, particularly affecting American expatriates residing in Thailand. Historically, the United States has adhered to a citizenship-based taxation system, obligating all U.S. citizens, regardless of their residence, to report and pay taxes on their worldwide income. This framework often results […]
I. What is the Global Minimum Tax? The Global Minimum Tax (GMT) represents a transformative approach to international taxation, targeting multinational enterprises (MNEs). Initiated by the Organisation for Economic Co-operation and Development (OECD), the framework aims to enhance fairness, reduce tax competition between countries, and address profit shifting. Thailand is a signatory to this initiative, […]
I. Current Tax Collection Regime in Thailand Thailand’s personal income tax system incorporates both territoriality and residency-based principles: ✓ Territoriality (Source-Based): Tax is imposed on all income generated within Thailand, regardless of the taxpayer’s residency status. ✓ Worldwide Income (Residency-Based): Residents must report foreign-sourced income if it is remitted into Thailand, regardless of the tax […]
The electric vehicle (EV) industry has become a cornerstone of global efforts to transition toward sustainable and environmentally friendly transportation. In this context, Thailand’s Board of Investment (BOI) has taken strategic steps to position the country as a major player in the EV supply chain. Recently, in collaboration with GAC AION, a leading Chinese EV […]