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Thailand - Overview and introduction

Thailand - Overview and introduction

Taxation of international executives

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Taxation of international executives

Thailand imposes an income tax on the Thai-sourced income of both resident and non-residents individuals, regardless of whether such income is paid in or outside of Thailand. Residents are also subject to income tax on foreign-source income that is paid in or remitted to Thailand within the same calendar year in which the income is paid. The maximum tax rate applicable to both residents and non-residents is 35 percent.

Income derived from a duty, post, employment, or office performed in Thailand; or from a business or an employer’s business carried on in Thailand; or from property located in Thailand; is regarded as income sourced in Thailand.

An individual, resident or non-resident, who derives assessable income from their employment in Thailand, is subject to personal income tax on the whole amount related to their employment in Thailand.

The official currency of Thailand is the Thai Baht (THB) or Baht (B).

Herein, the host country/territory refers to the country/territory to which the employee is assigned. The home country/territory refers to the country/territory where the assignee lives when they are not on assignment.

© 2020 KPMG Phoomchai Tax Ltd., a Thailand limited liability company and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.

KPMG International Cooperative (“KPMG International”) is a Swiss entity.  Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm.

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