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THAILAND: Income Tax Slashed for High Potential Foreign Residents

04 March 2022



Thailand has approved tax incentives for foreign professionals. According to a National News Bureau of Thailand report on 23 February 2022, foreigners with specialised skills in targeted industries will pay 17% on personal income instead of the current 35%. The new measures also exempt wealthy foreigners with long-term residency (LTR) visas from tax on income or assets earned before moving to Thailand. 

An LTR visa requires investment over US$500,000 in Thai government bonds or real estate, personal annual income over US$80,000 for the previous two years, and US$1 million in assets. Retirees must be over 50, with US$250,000 in government bonds or real estate, and over US$40,000 income or US$80,000 pension annually. 

Foreigners staying to work need over US$80,000 earnings in the preceding two years; or US$40,000 if they have a Master’s degree, own an intellectual property right, or received Series A funding with over five years’ work experience. Those with specialised skills must have over US$80,000 earnings annually in the previous two years, or over US$40,000 with a post-graduate qualification and five years’ work experience in targeted sectors.

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    Topics:
  • ASEAN,
  • Southeast Asia,
  • Thailand,
  • income tax,
  • VISAS
  • ASEAN
  • Southeast Asia
  • Thailand
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Article Topics

ARTICLE TOPICS

ASEAN37801
SOUTHEAST ASIA36184
THAILAND36194
INCOME TAX92918
VISAS150448

ARTICLE TOPICS

ASEAN37801
SOUTHEAST ASIA36184
THAILAND36194
INCOME TAX92918
VISAS150448

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