The Ministry of Higher Education, Science, Research and Innovation (MHESI) and NXPO, in partnership with the Revenue Department, recently hosted a seminar on tax for foreign income by Dr. Nathanan Junprateepchai, a legal expert from the Revenue Department. The seminar was inaugurated by NXPO President Dr. Kittipong Promwong and attended by distinguished guests, including Prof. Dr. Chachanat Thebtaranonth, NXPO Advisor, and Mr. Robert C. Fox, a representative from the Joint Foreign Chambers of Commerce of Thailand (JFCCT), along with online participants.
The seminar aimed to disseminate information on the foreign income taxation to expatriates residing in Thailand and Thai nationals investing overseas. The tax scheme has been designed to attract foreign experts to work in Thailand.
Dr. Kitipong remarked that the seminar aimed to enhance understanding of the new tax regulations pertaining to foreign income, which became effective on 1 January 2024. These new regulations have implications on foreign experts engaged in science, technology and innovation projects in Thailand for 6 months or longer, as well as retirees relocating to Thailand. Therefore, NXPO and the Revenue Department organized this seminar to provide comprehensive and accurate information on foreign income taxation. This information is also valuable not only to Thai individuals investing abroad but also to potential foreign experts and investors interested in working and investing in Thailand.
Throughout the seminar, Dr. Nathanan presented the fundamental principles of income tax collection, income recording, tax calculation, exchange rates and various income categories.
Additional information on foreign income taxation can be found at the following links (available in Thai language):
https://www.rd.go.th/fileadmin/user_upload/kormor/newlaw/dn161A.pdf
https://www.rd.go.th/fileadmin/user_upload/kormor/newlaw/dn162A.pdf
https://www.rd.go.th/fileadmin/user_upload/lorkhor/newsbanner/2024/1/QnA161-162-1.pdf
