Thailand’s proposed global income tax sparks concerns over expat exodus
While the potential changes have raised worries among foreign chambers of commerce, they do not yet appear to be a major issue for incoming FDI
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[BANGKOK] A proposed amendment to Thailand’s revenue code which aims to tax the global income and assets of all Thai residents – including expatriates residing in the kingdom for 180 days or longer – has prompted international chambers of commerce to seek urgent clarity.
In recent months, these groups have actively engaged with the Revenue Department to obtain further details and assess the potential implications of the new tax policy.
The draft legislation, which has yet to be finalised by the Revenue Department, could negatively impact Thailand’s foreign direct investment (FDI) climate and efforts to attract expatriates, such as retirees, to work or reside in the country, say observers.
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