Is foreign income taxed from January 1st, 2024?

Accounting, Investment, Property, Retirement, Tax , , , , ,

Effective January 1st, 2024, any foreign-earned income [example; salary, interest earned on savings, capital gain on assets etc] brought into Thailand that was earned and realized during any tax year, shall be subject to Thai personal income tax [ PIT ] assessment in the year it was brought/sent to Thailand. The main difference between this law previously and moving forward [from 1st January, 2024], is that personal income tax on any/all foreign-earned income shall now be applicable regardless of which [fiscal] year that income was earned and realized.

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Is apartment ownership possible in Thailand?

Apartment, Investment, Property , , , ,

Traditionally, ownership of an Apartment in Thailand has been all but impossible. Why? Predominately because the Building Permit was issued for the entire building, not for each/every apartment within the building. As a result, those interested in purchasing an Apartment had to engage via a complicated contractual structure in order to cover all implications, like; a) a Sale & Purchase Agreement, b) a Shareholder’s Agreement, c) a Co-ownership Agreement and d) a Homeowners Association Agreement.

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