Thailand's revenue authorities have recently introduced new guidelines with significant implications for US expats and digital nomads earning income from abroad. Under these guidelines, all income originating from foreign sources will now be subject to personal income tax in Thailand.

A high-ranking official from the Ministry of Finance has officially confirmed the accuracy of a document released by the revenue department over the weekend.

According to this document, individuals who receive income from foreign employment or business activities, or those who possess assets located abroad and subsequently bring these assets into Thailand, are now required to include these earnings and assets when computing their annual personal income tax obligations.

The implementation of this program is scheduled to commence on January 1, 2024, and it will exclusively affect individuals classified as tax residents in Thailand. It's essential to note that tourists and short-term workers in the country will be exempt from these tax changes.

Currently, there is some uncertainty regarding how these changes will impact foreign individuals residing in Thailand under a retirement visa. This is an evolving situation, and we anticipate further updates as more information becomes available.