Chandler MHM


Thailand Revenue Department’s Latest Order Expanding the Tax Assessment of Individuals’ Foreign Source Income

On 15 September 2023, the Thai Revenue Department (RD) issued RD order no. Por. 161/2566 (the “New Order”) providing new guidelines for income tax assessment per Section 41 of the Revenue Code. The notable change is that, going forward, a resident of Thailand would have the obligation to assess income from foreign sources as a part of assessable income of the tax year (i.e., calendar year starting from 1 January to 31 December of such year) which it is brought into Thailand. This New Order will be effective on 1 January 2024.