- February 23, 2022
- Posted by: admin
- Category: Daily News
- The cabinet has approved a number of incentives for three foreign groups of taxpayers: high-income earners, retirees and those who want to work remotely from Thailand.
- Beneficiaries would be considered investors in Thailand with the Thai government offering them long-term residence (LTR) visas.
- Personal income tax will be waived for these 3 groups.
- However, a fourth group eligible for the visa would be taxed. These are experts in digital services. This group is being regarded as highly skilled professionals. They are required to work in targeted industries or as academic experts in universities or state agencies.
- “High potential foreigners will help broaden the personal income tax base, stimulate domestic consumption and investment, and enhance the country’s competitiveness, which will contribute to economic growth. It’s expected that 1 million foreigners will stay in Thailand,” said the finance minister.