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Capital Gains Tax for Foreigners in Thailand on Offshore Assets

Transcript of the above video:

As the title of this video suggests, we are discussing Capital Gains Tax. We are discussing this specifically for foreigners here in Thailand; foreign nationals that are living in Thailand. If it is ultimately deemed that an individual is a Tax Resident in Thailand, and again that analysis has to be undertaken on a case-by-case basis. I made another video contemporaneously with this one where we discuss Tax Residence a little bit more at length.

Once one has determined whether or not they are Tax Resident there may be implications especially with respect to the possibility that they may be owing Capital Gains tax to the Thai Government associated possibly with offshore assets or possibly even unearned income accrued from offshore. Again, it is going to be driven heavily by the facts of the giving case so it is a pretty good idea to go ahead and contact a legal professional well-versed in tax matters.

We have Thai Attorneys here on staff who deal with Thai tax a lot. We have Thai accountants on staff who frequently deal with Thai tax matters and we especially deal with this in a foreign context. The main thrust of our office, the main thrust of our practice is dealing with foreigners here in Thailand. But yes there could be and I stress could, this is all going to be again driven by the facts of your case. There could be tax liability even associated with offshore assets in a Capital Gains context especially where Tax Residence has attached.