Thailand Tax changes: Guide to CRS

In this comprehensive guide, we delve into the latest Thailand tax changes, providing insights into the automatic information exchange that affects both residents and non-residents

Thailand embraced automatic information exchange last year, and this year, the tax authorities have issued practical guidelines, organizing seminars for banks. As per the directive from the Thai Ministry of Finance, banks are required to furnish information about non-resident accounts in their respective countries as of December 31, 2023, including those in Kazakhstan, by June 2024. Ukraine and Belarus are currently not participating in the automatic exchange.

For individuals from other nations, a crucial aspect is that Thailand is not yet part of the list of countries exchanging information through automatic means. This could have implications for various financial transactions, such as income from property rentals and sales, freelancing, receiving dividends, and other earnings from stock and crypto markets, as well as international transfers, excluding those between close relatives.

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