Post
Topic
Board Economics
Re: Thailand to start taxing overseas income next year, including from crypto
by
visionE2
on 19/09/2023, 14:26:56 UTC
Thailand is known for its tourism, and it is true that some foreigners live in their exploding tax loopholes. But this policy can create a negative impact on foreign investment and tourism. Many foreigners were happy about their low tax rates, which made them an attractive place for many expats. Most of these expats were already paying tax in their home country; now if they need to pay a high tax in Thailand as well, this will force them to leave the country.
I agree with you. Maybe it's true, governments everywhere do the same thing, especially in an economy like this. They believe that they can create changes like this to achieve the goals they have. But they never consider the idea that the people they want to tax always have other options. It's like double taxation for foreigners is tax inequality. Foreigners are taxed in their home country and will now be taxed in Thailand at the same amount. Does Thailand want to get rid of all foreigners?