THAI INVESTOR TAKE-HOME
How much of your US stock return do you actually keep?
Exchange spread, commissions, US dividend tax and Thai tax when the money comes home (2024 rules), comparing keeping it abroad with bringing it home, in baht.
Calculating…
Assumptions and sources
- Since 1 Jan 2024 (Revenue Department order Por. 161/2566), Thai tax residents add foreign income earned from 2024 to the return for the year it is brought into Thailand. Income earned before 2024 is exempt (Por. 162/2566).
- The draft exemption for money brought home in the same or next year was still not law in October 2026. If enacted, these results change.
- US dividend tax under the US–Thailand treaty is 15% with a W-8BEN, 30% without. The US does not tax a non-resident's gains from selling shares.
- Simplified: constant exchange rate, dividends not reinvested, losses not offset against other gains, Thai progressive rates 0–35%. Not tax advice; confirm with the Revenue Department or a tax adviser.
- IRS tax treaty tables ↗ · Thai Revenue Department ↗
Common questions
What taxes does a Thai investor pay on US stocks?
The US withholds 15% of dividends with a W-8BEN (30% without) and does not tax a non-resident’s sale gains. Since 2024, Thai tax residents add foreign income earned from 2024 to the Thai return for the year it is brought into Thailand, with a credit for US tax up to the Thai tax on that dividend.
Do I pay Thai tax if I keep the money abroad?
Under Revenue Department order Por. 161/2566, Thai tax applies when foreign income is brought into Thailand. The draft exemption for money brought home in the same or next year was still not law in October 2026.
Does US estate tax apply to Thai investors?
Yes. If a non-US holder dies, US shares above $60,000 can face US estate tax of 18–40%, and Thailand has no estate tax treaty with the US.