Value-priced Tax for expats in Thailand: Canadians, Americans and NRIs

Canadian, American and NRI retirees, digital nomads on long-stay visas, and property owners. Value-priced Tax for expats in Thailand: Canadians, Americans and NRIs with a fixed fee agreed in writing before any work starts. Call the 24-hour helpline on +1 (416) 619-0068, or request a written quote today.

  • 15+Years of cross-border experience
  • 18,000+Clients served
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  • 4Global offices — India, USA, Canada & UAE

Secure a fixed quote

Begin with the papers you already have. The engagement is priced from them, in writing, before the work.

24-hour helpline: +1 (416) 619-0068
  • Google rating 5.0 out of 5
  • Offices in India, the USA, Canada and the UAE
  • 18,000+ clients served
Thailand in 60 words

Thailand's treatment of foreign income brought into the country has been the subject of changed guidance, so the year of remittance and the year the income arose both matter to the analysis. Whether you still file at home is decided by residence rather than by address, and for expats in Thailand that single question governs everything below.

Who we act for here

Canadian, American and NRI retirees, digital nomads on long-stay visas, and property owners.

Regional filing pattern

Year ends differ, and so does what residence means. In more than one system in the region the scope of taxable income depends on how long the person has been there.

The question that decides it

Thailand's treatment of foreign income brought into the country has been the subject of changed guidance, so the year of remittance and the year the income arose both matter to the analysis.

Do you still file at home?

Whether you still file at home is the first question and it has three different answers here. Canada: only if you remained resident, which is a ties test. The United States: yes, because the obligation follows the passport into Thailand. India: it depends on the day counts, and on whether the transitional status applies to you this year.

Thailand's treatment of foreign income brought into the country has been the subject of changed guidance, so the year of remittance and the year the income arose both matter to the analysis.

The team at work in the open-plan office

Transparent, fixed pricing for Thailand tax for expats

The fee on a Thailand expat file follows how many years are open and how much tracing the remittance question needs: income that arose in one year and was brought into Thailand in another has to be matched from statements, and a retiree with a single pension is not the work a long-stay visa holder with accounts abroad brings.

Individual tax filing

From $349

fixed, quoted before work starts

Individual returns where salary, investments or property sit outside the country of residence, prepared so relief is claimed once and in the right place.
See the fee schedule

Foreign asset & information reporting

From $349

fixed, quoted before work starts

Disclosure of assets and interests held abroad, built once from a single asset list and filed on every side that asks for it.
See the fee schedule

Non-resident & departure filings

From $349

fixed, quoted before work starts

Non-resident filings and the two part-year returns a move produces, sequenced so neither country taxes the same income twice.
See the fee schedule

Catch-up & voluntary disclosure

From $349

fixed, quoted before work starts

For a filing history that stopped — the penalty position assessed first, then the years filed in the order that protects it.
See the fee schedule

Corporate cross-border filing

From $999

fixed, quoted before work starts

The corporate return and its cross-border schedules as one engagement, so the group files a consistent position everywhere.
See the fee schedule

Payroll & mobility setup

From $999

fixed, quoted before work starts

What an employer owes when an employee works in another country: the registrations, the withholding and the reporting that follow.
See the fee schedule

Transfer pricing documentation

From $2,500

fixed, quoted before work starts

Documentation for transactions between related companies: the method, the comparables and the file an authority asks to see.
See the fee schedule

Estate & trust filing

From $799

fixed, quoted before work starts

Trust and estate filings that reach across a border, including the reporting a foreign beneficiary or a foreign asset creates.
See the fee schedule

All published fees on one page — each engagement priced as one number on one list, with nothing left as a range.

Residency and the tie-breaker

Where Thailand and your home country disagree, the treaty picks one — provided a treaty is in force. The evidence that decides it is contemporaneous and specific, which means it is gathered at the time or reconstructed expensively later.

We confirm the treaty in force for your year, including any protocol and any modification made through the multilateral instrument, before relying on an article. Treaty networks change, and a summary written three years ago is not evidence about this year.

Income by type: who taxes what

How each income type is treated in this corridor
Income typeGeneral treatment
Employment equity (options, units)Sourced across the period between grant and vest, so two countries can tax slices of one gain.
Fees for professional servicesTaxed where the services are performed, subject to any independent-services or business-profits article and to local withholding on gross fees.
Business profits from a local branchTaxable locally only to the extent attributable to a permanent establishment, computed as if the branch dealt at arm's length with the head office.
Dividends, interest and royaltiesTaxed at source by withholding, at a rate a treaty may reduce — but only if the payer holds valid documentation before payment.
Income from a locally registered company you controlMay be attributed to you before distribution under your home country's controlled-company rules, whatever the local treatment.
Scholarships, grants and trainee paymentsOften exempted for a limited period from arrival under the students-and-trainees article, claimed by filing rather than automatically.
Trust distributions received thereDepends on the trust's own residence and on whether the distribution carries income or capital, and the two systems frequently characterise it differently.

The local nuance

Thailand's treatment of foreign income brought into the country has been the subject of changed guidance, so the year of remittance and the year the income arose both matter to the analysis. That detail is specific to this corridor, and it is the one that most often changes the answer once the general rules have been applied.

What this looks like with numbers

The arithmetic is more persuasive than the description, so:

Credit relief on one stream of income

Take C$155,000 of income taxed in both countries. Assume the other country charged 27% on it and the home country would charge 43% on the same amount.

Credit relief on one stream of income
ItemAmount
Income taxed in both countriesC$155,000
Tax paid abroad (assumed 27%)C$41,850
Home tax on the same income (assumed 43%)C$66,650
Credit available (lesser of the two)C$41,850
Home tax still payableC$24,800

The credit absorbs C$41,850 and leaves C$24,800 payable at home, because the home rate on this income is the higher of the two. The balance is real cash and it is due on the home timetable, which is why instalments get raised in the first meeting. We run this on your actual numbers before advising anything, because the conclusion can invert with a modest change in inputs.

Treat these numbers as a worked example rather than advice — they exist to make the mechanics visible, and the rates and thresholds are assumed for the illustration. For a real filing, we verify each figure with the authority that publishes it, for your year.

Where these files go wrong

  1. Assuming the local adviser has covered the home-country consequence, and the home adviser has covered the local one, when neither has looked at the interaction.
  2. Reporting the foreign account and not the foreign asset, or the reverse, on the assumption that one satisfies the other.
  3. Not writing down the departure or arrival date at the time, so every later computation rests on a date nobody can evidence.
  • Authorisation with each authority, so we see the assessments and slips directly rather than asking you for them.
  • We will tell you when you do not need us, and that call is free.
  • A change of scope is re-quoted before the work, never added to the invoice after it.

One call now is worth more than a filing season of guessing.

Reviewed for the 2025 and 2026 filing seasons by Udit Gupta, Cross-Border Tax Expert, Legal Quotient Consultants. General information, not advice for your circumstances — call our 24-hour helpline to discuss your own position.

Taxes for expats in Thailand — what this page covers

Most readers of this page are looking for taxes for expats in Thailand. What follows sets out how it works for tax for expats in Thailand: Canadians, Americans and NRIs: who is caught by it, what has to be filed, and what the work costs, agreed before it begins.

Canadian, American and NRI retirees, digital nomads on long-stay visas, and property owners.

The four phases of the work

  1. Share your documents

    A secure upload link arrives after the first call — send files in any state.

  2. A written fixed fee

    The quote is fixed from what you send; it does not move once accepted.

  3. Preparation, both sides at once

    The returns are drafted together, reconciled line against line.

  4. Approve, then file

    Nothing is filed until you have seen it and approved it.

The difference a dedicated cross-border team makes

Factor Legal Quotient Hourly billing model
Pricing A fixed fee, agreed in writing before work starts Hourly, billed as incurred
Experience 15+ years of cross-border work, 18,000+ clients Varies by file
Both sides of the border Prepared together by one team, so relief is claimed exactly once One country at a time, reconciled later
Who reviews it A named practitioner, published on the page Whoever the queue reaches
Where the work happens Our offices in India, the USA, Canada and the UAE Whichever single office you can travel to

Key terms behind this page, defined

Wash sale
A sale and repurchase intended to realise a loss, restricted by rules in several systems including superficial-loss provisions.
Service PE
A permanent establishment created by furnishing services in a country for a period. Several treaties, India's among them, apply this test at a low threshold.
Treaty override
Domestic legislation that displaces a treaty provision. Where it exists, the treaty text alone does not settle the position.
LRS
India's liberalised remittance scheme, permitting resident individuals to remit funds abroad within an annual limit for declared purposes.

Fixed fees around Thailand tax for expats

The published fees below assume your residence position for the year is already settled. Where it is not — a long-stay visa, a property held in Thailand, a home kept in Canada or the United States — the engagement starts with evidence of where you actually lived, and that is quoted in writing separately.

Foreign asset & information reporting

$349fixed, before work starts

Covers: Accounts, property and company interests held outside the country of residence, reported on the schedules that carry penalties whether or not tax is owed.

See this fee page

Non-resident & departure filings

$349fixed, before work starts

Covers: Non-resident filings and the two part-year returns a move produces, sequenced so neither country taxes the same income twice.

See this fee page

Why choose Legal Quotient for Thailand tax for expats

18,000+ clients served

Individuals, expats and corporations across India, the USA, Canada and the UAE have filed with us — 15+ years of cross-border work.

The quote comes from your documents

Nothing is priced from a phone call. We read what you have first, then the fee is set — so the scope and the number are agreed on the same evidence.

Both sides prepared together

Two returns built against each other by one team, so relief is claimed exactly once and nothing falls between the two systems.

The reporting penalties get named early

The heaviest exposure on a cross-border file is usually a disclosure form, not the tax. We identify which ones apply before a deadline turns into a penalty.

Two of the firm’s advisers at the glass desk in the Delhi office

How the engagement runs, phase by phase

Step 1

First conversation

A call to the 24-hour helpline to find out whether this is a filing or a project

Step 2

Written quote

A fixed fee for a written scope — re-quoted if the scope changes, never invoiced silently

Step 3

Preparation and sign-off

Preparation against the evidence, with the positions documented as we go

Step 4

Submission

Your approval, then the filing — in that order

Two of the firm’s advisers and the team in the open-plan office

The engagement, start to finish

  • Step 1: Send the documents as they are – No tidying required — forward what you have and we tell you what is missing.
  • Step 2: Get a fixed quote in writing – Priced from your actual documents before any work begins, not estimated after.
  • Step 3: Both countries prepared together – One team builds the filings against each other so the relief lands exactly once.
  • Step 4: Review, then file – You approve the finished work before we file it.

Quoted up front, in writing.

Contact Us 24-hour helpline +1 (416) 619-0068

The rest of this practice

Browse sideways: the pages below answer the neighbouring questions.

Core services for this situation

Form 14653 — non-resident certification Everything on form 14653 non resident certification, at the same depth as this page.
Winding up a foreign subsidiary Winding up a foreign subsidiary — the guide, the FAQ and the fixed fee.
Hiring a contractor abroad — global payroll tax compliance The full guide to global payroll tax compliance, with the fee fixed before any work starts.
FC-GPR & FC-TRS — inbound investment (India) Its own page: fc-gpr & fc-trs India — mechanism, deadlines and published fees.
Customs value vs transfer price Everything on customs value vs transfer price, at the same depth as this page.
Credit method vs exemption method under Indian DTAAs Credit method vs exemption method under Indian dtaas — the guide, the FAQ and the fixed fee.
Annual compliance calendar design The full guide to annual compliance calendar design, with the fee fixed before any work starts.
Step-up in cost base on arrival Its own page: step-up in cost base on arrival — mechanism, deadlines and published fees.
AIS & TIS — annual information statement (India) Everything on ais & tis India, at the same depth as this page.

Who we bring this work to

Twitch & live streamers — relief you're probably missing Everything on twitch & live streamers relief you're probably missing, at the same depth as this page.
Crypto traders — what we charge Crypto traders what we charge — the guide, the FAQ and the fixed fee.
Cross-border truck drivers — what we charge The full guide to cross-border truck drivers what we charge, with the fee fixed before any work starts.
Importers & exporters cross-border tax Its own page: importers & exporters cross border tax — mechanism, deadlines and published fees.
Tax for forex traders Everything on forex traders tax, at the same depth as this page.
Tax for aid & ngo workers Aid & ngo workers tax — the guide, the FAQ and the fixed fee.
Touring musicians — relief you're probably missing The full guide to touring musicians relief you're probably missing, with the fee fixed before any work starts.
Tax for freelance designers & writers Its own page: freelance designers & writers tax — mechanism, deadlines and published fees.
Software developers — your filing calendar Everything on software developers your filing calendar, at the same depth as this page.

Where our clients live and work

Retiring in Mexico — pensions & withholding Everything on retiring in Mexico, at the same depth as this page.
Buying or selling property in Germany Buying or selling property in Germany — the guide, the FAQ and the fixed fee.
Moving to Mexico — the tax year you leave The full guide to moving to Mexico, with the fee fixed before any work starts.
US–Portugal tax corridor Its own page: US Portugal tax — mechanism, deadlines and published fees.
Retiring in Ireland — pensions & withholding Everything on retiring in Ireland, at the same depth as this page.
Working remotely from Germany Working remotely from Germany — the guide, the FAQ and the fixed fee.
US–Germany tax corridor The full guide to US Germany tax, with the fee fixed before any work starts.
Buying or selling property in UAE Its own page: buying or selling property in UAE — mechanism, deadlines and published fees.
Moving to Germany — the tax year you leave Everything on moving to Germany, at the same depth as this page.

The people on your file

Five named practitioners, each with the part of a cross-border file they carry. Every page on this site says who reviewed it, and the reviewer is one of these people rather than an unnamed team.

Udit Gupta

Udit Gupta

Cross-Border Tax Expert

CA (ICAI), In-Depth Tax Trained

Reviews and signs off the practice's cross-border positions, and carries final responsibility for the treaty analysis on every file that leaves the office.

Abhinav Gupta

Abhinav Gupta

Canada Tax / International Tax

Canada Tax, International Tax, Cross-Border Tax, Transfer Pricing

Canadian returns with foreign income, non-resident filings, and the transfer-pricing documentation that runs alongside intercompany work.

Raghav Gupta

Raghav Gupta

International Tax

International Tax, Transfer Pricing Specialist

Benchmarking, method selection and the local-file and master-file sets that support a group's pricing policy under examination.

Anmol Mittal

Anmol Mittal

Canada and US tax

CPA Canada, CPA USA, CA (ICAI)

Files that have to be right on both sides of the border at once — dual filings, streamlined catch-ups, and the foreign tax credit reconciliation between them.

Vinayak Indolia

Vinayak Indolia

CFO advisory

CPA, CA. Fractional CFO and Senior Advisory Specialist

Groups that need the tax position and the finance function to agree: structure reviews, intercompany policy, and the reporting a board can act on.

Meet the whole team

Cross-border situations we are engaged for

Case study 1

Mapping monthly pension remittances against the years income arose

A retiree living in Thailand on a long-stay visa had been transferring a pension in monthly instalments and had never separated the source of each transfer. The work began with statements on both sides, matching every remittance to the funds it actually came from and to the year that income arose, then setting out which years' rules applied to which transfers. The engagement produced a written remittance schedule, a stated position on each year, and a home-country return consistent with it, so that both sides of the file describe the same movements of money.

Case study 2

Establishing a day count for a nomad on a long stay visa

A client working for overseas customers while living in Thailand believed the visa settled the tax question. It does not. The engagement assembled entry and exit stamps, flight records and card transactions into a presence record for the calendar year, tested the residence position against that record, and then dealt with the consequences on each side. What it produced was a documented count, a residence conclusion the client could explain in a sentence, and a filing pattern agreed for the following year before it began rather than after it ended.

Case study 3

Bringing a Thai rental property into a home country return

A condominium in Thailand had been let for years and reported only locally. The owner remained resident at home throughout. Work covered the rental accounts, the local tax paid, the way title was held, and the separate reporting a foreign property attracts once holdings pass the reporting threshold. The result was a corrected set of years at home with credit claimed for the Thai tax on the same rent, and a standing schedule of the property's cost, improvements and reporting, so each future year is a short exercise rather than a fresh investigation.

Case study 4

A move to Thailand that did not end home residence

A client had moved to Thailand, kept a house available at home and left a spouse behind for part of the year, then stopped filing on the assumption that leaving was enough. The engagement set out the ties kept and the dates any of them ended, concluded that residence had continued for most of the period, and prepared the returns on that basis with relief for Thai tax where it applied. It produced a documented residence position and a plan of what would need to change, and when, for a later departure to be effective.

Case study 5

Catching up an American living in Thailand on unfiled years

A United States citizen had lived in Thailand for several years without filing, believing that no home-sourced income meant no obligation. Citizenship-based filing does not work that way, and foreign account reporting is a separate obligation again. The work reconstructed the years from bank statements and Thai records, prepared the returns in sequence so reliefs ran correctly between them, and identified the accounts that had to be reported. The engagement produced a complete filed set of years and a written explanation of the basis used, which is the record the client keeps.

Case study 6

Selling a Thai property around a change of residence

A couple returning home intended to sell their Thailand property after the move, without considering which country would tax the gain. The order of those two events largely decides it. The engagement fixed the intended residence date, set out the consequences of selling either side of it, assembled the cost base from purchase papers, transfer taxes and improvement invoices, and documented the position before the sale rather than after. What it produced was a decision taken with the consequences known, and a cost record capable of supporting the gain reported on both sides.

Case study 7

Whether the Year Made Someone an NRI

Indian residence is decided by presence tests applied to the financial year, and a single trip can change the answer for the whole of it. The status is established before any return or exemption is considered.

Read how this one runs
Case study 8

Tax Deducted When Buying From an NRI

Withholding on a sale by a non-resident is applied to the sale value rather than to the gain, so it routinely exceeds the tax due. A lower-deduction certificate obtained before completion avoids locking the difference up.

Read how this one runs

All case studies — every published engagement in one place.

Core International & Cross-Border Tax Services

International Tax Planning & Advisory

Strategy and compliance for income, assets and families spread across borders.

One coordinating team: filings on every side of the border are sequenced so treaty relief and foreign tax credits are claimed once — and in the right country.

U.S. & Cross-Border Tax Returns

Dual filers: U.S. citizens in Canada and Canadians with U.S. income run two parallel systems — we prepare both, in the right order, every year.

Expat & Emigration Tax

The move year is its own project: the elections and valuations filed that year decide the next decade of both countries’ returns.

Non-Resident Canadian Tax

Default withholding is 25% of gross: elective returns routinely turn over-withheld rent and pensions into refunds.

Transfer Pricing & BEPS

Documentation prepared with the return is the cheapest insurance in international tax; reconstructing it during an audit is the most expensive.

Cross-Border Estates & Trusts

Wills drafted for one country routinely misfire in the other — deemed disposition here, estate tax there, credits in between.

Cross-Border Corporate Tax

Expansion raises the same four questions every time — entity, PE, repatriation, payroll. We answer them before the tax authorities do.

India Tax for NRIs & Returning Residents

The deduction is taken on the sale price, not the gain — which is why an NRI property sale strands cash unless the certificate is applied for before closing.

Canadian Tax with a Foreign Element

Residency is decided on facts, not on a form — and the year you arrive or leave is the one where the largest amounts turn on the smallest details.

UAE Tax for Expats & Their Home Country

A zero-tax country is only half the answer — the question that decides the bill is whether the country you came from still treats you as resident.

Industries & Client Types We Serve Worldwide

Global E-commerce & Marketplaces
Technology & SaaS
Professional Services Firms
Cross-Border Real Estate
Importers, Exporters & Manufacturers
Athletes, Artists & Entertainers
Remote Workers & Digital Nomads
Investment Funds & Holding Companies

Global E-commerce & Marketplaces

Cross-border tax for sellers shipping worldwide: marketplace withholding, foreign registrations and inventory nexus handled before they become audits.

Marketplaces withhold, remit and report in their own right, so the tax position of a single sale is decided by where the stock sat, where the buyer was and which platform collected — not by where the company is registered. We reconcile the platform's own filings against the returns before either is submitted.

  • Foreign VAT / GST / sales tax registrations
  • Marketplace withholding reviews
  • Inventory nexus & PE analysis
  • Multi-currency books reconciled
Explore E-commerce & Marketplaces

Technology & SaaS

  • Cross-border revenue sourcing & withholding
  • IP structuring with real substance
  • Equity for cross-border teams
  • U.S. expansion: entity & PE setup
Explore Technology & SaaS

Importers, Exporters & Manufacturers

  • Transfer pricing documentation (s.247)
  • Customs value vs transfer price
  • Foreign affiliate reporting (T1134)
  • Country-by-country reporting
Explore Trade & Manufacturing

Athletes, Artists & Entertainers

  • Reg 105 & U.S. CWA agreements
  • Multi-state & country calendars
  • Touring income allocation
  • Royalty & image-rights withholding
Explore Athletes & Entertainers

Remote Workers & Digital Nomads

  • Residency analysis before moving
  • Employer payroll exposure
  • Totalization & social security
  • Foreign tax credits
Explore Remote Workers

Investment Funds & Holding Companies

  • Treaty access & PPT reviews
  • FAPI & surplus computations
  • Withholding-efficient routing
  • Governance & substance
Explore Funds & Holdcos

Thailand — questions we are asked

Do I have to file at home while living in Thailand?

For most people the answer turns on whether the ties that made them resident have actually ended. For a US citizen or green-card holder it does not: the return is due in Thailand exactly as it would be at home. Everything else on the file follows from which of those you are.

Is there a treaty between my country and Thailand?

Treaty networks change with each protocol and each multilateral-instrument position, so we confirm the treaty in force for your specific year with the issuing authority rather than relying on a published summary. Where there is none, unilateral relief and domestic law do the work instead.

I own property in Thailand. Where is the rent taxed?

In Thailand, because that is where the property sits. The complication is the base: gross-rent withholding takes no account of mortgage interest, tax or repairs, so a leveraged property can face tax on turnover. An election onto net profit, where it exists, is what fixes that — and it has its own timing.

Is money I transfer into Thailand taxable there?

It can be, and this is the feature of Thailand that most often surprises people. The system has historically looked at foreign income brought into the country, so the question is not only what you earned but when it arose and when it was remitted. Guidance on this has changed, which means the year matters twice over: the year the income arose and the year you moved it. Two people with identical incomes and different transfer patterns can end up in different positions. Before moving a lump sum, establish which rules applied to the year the money was earned and which apply to the year you intend to bring it in.

Do I pay Thai tax on my Canadian pension if I live in Thailand?

It depends on whether you are resident in Thailand for the year, whether the pension is brought into the country, and what the treaty between the two states says about that kind of pension. Some pensions are dealt with specifically by treaty and some are not, and a government service pension is often treated differently from a private one. Canada also has its own view: a pension paid to a non-resident is generally subject to withholding at source, and whether that is your final liability or an amount to be reconciled depends on the elections available to you. The answer is a document exercise. What kind of pension, paid by whom, under which article.

Am I Thai tax resident on a long stay visa?

A visa decides whether you may stay; it does not decide where you are taxed. Thai residence turns on presence, so the count of days you are physically in the country during the calendar year is the governing fact, whatever the visa says. Long-stay visa holders often assume the two questions are the same and keep no record of their trips out. Keep one. Entry and exit stamps, boarding passes and card transactions make a contemporaneous record, and a record made at the time is worth considerably more than a reconstruction made when somebody finally asks for it.

Does my Thailand condo have to be reported at home?

If you are still resident at home, probably. Canada requires residents to report specified foreign property once their holdings pass the reporting threshold, and a foreign rental property is the classic case; the United States asks separate questions about foreign accounts and, in some circumstances, about an entity holding the property. A condominium bought in a personal name and used by the family sits differently from one held through a company, and people frequently forget the company exists. Rental income is reported at home as well, with credit for Thai tax on the same rent. Start from how the title is actually held.

Should I bring savings into Thailand before or after moving there?

The timing genuinely matters here, which is unusual. Because the Thai analysis has looked at income brought into the country, the year in which a transfer lands can change its treatment, and because the guidance has moved, so can the year in which the income first arose. That makes a large transfer a decision to take deliberately rather than when the exchange rate looks friendly. Separating capital accumulated before you became resident from income arising afterwards is the practical work, and it is far easier with statements dated before the move than by argument from memory later.

I sold my condo in Thailand, which country taxes the gain?

Both may have a claim, and the order in which they exercise it is what the work is about. Thailand generally taxes what happens to property inside the country, with tax collected at the point of transfer. Your home country taxes the gain as well if you are resident there when you sell, giving credit for the Thai tax on the same gain. Whether you were resident on the date of sale is therefore often worth more than any planning done afterwards. Keep the purchase documents, the transfer taxes paid and any improvement costs, because the cost side of the calculation is where most of the value is lost.

Do US citizens abroad have to report foreign bank accounts?

Yes, and under two separate regimes with different thresholds and different filing homes — one report to FinCEN covering foreign financial accounts, and one to the IRS with the return covering a broader class of foreign assets. Both are keyed to balances rather than income, so an account earning nothing can still require reporting, and each carries penalties of its own. See filing both.

Does the foreign earned income exclusion cover capital gains, dividends or a pension?

No. It covers earned income — pay for services performed abroad — and nothing else. Investment income, rental income, capital gains, pensions and social security all stay fully taxable, relieved if at all by the foreign tax credit or a treaty article. This is the single most common misreading of it: people exclude a salary, assume the rest followed, and discover the gap when the investment income is assessed. See exclusion against credit.

15+ years of cross-border experience

Your Thailand filing, quoted before we start

One call to the 24-hour helpline is enough to tell you what has to be filed, what it costs, and whether you need us at all.

  • Fixed fees agreed before work starts
  • Rated 5.0 out of 5 stars on Google
  • 18,000+ clients served

Our practitioners are alumni of leading accounting and tax institutions

Where our partners studied — CPA Canada (In-Depth Tax Program), AICPA, the Institute of Chartered Accountants of India and the Malaysian Institute of Accountants.

Request a Quote +1 (416) 619-0068