Cabinet approved amendments to the Thai Civil and Commercial Code (“TCCC”) Concerning Corporate Laws
On 23 June 2020, the Thai Cabinet has approved amendments to the TCCC and Act for the Prescription of Penalty Imposed on Registered Partnerships, Limited Partnerships, Limited Company, Associations and Foundations B.E. 2499 (1956) (“Penalty Act”) related to the corporate registration, penalty for delayed payment of dividend, and the combinations of limited companies. The objectives […]
Thai Revenue Code to impose VAT on foreign digital transactions
After much consideration, Thailand is set to regulate tax revenues from foreign digital transactions by reforming its traditional tax system to cover loopholes that have been introduced by the global digital economies. This change is in line with its ASEAN neighbours, such as Singapore, Malaysia, and Indonesia, who have already issued similar regulations earlier this […]
Updated Guidelines for Foreigners with a Work Permit Entering Thailand
According to the Regulation Issued under Section 9 of the Emergency Decree on Public Administration in Emergency Situations No. 12, issued on 30th June 2020, the Thai government has allowed specified groups of Thai and foreign travelers to enter Thailand as of 1st July 2020. One of the permitted groups includes foreigners who have a […]
Government exempts hotels from annual room fee until 2022
Hotel businesses will be exempted from paying an annual fee to the government until 2022 to help reduce their burden in the aftermath of the Covid-19 outbreak. The Royal Gazette website on Wednesday (July 1) announced the ministerial regulation on exemption of the fee for hotel businesses. The regulation signed by Interior Minister General Anupong […]
Update on Relief for TM30 filing requirements
The Royal Thai Police has recently issued the new Regulation which provides some Expats’ relief on the requirement of TM30 reporting, as well as for property owners (i.e., house-master, owners or lessors of a residence) and hotel managers in Thailand. The new Regulation was published in the Government Gazette on 16 June 2020 and it […]
Automatic Visa Extension – Is my visa secured?
After the Thai Immigration Bureau’s Announcements for automatic visa extension back in March and April 2020, the Covid-19 pandemic has been on-going and the current extensions for the visas of foreigners remaining in Thailand persists until the end of July 2020. The past extension Announcements were aimed to reduce the risks of over-crowding concerning foreigners […]
BOI Relief Measures for COVID-19 Impacts
To address the urgent need regarding the outbreak of COVID-19 which has prolonged since the beginning of this year, the Office of Board of Investment has launched the recent relief measures under the Announcement No. Por. 4/2563 (“Announcement”) on 12 May 2020 in accordance with the Investment Protection Act B.E. 2520 (1977). In order to […]
Exemption of annual fees for factory business operators
Due to the recent outbreak of coronavirus disease 2019 (COVID-19) in Thailand, the economic downturn has negatively affected various stakeholders and actors across the economy, especially in industrial and manufacturing sector. Consequently, many factory operators have been suffering from a decrease of income and increase of cost of production. With due response, the Ministry of […]
Bringing a degree of clarity to the yet-to-be-ratified Thai Gov’t measures aimed to support debt restructuring
There appears to be some confusion among businesses in Thailand as to the prospects for support measures from the Government of Thailand aimed at debt restructuring to tackle the economic effects of COVID-19. At the beginning the COVID-19 lockdown, the Ministry of Finance announced approval (subject to Thai government ratification) to implement tax and fee […]
A Discussion on Managing Uncertainty for Decision Makers
COVID-19 has drastically changed the global economic outlook, and now more than ever, it is important to balance realism with optimism. We have no way of knowing how long the COVID-19 crisis is going to last and what the World will look like once it has passed but what is certain is that things are […]
