Taxing Times Thailand – March 2023
Welcome to the March 2023 edition of Taxing Times Thailand where each month we try and bring you useful information to help with your business and tax obligations in Thailand.
Cooperation Agreement with TAC Business in Khon Kaen
PKF Thailand is delighted to announce that we have signed a Cooperation Agreement with TAC Business Co., Ltd. in Khon Kaen. TAC is a well established accounting firm led by Khun Wipaporn Weeraritthichai who has built a thriving practice serving many Khon Kaen companies over the past 25 years. This will enable PKF clients from […]
Taxing Times Thailand February 2023 Issue
Welcome to the February 2023 edition of Tax Times Thailand where each month we try and bring you useful information to help with your business and tax obligations in Thailand. “T’was the night before Chinese New Year, and all through the house, Not a creature was stirring, except Personal Income Tax Departments all around Thailand!!” Gentle […]
Summary of Change in the Civil and Commercial Code No 23
On November 8, 2022, the Civil and Commercial Code (“CCC”) No 23 was published in the Government Gazette and will come into force after 90 days after the date publishing in the government gazette i.e., February 7, 2023. Below is the summary of change to the Civil and Commercial Code which made on the Company […]
Effective Time Management
Tick tock, tick tock …how fast the seconds, minutes, and hours race by. A distraction, a sudden phone call, a new more interesting email to deal with… these can all disrupt our work and before we know it, another few hours have been lost. Where does the time go!!! With only a fixed number of […]
Making More of Your Data
In today’s connected World, as companies, industries and countries recover from the rigours of Coronavirus, those that emerge fastest and strongest are likely to be data driven. Thoughtful use of data and analytics can help companies execute changes quickly and effectively in the market. PKF is able and ready to help clients address a range […]
New Guidelines: Individual shareholders can cause companies to be related
Thailand follows the OECD Transfer Pricing Guidelines for Multinational Enterprises and Tax Administrations (‘OECD Guidelines’), and as such, the Thai Revenue Code (‘TRC’) places reporting obligations on certain companies (and juristic partnerships) which have related party transactions. These can include a Transfer Pricing Disclosure Form, Local File, and Country by Country reporting. It is therefore […]
Are you ready for PDPA?
The Personal Data Protection Act or PDPA will come into force on 1 June 2022. With the introduction of the Act so close, your organisation should be preparing for its requirements. However, if your company hasn’t yet started preparing for the PDPA’s requirements, we suggest below four steps which could jumpstart the compliance process. Let’s […]
Update from the Thai Revenue Department regarding the Transfer Pricing Disclosure Form
On 28 March 2022, the Thai Revenue Department (“TRD”) published a Notification of Ministry of Finance regarding TPDF filing deadline extension for FY 2020. Moreover, the TRD also recently issued additional explanation and Q&A for the Transfer Pricing Disclosure Form (“TPDF”) on its TRD website. We have summarised key points as follows: TPDF filing deadline extension […]
Tax Flash: PND 50 / TP Disclosure Form
Filing an annual Corporate Income Tax Return (PND 50) A company or juristic partnership, having its accounting period ended 31 December 2021, is required to submit its audited financial statements and corporate income tax return (PND 50) to the Thai Revenue Department (TRD) within 150 days following the end of the accounting period i.e., on […]
