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2021 Options for Minimizing Personal Tax and Maximizing Your Savings Plan

Super Saving Fund (SSF) Contribute up to max. 30% of taxable income (capped at THB 200,000). When combined with contributions to “Other Programs” (listed below), total contributions may not exceed THB 500,000 in aggregate: “Other Programs” include: Retirement Mutual Fund (RMF), Provident Fund, Government Pension Funds, Private Teacher Aid Fund contributions, National Saving Fund and […]

Legal Update: The Revival of Investment Promotion for Electric Vehicles

On 4th November 2020, the Thailand Board of Investment (“BOI”) has resolved to approve the incentive measures to accelerate the development of electric vehicles (“EV”) production and related supply chain in Thailand, with a focus on battery electric vehicles (“BEVs”), local production of essential parts, and the inclusion of commercial vehicles of all sizes as well […]

Thai Legislation: One Person Company Act

As recently approved by the Office of the Council of State, the One Person Company Act (“Act”) is finally near its official enforcement after the first draft in 2017. According to the Act, a one person company is a type of juristic person established for profit-seeking purposes with an ordinary person as a sole capital […]

Reduction of the Contribution to Social Security Fund

With Thailand heading into economic recession as a result of the COVID-19 pandemic suffered nationwide, the employment sector has been adversely affected by the substantial market downturn. To cut costs during this abnormal operation, businesses are laying off employees and adjusting the monthly salaries paid to their workers. To acknowledge this economic situation, on 1 […]

Land and Building Tax: Clarified

With the effective date on 13th March 2019, the Land and Building Tax Act B.E. 2562 (“Act”) initially scheduled the implementation of tax collection on 1st January 2020. Nevertheless, due to the prolonged economic recession and the COVID-19 impacts which have been suffered nationwide, there have been two Royal Decrees enacted to reduce tax liability in this […]

Thailand Long Stay “Special Tourist Visa”

Since the start of the Covid-19 pandemic, the number of tourists in Thailand has been significantly reduced. The Thai tourism business and other related industries are severely affected by this situation. However, Thailand has been effectively controlling the spread of Covid-19 and the government is trying to restore the economy.  Hence, the Thai Cabinet just […]

Have your tax withheld at one step with e-withholding tax?

The new e-Withholding Tax system manages withholding tax completely in one step. As an electronic medium service that meets international standards of security, it is an alternative way to cover the withholding tax steps in what has been a daunting process and makes the system shorter and more pleasant. Expense on messengers and printing are […]

Automatic Visa Extension – The Last Visa Amnesty

After the Thai Immigration Bureau’s announcements for automatic visa extension back in March, April and June 2020, foreigners whose visa was expired could stay in Thailand until the end of July 2020 without any penalty for overstaying. There were many questions on what will be the next step for foreigners after the end of July […]

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 […]