Last November the Thailand National Legislative Assembly approved the Land and Building Tax Act (“Act”), which replaces the current House and Land Tax Act B.E. 2475 and the Local Land Development Tax Act B.e.2508 as of 1 January 2020. The …
Over the past few years Thailand has moved towards creating a framework for addressing transfer pricing. In 2015, a draft version of new transfer pricing laws were approved by the Thai Cabinet and forwarded to the National Council of State …
Importers have been clamoring for changes to Thailand’s customs laws for years, arguing against the severity of penalties for violation and lack of clarity in the appeals process. After many years of debate and various draft proposals, a new Customs …
A new Excise Tax Act was enacted on 18 March 2017 and published in the Royal Gazette on 20 March 2017. The new law will become effective in September 2017 (180 days after publication in the Royal Gazette) and will …
The National Anti-Corruption Commission (NACC) has begun enforcing a notification that require private parties with a contract with a state agency or state owned enterprise (SOE) to submit an income and expense statement with the NACC if that contract has …
Tax and duty collection in Thailand dates back to the Sukhothai period and continued throughout the Adyudhaya and Rattanakosin periods. A new era of Thai Customs commenced in 1874 during the reign of King Rama IV and the “Customs House” …
On 21 December 2011, the Thai Government announced in Royal Decree (No. 530) B.E. 2554 the following reductions to juristic income taxes: 1. 23% of net profits of the juristic person for the first accounting period which begins on or after …
On 18 April 2011, the Revenue Department issued two notifications of relevance to Thailand’s civil unrest in 2010: 1. Notification of Director-General of Revenue Department Re: Incoming Tax (No. 204) – Regulations, Procedures and Conditions in relation to Tax …
On 18 April 2011 the Revenue Department passed Royal Decree No. 516 allowing for the exemption of VAT, Specific Business Tax and Stamp Duty in connection with a “partial transfer of business” between associated companies. On 27 September 2011, the …
The Revenue Department (RD) has issued a number of notifications over the first half of 2011 covering (i) the application of VAT in the context of exported services and for the partial transfer of business, (ii) the treatment of certain …
The primary source of tax law in Thailand is the Revenue Code. The four main forms of tax imposed by the Revenue Code are: corporate income taxes; value added taxes (VAT); personal income tax; and stamp duty. Corporate income tax …
The Thai legislature is currently considering a draft of a new Land and Building Tax Act (the Act) which would replace the current Building and Land Tax Act B.E. 2475 (BLTA) and the Local Development Tax B.E. 2508 (LDT). If …