SEC Deputy Secretary-General Vasant Thienphom has clarified on the SEC's website that directors of public companies are required to vacate their directorship once the SEC files a criminal complaint. This suggests that the requirement to vacate arises early in the …
The National Anti-Corruption Commission (NACC) has found former secretary for transport Supoj Saplom to be 'unusually wealthy' as reported by the Bangkok Post here . A brief summary of Thai law on unusual wealth can be found here. The …
A violation of the Foreign Corrupt Practices Act (FCPA) requires a bribe or attempt to bribe a foreign official. Is an employee of a state owned enterprise a "foreign official" when the government owns the enterprise's shares and appoints its …
Thai consumers have complained about recent increases in their cost of living. As reported in the Bangkok Post, a poll conducted in the northeast revealed that 59% of respondents felt that the government has not done enough to control …
Please see our new article on employee privacy rights in the context of social media here.
Employers are increasingly scrutinizing candidates’ use of social media such as Facebook, Linkedin and Twitter as part of their hiring due diligence. While most investigations have been fairly benign, amounting to nothing more than viewing social media postings by the …
The Bangkok Post has reported that the Ex-CAT Telecom CEO Jirayuth Rungsrithong and the former CAT board could face legal action over the 3G deal awarded to True Corp. The news follows last month's ruling by the committee set up by the …
Thailand remains as one of thirteen countries on the U.S. Trade Representative's "Priority Watch List" of countries considered to be the most serious violators of intellectual property rights. Although the report states that Thai enforcement authorities, namely the Royal Thai …
Starting on 1 July, individual investors from Thailand will be allowed to freely invest in overseas-listed derivatives. As reported in the Nation, SEC Secretary General Vorapol Socatiyanurak stated that the Capital Market Supervisory Board has amended the investment rule by lifting …
The Nation has reported that the Revenue Department is considering ending deductions for interest payments by thinly capitalized firms. According to Mr. Satit Rungkasiri, the director-general of the Revenue Department, highly leveraged companies, such as those with a debt-to-equity ratio …
The Bangkok Post is reporting that the Thai National Anti-Corruption Commission will "definitely announce its complete findings on the contentious third-generation (3G) network deal between True Corp and CAT Telecom" today (23 April 2012). The Thai Ministry of Information and Communications Technology previously announced that it found …
As reported in the Bangkok Post, the Federation of Thai Industries (FTI) is requesting that the Ministry of Labour delay implementation of the new 300 Baht minimum wage, currently scheduled to come into effect for the whole country on 1 …
TOT Plc may seek strategic partners to manage and operate its telecom services, reported the Bangkok Post on 17 April 2012. The planned partnerships would involve the partners operating certain TOT telecom services as virtual network operators, according to TOT …
In a case involving a Thai graduate student in California, Supap Kirtsaeng, the U.S. Supreme Court has decided to examine if he violated U.S. copyright laws when he had family members in Thailand buy textbooks in the Asia, and then …
The Nation has reported that in response to the recent rise in the daily minimum wage, the Labour Ministry is preparing a relief package for small and medium-sized enterprises, including tax deductions and cheap loans. Somkiart Chayasriwong, the permanent secretary …
Panpilai Issariyapruit Thailand enacted a Thai Trade Competition Act in 1999 (“TCA”), which contains the major substantive provisions found in most other competition laws, including an abuse of market dominance provisions in Section 25, merger control provisions in Section 26, …
The Thai Constitutional Court has recently ruled that a presumption of director or manager guilt as provided in Thailand's Direct Sale and Direct Marketing Act (DSDM Act) conflicts with the protections afforded to individuals under the Thai Constitution. The ruling …
The penalty provisions in some Thai laws include a presumption that directors and managers of an entity found to be in violation of such laws were involved in the violation and should thus be held personally liable. The burden of …
The penalty provisions in some Thai laws include a presumption that directors and managers of an entity found to be in violation of such laws were involved in the violation and should thus be held personally liable. The burden of …
Access the Thai Chapter of the 2012 edition of Getting the Deal Through’ s guide to Anti-Corruption regulation by clicking here. The article was prepared by PriceSanond and is produced with permission of Law Business Research Ltd. The article was first published …
On 16 March 2012, the NACC issued a notification under Section 100 of the Anti-Corruption Act which prohibits executive and vice-executives of local administrative bodies and their spouses from participating in several commercial activities with the government. Previously, only the …
It was reported by the Bangkok Post on March 22 that the National Broadcasting and Telecommunications Commission (NBTC) approved all three master plans on March 21 governing spectrum, telecommunications and broadcasting. The NBTC also reportedly endorsed the periods within which the …
A grassroots movement to identify government officials who press for bribes is growing momentum, thanks to an Indian website (ipaidabribe.com) reports the New York Times. Thailand is not without serious transparency problems, as reflected in reports from Transparency International and …
Thailand’s Foreign Business Act [FBA]…provides that “alien companies”…are not allowed to engage in a wide range of business activities…There is a significant exception however to the restrictions imposed by the FBA under the [Amity Treaty between Thailand and the U.S.] …
A new Summary of Thai Labour Law is now available in the Knowledge section of our website. To access the article, click here.
The SEC has prepared draft regulations to allow companies with expertise in real estate investment and management to seek SEC approval to become a Real Estate Investment Trust (REIT) manager and issue and allocate units in the REIT. According to …
Please click here to access our new article on bankruptcy restructuring added to the Insolvency & Restructuring section of our Knowledge database: "Overview of Thai Bankruptcy Reorganization Law".
Bangkok Medical Services (BMS), Thailand's largest hospital group, increase of its stake in Bumrungrad Hospital has triggered calls for tightening of Thailand's Trade Competition Act (TCA). On 15 March 2012, the Bangkok Post reported that: The government is under growing pressure …
Bills of Exchange (B/E) have become a frequent source of funds by financial institutions in Thailand. Financial institutions issuing B/Es often structure them with terms similar to those used with bank deposits and offer comparable returns. The SEC has been …
"Some members of the National Broadcasting and Telecommunications Commission [NBTC] are feeling ''uncomfortable'' after a colleague [Ms. Supinya Klangnarong] called for a new code of conduct regarding corporate gift giving,…", according to the the 9 March 2012 edition of the Bangkok Post. This 9 March article says: Ms Supinya said …
The 3 March 2012 edition of the Bangkok Post reports that U.S. Ambassador Kristie Kenny asked the “National Anti-Corruption Commission to investigate corruption cases” that concern the U.S. There are several curious aspects of the article. First, the article specifically refers to the conviction …
The U.S. Supreme Court is hearing two cases on the scope of U.S. courts to hear cases involving alleged human rights abuses, including torture, in foreign jurisdictions. The respected SCOTUS (Supreme Court of the United States of America) blog site discusses …
Overview of Thai Bankruptcy Reorganization Law Bankruptcy laws often require courts and parties to make hard choices. In a bankruptcy there is simply not enough money to satisfy everyone, and difficult decisions must be made about who gets what. In …
The 22 February 2012 edition the Bangkok Post reports that CAT Telecom's board will review its controversial 3G contracts with True Corporation to determine whether it will move forward with the cooperation or scrap the deals. The True-CAT contracts, which were …
"Second-ranked mobile operator Total Access Communication (DTAC) has reiterated that it is ready to deal with a potentially explosive challenge to "foreign dominance" before the upcoming 3G licensing auction begins", according to a report in the 20 February 2012 edition of …
Supoj Saplom testified for three hours before the National Anti-Corruption Commission (NACC) on 8 March 2012 and will be called back to testify again on 26 March 2012. According to a 9 March 2012 article in the Bangkok Post, NACC Commissioner "Preecha Lertkamolmart said Mr Supoj had yet to clarify …
A leading international anti-money laundering body, the Financial Action Task Force (FATF), reports that Thailand has “strategic anti-money laundering deficiencies.” The FATF’s 16 February 2012 report on Thailand says: Despite Thailand’s high-level political commitment to work with the FATF and APG to …
US law not only rewards "whistleblowers" in FCPA cases (see article here), but it also prohibits employers from taking retaliatory action against whistleblowers. In a 8 February 2012 article the Huffington Post reports on such an alleged retaliation claim that …
The Bangkok Post reported on 7 February 2012 that the National Broadcasting and Telecommunications Commission (NBTC) is revising its regulations on foreign dominance restrictions for Thai telecom operations. Under the existing regulations, "the rule is aimed at curbing foreign dominance …
The Bangkok Post reported on 6 February 2012 that Vasant Thienhom, deputy secretary-general of the Securities and Exchange Commission, would like to change Thai securities laws "to close enforcement loopholes". For example, Mr. Thienhom would like to expand the concept …
Securities related services in Thailand are principally regulated under the Securities and Exchange Act B.E. 2535 (the “SEC Act”). The SEC Act requires anyone who engaged in certain activities pertaining to securities to obtain one or more licenses, depending on …
Thailand’s Securities and Exchange Act B.E. 2535 is the main source of securities legislation, and the Securities and Exchange Commission of Thailand (SEC) performs the functions of the capital market supervisory agency with the status of an independent state agency. …
The Bangkok Post has reported here that a subcommittee of the National Anti-Corruption Commission (NACC) has charged suspended secretary for transport Supoj Saplom as being 'unusually wealthy'. A brief summary of Thai law on unusual wealth can be found here. The …
It was reported by Manager Online on January 12 that the National Broadcasting and Telecommunications Commission (NBTC) will hold nationwide public hearings on the draft frequencies master plan, the draft telecommunication businesses master plan and the draft broadcasting businesses master …
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 …
A Thai civil Court rendered a judgment on 28 December 2011 ordering Mueang Thai Insurance Plc. to pay 16.5 million Thai Baht (roughly US$550,000) to an insured restaurant in Siam Square that was burnt during the political unrest in May …
The Thai National Anti-Corruption Commission (NACC) issued an amendment to its notification (Notification) concerning government contractors’ reporting duties. The original Notification was issued on 11 August 2011 and was published in the Royal Gazette on 15 August 2011. The amended Notification was …
The Thai Chamber of Commerce (TCC) announced that state corruption made the recent flooding in Thailand worse than it would have been otherwise. Members of the TCC agreed they would no longer pay bribes to state officials and would closely …
The property committee of the Joint Foreign Chambers of Commerce in Thailand (JFCCT) has submitted a white paper to Dr. Nalinee Taveesin, the Thailand Trade Representative, on the benefits of revising existing Land Department regulations to clearly allow for 60-year …
The SEC has ordered Tongkah Harbour Plc. (THL) to arrange a special audit with regard to the company's internal controls, appropriateness of related party transactions and asset management. The audit is in response to the SEC's concerns regarding: (1) the …
The Bangkok Post reported on 6 December 2011, that 365 Communication, a mobile virtual network operator (MVNO), has taken legal action with the National Anti-Corruption Commission (NACC) against four members of the Telephone Organization of Thailand Plc's (TOT) 3G broadband committee for discriminating against it …
Transparency International (TI) rated Thailand a 3.4 on its corruption perceptions index (CPI) on 1 December 2011. TI rates the perceived corruption level of countries from 0 to 10, with higher ratings reflecting less corruption, while lower scores reflect higher corruption. Thailand’s …
The Nation reported on 1 December 2011 that Total Access Communication (DTAC) has filed a lawsuit with the Central Administrative Court seeking termination of the National Broadcasting and Telecommunications Commission (NBTC) Notification on “Foreign Domination” of Telecom Businesses, which came into effect …
The Bangkok Post reported on 23 November 2011 that the National Anti-corruption Commission (NACC) ordered a freeze on 15 million baht allegedly stolen from transport permanent secretary Supoj Saplom’s home while it forms a panel to investigate him for alleged …
The National Anti-Corruption Commission (NACC) has the authority to initiate investigations into whether a person holding a political position or a state official is “unusually wealthy” under Chapter 7 of the Anti-Corruption Act, B.E. 2542, which was amended in April …
On Tuesday, 22 November the Thai Cabinet approved a recommendation to postpone the country-wide increase in the daily minimum wage from 1 January 2012 until 1 April 2012. The minimum wage will be increased to 300 Thai Baht per day …
In the first case under the UK's Bribery Act, a sentence of as much as six years in prison was imposed against a court clerk, Munir Patel. Munir Patel was sentenced to six years for 'misconduct in public office' and three years for violating …
The Nation reported on 17 November 2011 that the National Broadcasting and Telecommunications Commission (NBTC) might consider revising the regulations governing foreign dominance of the telecom sector – introduced by its predecessor, the National Telecommunications Commission (NTC) – amid concerns …
Victims of floods or other natural disasters may be entitled to a tax exemption on any compensation received from governmental agencies or other bodies. The conditions for a tax exemption on such form of compensation has recently been addressed in …
The motion filed by ex-TAT Governor, Ms. Juthamas Siriwan, and her daughter, Jittisopa Siriwan, to dismiss the U.S. indictment against them has implications that go far beyond their individual case. Their motion challenges one of the increasing aggressive enforcement measures used by the U.S. Department of …
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 …
Bangkok’s major courts and many government offices will be closed the week of 7 – 11 November because of the floods, reports The Nation. Because Thai courts often defer activity in the month of December, this could lead to additional delays …
Transparency International (TI), a leading and well respected non-governmental organization that monitors and publicizes political and political corruption, reports that Chinese and Russian firms are most likely to bribe abroad according to their recently released Bribe Payers Index for 2011, …
The Nation reported on 1 November 2011 that the National Broadcasting and Telecommunications Commission (NBTC) is considering the establishment of a legal advisory subcommittee to interpret ambiguous clauses in the Frequency Allocation Law. One ambiguous clause of …
On 25 October 2011, the Thai cabinet approved the following BOI tax incentives in an attempt to restore the confidence of foreigner investors after the flooding crisis. 1. General Measures for Business Operators Affected by the Flood The following tax …
The Bangkok Post reported on 11 October 2011 that Thailand's cabinet has approved a cut in corporate income tax as proposed by the Ministry of Finance, Deputy Finance Minister Boonsong Teriyapirom. Corporate income tax will be reduced from 30% to …
The President of the Supreme Court issued regulations that became effective 8 October concerning mediation in court proceedings. Of particular importance, article 37 of these regulations provides that, unless the parties agree otherwise, information disclosed during court supervised mediations shall be …
The Bangkok Post reported on 17 October 2011 that the National Broadcasting and Telecommunication Commission (NBTC) has insisted the 3G licence auction will be held on schedule by mid-2012 as initially planned with no further delay. NBTC …
Manager Online and TeleGeography reported that on 10 October 2011, Thailand’s largest mobile phone operator, AIS, withdrew its claim with the Thai Arbitration Institute against TOT, a state-owned telecommunications company. AIS withdrew its arbitral claim against TOT following the withdrawal …
In the United States, a purchaser of a mobile phone is typically required to enter into a service contract with a particular mobile phone operator. Under such an arrangement, consumers are able to acquire a new phone often at …
The Personal Data Protection Bill proposed by the preceding cabinet in 2009 and considered by the current cabinet on 20 September 2011, has not been passed into legislation. As a result, no new personal data privacy legislation will be considered …
In the United States, a purchaser of a mobile phone is typically required to enter into a service contract with a particular mobile phone operator. Under such an arrangement, consumers are able to acquire a new phone often at …
The hearing on the motion of former TAT Governor Juthamas Siriwan and her daughter, Jittisopa Siriwan, to dismiss the U.S. indictment against them has been continued from 20 October 2011 until 30 November 2011. The Siriwans’s challenge of the U.S. …
After 13 years in the making, the National Broadcasting and Telecommunications Commission (NBTC) was appointed and received royal endorsement on 7 October 2011. The NBTC is responsible for, among other matters, regulating, licensing and assigning frequencies for telecommunication services. The …
The Safety, Health and Environment at Work Act, B.E. 2554 came into force in June 2011 and requires an employer to provide employees with a safe and healthy work environment. Under Section 22 of the Act, an employer is …
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 …
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 affiliated companies. The Revenue Department has since …
On 28 September 2011, the National Telecommunications Commission (NTC) ordered revision within 30 days of the 3G contract between the Communications Authority of Thailand (CAT) – one of the two major state enterprises engaging in telecommunication businesses – and TRUE …
“The Association of Thai Travel Agents (ATTA) plans to draft tougher requirements for foreign tourism operators wishing to do business in Thailand”, reports the Bangkok Post. There are already at least two laws in Thailand that restrict foreign ownership of …
On 10 May 2011 the Protection of Persons Working from Home Act, B.E. 2554 (Home Workers Act), became effective. Thailand has many labour laws, but did not have any laws specifically addressing employees who work at home before the Home …
The acting National Broadcasting and Telecommunications Commission (NBTC) issued a notification restricting “foreign domination” over telecommunications businesses. This notification was published in the Thai Government Gazette on 30 August 2011 and became effective the following day, 31 August. The notification applies to …