Insurance companies are concerned about whether or not the damage caused in Thailand’s recent civil unrest will be treated as terrorism, reports the Bangkok Post. If the damages were caused by terrorism there is often no insurance coverage and insurance …
Earlier this month the U.S. filed its opposition to ex-TAT Governor, Ms. Juthamas Siriwan’s, and her daughter, Jittisopa Siriwan’s, motion to dismiss the U.S. indictment against them. A U.S. court obviously cannot rule on whether the Siriwans violated Thai anti-corruption …
The Securities and Exchange Commission is holding public hearings until Sunday, 25 September, on a proposed amendment to the SEC Act. The amendment will broaden the scope of the SEC Act's coverage to include outsiders who use inside information for …
Some foreign car manufacturers and importers of foreign cars are claiming that Thailand’s first time car buyer program discriminates against imported vehicles, reports the Bangkok Post. Tata, for example, claims: “implementation will create unfair trade competition as only locally built …
Privacy rights involving the collection, storage and usage of personal data have only been partially protected under a variety of context-specific privacy laws, such as the Official Information Act BE 2540, Credit Information Business Act BE 2551 and the Telecommunication …
The Bangkok Post reports here that the Thai National Anti-Corruption Commission (NACC) plans to pursue an investigation into the deal reached earlier this year between CAT Telecom and Thailand’s no. 3 telecom, True Corporation. Earlier this year, in May of …
Ex-TAT Governor, Ms. Juthamas Siriwan, and her daughter, Jittisopa Siriwan, have filed a motion through their U.S. lawyers to dismiss the U.S. indictment against them. In recent years, as part of an overall effort to enforce anti-corruption laws, U. S. …
“The National Anti-Corruption Commission (NACC) is urging the government and business to prepare for tougher anti-corruption measures”, reports the Bangkok Post on 6 September 2011 in an article about a recent seminar on corruption in Thailand. This same article reports that “the chairwoman …
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 first case under the UK’s Bribery Act 2010 has been reported on the Crown Prosecution Service’s blog site. What is of particular interest is that the case was brought for alleged domestic rather international bribery. Further, the case was …
Before the Senate’s appointment of 11 members to the NBTC on 5 September, the National Telecommunications Commission (NTC) was authorized to perform certain duties of the nascent NBTC (see Section 80 of the NBTC Act below). It was this body, …
PriceSanond partner Pramote Srisamai will be attending the Employment Law Alliance’s annual meeting in Boston, Massachusetts on 16 – 18 September 2011. The Employment Law Alliance is a network of 3,000 labor and employment lawyers – pre-screened for quality and responsiveness – in …
A proposal to establish a special business court to handle corruption cases has been put forward, reports the 27 August edition of the Bangkok Post. For 2010, Transparency International’s Corruption Perceptions Index ranked Thailand 78 with a score of 3.5, …
The Bangkok Post reported on 24 August that: “[t]he National Anti-Corruption Commission yesterday formally ruled against former TAT governor Juthamas Siriwan in the film festival bribery case.” The Americans involved in the film festival scandal were convicted in the U.S. for …
On 31 August 2011, the Bangkok Post reported that True Move officially launched its commercial 3G service on 30 August 2011 by declaring a “3G war”. Suphachai Chearavanont, True Corporation’s chief executive, said that True Move plans to become the …
The Deposit Protection Agency has recently issued a notification limiting the deposit protection to customers with deposits in financial institutions whose licenses are revoked. The protection, which was previously unlimited, is now capped at Baht 50 million and will be …
The Bangkok Post reported on 18 August that “[t]he Department of Special Investigation has decided to file charges against US tobacco firm Philip Morris Thailand for allegedly under-declaring the value of its products to evade taxes.” The Bangkok Post also …
New regulations have been promulgated under the Thai Anti-Money Laundering Act (AMLA) and all will be effective by the end of August 2011 (the New Regulations). In brief, the main changes introduced by the New Regulations provide as follows: Additional …
New regulations have been promulgated under the Thai Anti-Money Laundering Act (AMLA) and all will be effective by the end of August 2011 (the New Regulations). In brief, the main changes introduced by the New Regulations provide as follows: Additional …
The Senate’s appointment of 11 members to the National Broadcasting and Telecommunications Commission (NBTC) in September of 2011 and the investigation into the appointment process by the Department of Special Investigations have attracted considerable media attention recently, but what is the …
The Thai Computer Crimes Act (CCA), which came into force in 2007, is broadly written and leaves the Courts with wide discretion to decide whether content posted on the internet or uploaded to any computer system is in breach of …
Thai law allows employees to form unions and sets out the requirements for forming a union. At least ten employees at a “business location” can elect to form a union and obtain approval from the Ministry of Labour to form …
Pramote Srisamai and Stephen Helwig Thai law allows employees to form unions and sets out the requirements for forming a union. At least ten employees at a “business location” can elect to form a union and obtain approval from the …
The Bank of Thailand (BOT) announced that as of 26 March 2011 all businesses in Thailand with import or export operations, overseas investments or liabilities, or investments from overseas investors at or above a specified threshold are required to submit …
When do I require a Work Permit? Any foreigner working in Thailand must have a work permit, and the definition of work is extremely broad. Work is defined as "engaging in work by exerting energy or using knowledge whether or …
Overview Work permits, visas and the relationship between the two are a source of considerable consternation and confusion for investors and other foreign business people in Thailand. The process of obtaining a work permit and a long-stay visa is complicated …
The Director General of the Department of Employment in the Ministry of Labour (DOE) has issued a notification setting out revised criteria for labour officials to consider when issuing work permits under the Alien Work Permit Act B.E. 2551 (2008) …
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 …
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 …
How to benefit from our real estate practice A property transaction in Thailand not only involves “getting the deal done”, but also understanding what it is you want to get done, the risks – present and future – of getting …
Courts Unless subject to arbitration, most private disputes in Thailand are adjudicated in the Courts of Justice (Thailand also has a Constitutional Court, Administrative Court and a Military Court). Courts of Justice have three levels: the Courts of First Instance; …
Thailand has traditionally been an arbitration friendly state, embracing and promoting arbitration as a method of resolving commercial disputes. In fact, Thailand was among the first countries to adhere to the 1958 Convention on the Enforcement and Recognition of Foreign …
The ongoing financial crisis and economic slowdown are expected to have a considerable impact on Thailand’s economy. Businesses which have experienced record levels of growth are suddenly being confronted with declining sales and a lack of working capital in a …
Thailand recognises intellectual property rights and, in general, intellectual property protection legislation is consistent with international practice, although there are local peculiarities. Thailand is a signatory to several international agreements and conventions pertaining to intellectual property rights. Despite this legislative …
Although the 2008 worldwide economic recession, together with H1FI flu circumstances and local political uncertainties have recently had a heavy negative impact on the tourism and hospitality sector in general in Thailand, the general consensus is that longer term prospects …
Prior to Enactment of LPA In 1980, the Thai Supreme Court held that seconded employees were not considered employees of a host employer and were not entitled to severance or other benefits under Thai labour law, unless such employees entered …
There is a fundamental difference between U.S. and Thai labour law in that U.S. labour law is flexible in nature (permitted unless prohibited), whereas Thai labour law is less flexible (prescriptive in nature). For example, U.S. labour law generally provides …
Security is collateral that is provided to guarantee fulfillment of an obligation. The obligation is often a debt, but this is not always the case. The term "mortgage" is often used interchangeably with the term "security". From the perspective of …
Amendments to the Civil and Commercial Code were published in the Government Gazette on 3 March 2008 and became effective on 1 July 2008. Generally, the amendments aim to simplify both the registration requirements and ongoing corporate governance requirements for …
On 10 September 2008 the Department of Business Development of the Thai Ministry of Commerce (MOC) issued a notification (the Notification) that is potentially troublesome for Thai private limited companies with directors residing in different countries, a common feature of …
Even before Barrack Obama became the 44th President of the U.S, a sea change in the enforcement of international anticorruption laws had started. The extent of that sea change became evident in December 2008 when Siemens AG and three of …
The last several years have seen a dramatic increase in enforcement of the U.S. Foreign Corrupt Practices Act ("FCPA"), which, as most AMCHAM members will know, is a broad law that criminalizes corrupt payments to foreign officials. In the prior …
Access the Thai Chapter of the 2013 edition of the Getting the Deal Through’s guide to Anti-Corruption Regulation, authored by PriceSanond lawyers, by clicking here or clicking below. We also have reports in the Anti-Corruption section of the Knowledge part of …
The Thai Anti-Money Laundering Act B.E. 2542 (1999), as amended in 2009 (AMLA), forms the core of Thailand’s anti-money laundering law. As in many other jurisdictions, the Thai laws concerning money laundering are in their early stages of development and …
The Thai Anti-Money Laundering Act B.E. 2542 (1999), as amended in 2009 (AMLA), forms the core of Thailand’s anti-money laundering law. As in many other jurisdictions, the Thai laws concerning money laundering are in their early stages of development and …
A summary of Thai Corporate Governance laws that appeared in the 2011 edition of Getting the Deal Through, which can be accessed at: www.GettingTheDealThrough.com, authored by Andrew Wynne and Poosit Luengruengtip. Read the PDF Click here to download Adobe PDF …
Thailand enacted the National Environmental Protection Act, B.E., 2535, in 1992, but there are a variety of other laws that prospective investors – particularly investors in property projects and factories – need to consider. Those laws include, among others, the …
Thailand has had a quasi-competition law since 1979, known as the Price Control and Anti-Monopoly Act. At its inception, the law's objective was to protect consumers from inflationary pressures and from widespread collusive practices among businesses that had led to …
On February 6, 2008, the Alcoholic Beverages Control Act (ABCA) was enacted into law. The ABCA both introduces a number of new measures and codifies certain regulations that were already in effect. The ABCA provides for the designation of alcohol …
PriceSanond has significant experience registering various products on behalf of clients with the Thai government. Product registration in Thailand is based not only on the nature of the product, but also on the substances in the product and thus in …
Although the size and incidence of awards from defective goods claims have traditionally been relatively low in Thailand, this may be about to change. On 21 February 2009, the Unsafe Product Liability Act, B.E. 2551 (the Product Liability Act) came …
Although the size and incidence of awards from defective goods claims have traditionally been relatively low in Thailand, this may be about to change. On 21 February 2009, the Unsafe Product Liability Act, B.E. 2551 (the Product Liability Act) came …
There are two basic methods of enforcing a mortgage under Thai law. The first and far more common method of enforcement is to obtain a court judgment ordering the mortgaged property to be seized and sold at a public auction. …
There are two basic methods of enforcing a mortgage under Thai law. The first and far more common method of enforcement is to obtain a court judgment ordering the mortgaged property to be seized and sold at a public auction. …
A trust receipt is a method of financing the purchase of goods, as well as a security instrument over goods (generally inventory). Typically, a buyer requires financing from a bank in order to purchase goods pursuant to a letter of …
Security is collateral that is provided to guarantee fulfillment of an obligation. The obligation is often a debt, but this is not always the case. The term “mortgage” is often used interchangeably with the term “security”. From the perspective of …
Security is collateral that is provided to guarantee fulfillment of an obligation. The obligation is often a debt, but this is not always the case. The term "mortgage" is often used interchangeably with the term "security". From the perspective of …
Banks and other financial institutions in Thailand are principally regulated by the Financial Institutions Business Act of 2008 (Financial Institutions Act). Currently there are 15 commercial banks in Thailand (5 of which are foreign-owned), 2 retail banks, 15 branches of …