Insights

The effective application of artificial intelligence, as we’ve argued at length elsewhere, has already begun to reliably distinguish forward-looking businesses from those still coasting on the momentum of previous successes. Of course, this level of operational advancement remains difficult to achieve, as the integration and scaling of AI solutions represent a long and complex journey — though it is well worth the investment when implemented skilfully.

Multinationals face significant challenges when setting up each new branch or subsidiary in a foreign country. Finding skilled, experienced local staff can be more difficult than many business leaders expect – and training them to fit in with the existing multinational company culture is no easy task either. An even bigger obstacle tends to be the varying regulatory environments at both the local and national scale where the new branch or subsidiary will open. In many cases, company headquarters will find itself unfamiliar with the regulations, licences, and application processes needed to operate in their new location. Failure to comply can seriously damage brand reputation, and lead to serious legal implications.

On 7 March 2023, the Cabinet approved in principle official plans for implementing Global Minimum Tax under the OECD BEPS – Pillar 2 regime. One of the assignments to the BOI was to provide relieve to the companies impacted by this Pillar 2 in Thailand

Thailand is one of over 135 countries that have endorsed international tax measures to be introduced by the OECD/G20, referred to as Base Erosion and Profit Shifting (BEPS) 2.0. The original BEPS Project identified 15 Action Items, including harmful tax practices and tax treaty abuse, which the Thai Government has addressed, the latter through implementing the multilateral Instrument. The latest package of BEPS rules is the two pillars in BEPS 2.0. and it is aimed at addressing the tax challenges of the digitalization of economies.

international business report

workshop

Doing business in Thailand

ai, automation

Grant Thornton Thailand cordially invites you to a highly interactive workshop on hyperautomation.

The Country-by-Country Multilateral Competent Authority Agreement (CbC MCAA) is a mechanism for mutually sharing financial information between participating countries' tax authorities. It promotes transparency and accountability among multinational enterprises (MNEs) and helps tax authorities identify and address tax evasion, base erosion, and profit shifting.

Transparency and Exchange of Information for Tax Purposes

New Amendment to the Thai’s Labour Protection Act – WFH Arrangements Labour Protection Act (No. 8) B.E. 2566 (“LPA”) was published in the Government Gazette on 19 March 2023 and will be in force after 30 days therefrom. This new amendment outlines the arrangement for the employee and employer to work from home or other places outside the place of business or office of the employer. A newly added Section, 23/1 of the LPA, provides the framework of a work-from-home arrangement.

Progress on women in senior leadership stalling

transfer pricing regulations

With pandemic-related work disruptions now mostly in the rear view mirror, businesses at last have a relatively clear view of what the coming months and years will bring. This clarity lets everyone — from investors and R&D teams to marketers and HR managers — chart a course forward for the post-COVID era.

For mid-market businesses, navigating the environmental, social and governance (ESG) landscape is a complex challenge, and their approach will depend on size, maturity, sector – and the priorities of stakeholders.