Insights

Forecast for Thailand’s GDP, Inflation Rates, and Interest Rates

The new report comes at a particularly important moment, as the economic shock of the pandemic begins to dissipate, and Thailand prepares to eliminate its last remaining COVID-era travel restrictions. At the same time, businesses throughout the region must prepare for possible supply shortages, rising energy costs, and inflation.

The amendment is intended to adapt to current technology, reduce unnecessary procedures, increase business flexibility, and enhance the country’s competitiveness.

Tax audit is the process of verification and inspection of the tax return(s) and taxpayers' books to ensure that their tax computation complies with tax law.

The future of finance will be decided by companies that focus on technology, people, and regulatory compliance to adapt to a post-pandemic landscape.

Flattening your organisational structure creates greater operational agility while improving staff morale and ownership.

Diversity, equity, and inclusion (DEI) are more than just policies and marketing tools. They are quickly becoming a top priority for organisations of all types and sizes, as companies that embrace DEI outpace their competitors and perform better as a result of integrating DEI principles as part of their core DNA.

Early this year, Thailand has signed and deposited its instrument of ratification of the MLI which now covers over 1800 bilateral tax treaties. This is a strong commitment to prevent the abuse of tax treaties and base erosion and profit shifting (BEPS) by MNEs. The convention will enter into force from 1 July 2022.

On 20 June 2022, the government published four notifications (“Notifications”), which are supplementary to the Thailand’s Personal Data Protection Act 2019 (“PDPA”). The Notifications set out the legal definition, rules, criteria, and conditions for several key terms relating to the PDPA including penalties for non-compliance to PDPA. Provided below are the significant points of the Notifications:

As companies adapt to a fractured and uneven recovery post-COVID recovery period, those that integrate best practices in sustainability will lead the way.

Grant Thornton values the strength of the Thai healthcare industry and wished to capture market trends under Thailand and international healthcare environments.

The Personal Data Protection Act (“PDPA”) came into full effect on 1 June 2022 and its ramifications are extensive.

The Country-by-Country reporting notification must generally be filed as soon as possible and no later than 12 months after the last day of the accounting year.

Thailand would still be unable to return to its pre-COVID economic trajectory. The problem boils down to simple demographics. Thailand, like a number of other countries, is currently undergoing a pair of developments whose implications are hugely underappreciated.

As we enter the third year of this pandemic, many businesses have made the shift to a hybrid work model. The following tips can help your organisation embrace a successful and sustainable hybrid work model, to prosper throughout the remainder of this pandemic and beyond.

Company culture is more than just an abstract concept – it can retain talent as well as clients. Here we show some of the key components that constitute a strong company culture.