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.
To alleviate the economic hardship caused by the COVID-19 pandemic, the Thai government will implement several fiscal and tax policies.
On 26 March 2019, the Cabinet approved draft Royal Decrees revoking all tax benefits granted by the Thai Revenue Department (“TRD”) to the following Board of Investment (“BoI”) regimes: 1. Regional Operating Headquarter (ROH); 2. International Headquarter (IHQ); and 3. International Trading Center (“ITC”)
In the final part of this article, we continue our examination of how customs rules for free trade agreements (“FTAs”) should be modernised to meet the needs of a digital economy.
The growth of the digital economy has broken down traditional commercial and geographical boundaries. Goods and services are being delivered and consumed across borders in ways that were unforeseen and at a pace that was unprecedented just decades ago.
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