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Tax Alert: Proposed Adoption of New Overseas Income Rules

Tax & Legal

Last year, the Thai Revenue Department (“TRD”) issued Departmental Instructions No. Paw 161/2023 and Paw 162/2023 concerning foreign-sourced income. According to these instructions, any Thai tax resident with foreign-sourced income will be taxed in Thailand when such income is remitted into the country, regardless of when you remit it.

| 2 min read | 21 Jun 2024

New Announcement of the BOI regarding the promotion of Digital Industry

Tax and Legal update 4/2024

On 15 March 2024, the Board of Investment (“BOI”) published an Announcement No. Sor 2/2024 by virtue of the Investment Promotion Act 1977, to promote investment in digital businesses in response to changing business operations and technology in the digital industry.

| 1 min read | 17 Apr 2024

Promoting ESG excellence through tax

ESG

ESG has become a vital component to business, with increasing scrutiny on companies to achieve sustainability-related goals. Join us as we examine how to add value to your ESG agenda through the latest global tax and ESG developments.

4 min read | 22 Dec 2023

Focus on your Core, Outsource the Rest: Navigating the Future of Competitive Business by Tikomporn Kuanpoonpol

Report

2024 is set to be a year of mass disruption as long-standing business models are tested by the rapid pace of technological advancement, causing economic upheaval around the world. In the last great technological leap, we saw traditional businesses such as Blockbuster, Tower Records and Kodak disappear as Netflix, Spotify and Instagram came from nowhere to dominate.

09 Apr 2024

Thai Revenue Department conducts public hearings on the draft legislation regarding Pillar Two

Tax and Legal update 3/2024

On 7 March 2024, the Cabinet agreed and approved the principle of OECD Pillar Two, also known as Global Minimum Tax, and tasked the Thai Revenue Department (“TRD”) with formulating the corresponding legislation.

| 6 min read | 12 Mar 2024

Transfer Pricing update 2022

TAX AND LEGAL

This tax news will be of interest to: Thai tax entities with a total annual revenue of more than THB 200 million, which have also had transactions with related companies

Narumol Limprasert

| 14 Feb 2022

Country-by-Country Reporting: Notification Requirements in Thailand

Tax and Legal

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.

26 May 2022

Transfer Pricing update and the New E-Services Tax

TAX AND LEGAL

This newsletter provides an update on Thailand’s Country-by-Country Reporting regulations involving various business circumstances, for accounting periods beginning after 1 January 2020.

01 Mar 2021

Tax filing and payment deferrals: Are they enough?

TAX AND LEGAL

With Thai businesses and citizens tightening their belts amid the COVID-19 economics crisis, we examine whether the Thai government's current tax reduction will provide sufficient help.

Tanva Mahitivanichcha

| 29 Apr 2020