Tax Hub

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.

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.

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.

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.

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.

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

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.

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.

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.

To alleviate the economic hardship caused by the COVID-19 pandemic, the Thai government will implement several fiscal and tax policies.

Organisations must be aware of the circumstances in which they are allowed to collect data to comply with Thailand’s Personal Data Protection Act.

This article examines the RCEP trade agreement as it stands in late 2019, while also comparing it to the CPTPP agreement.