Audit, Accounting & Hospitality Experts
Country-by-Country Report Requirement in Thailand According to Section 71 bis and Section 71 ter of the Thai Revenue Code, taxpayers that have related parties and earn annual revenue of at least THB 200 million are required to prepare and submit a Transfer Pricing Disclosure Form within 150 days after the year-end (the same deadline as...
Thailand Approves New Measures to Attract Skilled and Wealthy Expats The epidemic of coronavirus disease 2019 (“COVID-19”) has been severed and protracted from 2020 until today. As a result, the Thai government has implemented strict epidemic prevention and lockdown measures to prevent the spread. Consequently, gross domestic product (“GDP”) and domestic investment are greatly reduced....
Extending the Enforcement Period for Another 3 Years to Modify the Non-Qualifying Building for Hotel Business On 6 August 2021, the Ministerial Regulations Prescribing Qualifications of Other Types of Building Used in Hotel Business Operation (No.3) B.E. 2564 (2021), issued by the Ministry of Interior, was announced in the Royal Thai Government Gazette in order to extend the period for...
New e-VAT Legislations for Foreign Source Digital Service and e-Platform Changes to VAT laws On 10 February 2021, a new Act Amending to the Thai Revenue Code (No.53) B.E. 2564 was legally enacted concerning foreign companies’ duty to collect and remit VAT on digital services and e-platforms as published in the Thai Royal Gazette. This new VAT filing obligation applies to all foreign companies who provide their digital/electronic service and/or e-platform service to Thai individuals. These foreign companies are required to apply for Tax I.D. status as...
Compensation Schemes for Social Security Assistance The cabinet of ministers has approved the compensation scheme for the secured employer and employee according to Section 33 on July 20, 2021. The Social Security Office (“SSO”) has been allocated this compensation as part of the Royal Decree that authorizes the Ministry of Finance to lend capital to...