Cannabis is now legal in Thailand for medical use and research

Reading Time: 5 minutesWhat do investors need to know about it? The latest amendment to the Narcotics Act, effective as of 18 February 2019, allows only the distribution and possession of cannabis for study and medical purposes and in limited quantities. The use or possession of cannabis for purposes other than the ones mentioned above is still prohibited […]

Regional News Alert: Extra Severance Pay and More Benefits for Employees in Thailand in Early 2019

Reading Time: 5 minutesChanges to Thailand’s Labor Protection Act – What do you need to know? On 13 December 2018, the draft amendment to the Labor Protection Act (LPA) was approved by the National Legislative Assembly and is expected to come into force soon. The legislation was changed to become more favorable for employees throughout 2018 and is […]

Thailand Legal Alert: Essential Differences Under Thailand’s New Competition Law

Reading Time: 6 minutesThailand was one of the first ASEAN Member States to enact a competition law with the Price Fixing and Anti-Monopoly Act of 1979. However, that legislation was generally accepted to have been ineffective in relation to competition law enforcement and was replaced by the Trade Competition Act B.E. 2542 (1999) (“Old TCA”). The Old TCA came into […]

Thailand Tax Alert: Thai Government Announces New International Business Center (“IBC”) Tax Incentive

Reading Time: 3 minutesOn 28 December 2018, the Thai Revenue Department (“TRD”) announced a new program of tax incentives through the issuing of Royal Decree No.674 (“RD 674”). Key points of RD 674 Section 3: Definition of IBCs Section 4, 5 and 6: PIT at 15% for foreign nationals working for IBCs and their required qualifications Section 7: […]

Regional Update: Thailand’s 2019 Power Development Plan: What to Expect

Reading Time: 3 minutesDFDL Thailand, Bangkok | Expected in early January, Thailand’s forthcoming amended Power Development Plan (PDP) will set the course for nationwide power system development and operation over the coming years. The amended document will represent the first major update to Thailand’s PDP since 2015’s version, which in turn came three years after its predecessor. Each version […]

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Thailand Legal Alert: Summary of Changes to LPA

Reading Time: 3 minutesThe National Legislative Assembly approved a resolution for the new draft Labor Protection Act (Amendment) on 14 December 2018. The amendment to the LPA is expected to be published soon and will come into effect within 30 days from the publication date in the Royal Gazette. The law is expected to take effect in March […]

Thailand Tax Alert: New Law on Transfer Pricing

Reading Time: 2 minutesOn 22 November 2018, the Thai Revenue Department (TRD) took another significant step towards tightening its transfer pricing compliance and enforcement regime with the release of “the Additional Revision of the Thai Revenue Code No.47 (TRC47)”. Over the past five years, based on the Base Erosion and Profit Shifting (“BEPS”) initiatives of the OECD, many jurisdictions […]

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Thailand Tax Update: New Tax Incentives for Angel Investors

Reading Time: 2 minutesAt the end of January 2018, the Thai government approved a Ministerial Regulation providing a tax incentive (“Tax Incentive”) to any Angel Investor investing in a start-up company that conducts a promoted business activity in an industry approved by the National Science and Technology Development Agency (“NSTDA”). More specifically, the Tax Incentive is granted to […]

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Thailand Tax Alert: The Thai Government Announces New International Business Center Incentives and the Cancellation of the IHQ Program

Reading Time: 2 minutesOn 10 October 2018, the Thai government announced the cessation of the International Headquarters (“IHQs”) program (which also included Regional Operating Headquarters or “ROHs” and International Trading Centers or “ITCs”) and the creation of a replacement initiative; International Business Centers (“IBCs”). The move is part the OECD Inclusive Framework for Base Erosion and Profit Shifting (“BEPS“). […]

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Becoming a Director in Thailand?

Reading Time: 4 minutesDirectors’ duties and liabilities: fundamental requirements to keep a director safe from legal exposures The directors of a private limited company are considered the lawful representatives of the company and they act for and on behalf of the company. In performing their role, the directors, regardless of their nationality, are bounded by the same directors’ […]

Thailand: A Promising Location for Investment

Reading Time: 3 minutesEven against the background of significant changes of the political landscape in Thailand over the past years, as well as the shortage of skilled workers, the country is still regarded amongst one of the best destinations in ASEAN for foreign investment. Thailand is the second largest, highly diversified economy in ASEAN after Indonesia and the […]