Government Involvement in Thailand’s Human Resource Development

Reading Time: 4 minutesWhat are the HR incentives granted by the BOI to investors who contribute to human resource development? The Thai government is active in pursuing industrial and technology development in the eastern seaboard region under the umbrella of the Eastern Economic Corridor (EEC). The promoted territory initially comprises three provinces, namely Chachoengsao, Chonburi, and Rayong. Economic […]

THAILAND: How the Private Trust Bill functions in terms of foreign private wealth for establishing a trust in Thailand?

Reading Time: 4 minutesTrust arrangements used to be totally prohibited in Thailand, but were opened for the capital market investment and fundraising in 2007 by the legislation of The Trust for Transactions in Capital Market Act. Soon after enactment, the Real Estate Investment Trust (“REIT”) became available from various financial institutions for the purposes of fundraising and investment […]

ASEAN Employment Legal Update

Reading Time: 9 minutesDFDL’s Employment Practice Group is dedicated to advising clients on employment and labor issues and preparing human resources documentation that is compliant with local laws.  Our employment team’s in-depth knowledge of the law and practices in the countries where we operate allows us to provide specialized, tailored, and practical advice on issues that arise in […]

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: 4 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 […]