Knowledge Base


Update on Thai Government’s Stimulus Package – Additional Reductions to Social Security Fund Contributions

Posted on September 15, 2020

This update is concerned with providing an update on the reductions to Social Security Fund contributions as promulgated by the Thai Government on 14 September 2020

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Assessing Personal Income Tax on income received from overseas

Posted on September 15, 2020

This note provides a preliminary overview of the key elements of the law to be aware of when considering the assessment of personal income tax on income received by individuals from overseas sources.

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Update on Thai Government’s Announcement of Security Measures with respect to Electronic Meetings

Posted on July 20, 2020

This note summarises the security measures issued by the Ministry of Digital Economy and Society in terms of what shall be required of companies wishing to conduct a Board Meeting or General Meeting of Shareholders through electronic means.

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Ten Draft Amendments to the Civil And Commercial Code Relating To Corporate Governance And Company Administration In Thailand

Posted on July 2, 2020

These ten proposed amendments, if enacted into law, would deliver significant reforms to the governance and administration of Thai Private Limited Companies.

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Update on Thai Government’s Stimulus Package

Posted on April 14, 2020

This note focuses on measures introduced by the Thai government to reduce withholding tax rates and social security contributions in Thailand in response to the COVID-19 pandemic.

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Registering non-profit organisations and NGOs in Thailand

Posted on April 7, 2020

There are a number of ways that a foreign non-profit or non-governmental organisation (NGO) may legitimately formalise their status in Thailand. The following review outlines the advantages and disadvantages of the three different legal vehicles most commonly associated with foreign non-profit organisations and NGOs operating in Thailand: a Foreign Private Organisation, a Thai Foundation and a Thai Association.

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The Foreign Business Act and Foreign Business Restrictions in Thailand

Posted on December 17, 2019

The Foreign Business Act B.E. 2542 (1999) is the first piece of legislation that a foreign investor interested in Thailand should consider. Please contact us if you would like to read our full note on foreign business restrictions in Thailand, such as foreign ownership of equity in Thai corporate entities and the requirements for a minimal level of Thai ownership

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Obligations of the Board of Directors in Thailand

Posted on December 17, 2019

Directors of Thai companies are subject to a host of duties which they are legally obligated to abide by. This note provides answers to commonly asked questions regarding the obligations of the board of directors of Thai companies. Please contact us if you would like to read our full note on the obligations of company directors in Thailand.

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Shareholder Rights in Thailand

Posted on December 11, 2019

The rights and powers of the shareholders of Thai companies are governed by Thai law as well as each company’s articles of association. This note provides answers to commonly asked questions regarding the rights of the shareholders of Thai companies.

Please contact us if you would like to read our full note on shareholder rights in Thailand.

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Changes to Land and Building Tax in Thailand

Posted on December 11, 2019

The Land and Building Tax Act B.E. 2562 (2019), brings considerable changes as to how land owners and house/condominium/apartment owners are taxed in Thailand.

Please contact us if you would like to read our full note on the changes to land and building tax in Thailand.

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e-Tax Invoices and e-Receipts in Thailand

Posted on December 11, 2019

The Thai Revenue Department allows certain qualified vendors to issue, deliver and store tax invoices and receipts electronically. In particular, there are two different systems which are currently being administered – the ‘e-tax invoices and e-receipts’ system, and the ‘e-tax invoice by email’ system.

Please contact us if you would like to read our full note on e-tax invoices and e-receipts in Thailand.

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Regional Operating Headquarters

Posted on November 13, 2014

The Thai government offers attractive investment privileges to multi-national corporations which set up a regional operating headquarters in Thailand. In particular, there are potentially some considerable tax benefits available to a Thai regional operating headquarters.
Nevertheless, there are certain conditions and criteria that must be met in order for an entity to qualify for the status of a regional operating headquarters and therefore be entitled to such privileges.

Please contact us if you would like to read our full note on regional operating headquarters in Thailand.

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The AEC and Foreign Ownership Laws Relating to the Service Sector in Thailand

Posted on October 2, 2014

Thailand together with the other ASEAN states have committed to creating a single market and production base in the ASEAN region – the so called “ASEAN Economic Community” or “AEC” for short. The AEC envisages that there are substantially no restrictions to ASEAN persons in providing services and establishing companies (which provide services) across national borders within the region.

But what commitments has Thailand made to the liberalisation of its services sector within the AEC? And how might they implement their commitments in practice?

Please contact us if you would like to read our full note on the AEC and
the service sector in Thailand.

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With over 20 years of experience in Thailand, ICR has witnessed developments in the market first-hand. Our team are active in publishing on matters relating to changes in the legislative and regulatory framework, and the challenges and opportunities that companies and investors may encounter in Thailand.