Thailand’s Revenue Department has revised its approach to taxing foreign income received by tax residents. Paul Ashburn of HLB Thailand summarises the changes
New tax measures to stimulate real estate sector
On April 9, 2024 the Cabinet approved new real estate stimulus measures proposed by the Ministry of Finance, including reduced registration and transfer fees for properties not exceeding Baht 7 million in value.
Thailand offers Incentives to attract world-class events; expands PCB manufacturing incentives
Thailand’s Board of Investment (BOI) has approved incentives to encourage investment in organizing world-class events in Thailand, such as large international concerts, sporting activities, and festivals.
OECD’s Insight: A Snapshot of Thailand’s Economic Landscape
On 7 December 2023, the OECD unveiled its Economic Survey of Thailand. Post-COVID-19, the economy has rebounded, particularly in the tourism sector,
Navigating Sustainability: IFAC’s Checklist Shared by HLB Thailand
HLB Thailand shares IFAC insights in the Small Business Sustainability Checklist. Empower SMEs for a sustainable future. Download now
Employers must submit payroll tax returns via electronic channels only starting January 2024
Thailand advances towards 100% Digital Tax Ecosystem by 2028 via Revenue Dept. Notification No. 438, mandating e-filing for personal income tax by employers.
New rule for taxation of foreign income from 1 Jan 2024
The Revenue Department has issued an instruction changing its interpretation of the taxation of foreign income remitted into Thailand by personal taxpayers, effective from 1 January 2024.
7% VAT rate set to continue
To relieve the burden of living expenses and build confidence in the business sector, the Thai Cabinet resolved to approve the extension of the 7% VAT rate
Navigating the tax implications of working remotely in Thailand
Paul Ashburn and Anna Selina De Vera of HLB Thailand say new tax legislation may be needed for Thailand to cement its attractiveness as a remote working base and build on the long-term resident visa scheme.
Enhancing International Tax Transparency on Real Estate
At the behest of the Indian G20 Presidency, the OECD has compiled a comprehensive report into the status of tax transparency for foreign-owned real estate.
