Paul Ashburn and Anna Selina De Vera of HLB Thailand say the decree underlines the country’s commitment to pillar two implementation as Thailand aims to become one of the first two Southeast Asian countries to join the OECD
LTR visa improvements approved by cabinet
Thailand’s Board of Investment (BOI), the agency in charge of screening applicants for Thailand’s long term resident (LTR) visa program launched in September 2022, recently presented the cabinet with a progress report on the implementation of the economic and investment stimulus measures to attract high-potential foreigners to Thailand (LTR Visa measures) and the problems and obstacles in implementing such measures.
Thailand’s foreign income tax changes now in force
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
