The National Council for Peace and Order issued Order No. 21/2560 amending provisions of the Civil and Commercial Code, the Labour Protection Act, the Public Limited Company Act, and the Social Security Act. The Order was published in the Government Gazette and became effective on 4 April 2017.
A limited company must hold an Annual General Meeting (“AGM”) within four months of the fiscal year-end in order to consider and approve the audited financial statements and other matters, as required by law (such as the rotation of directors), and as stipulated in the Articles of Association (“AoA”) of the company.
The Ministry of Industry has raised the fees for registering machinery by an estimated 20 per cent to reflect the present economy and production costs, including the machinery inspector’s licence fee.
The Social Security Act requires employers with one or more employees to register for and contribute to the Social Security Fund.
The minimum wage will increase by 5 to 10 baht across most provinces of Thailand on 1 January 2017. The minimum wage of 300 baht a day will remain unchanged in the following 8 provinces: Nakhon Si Thammarat, Trang, Ranong, Chumphon, Sing Buri, Narathiwat, Pattani, and Yala.