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Doing Business in Thailand

You will find here a series of summaries providing an overview of useful tax regulations, processes and legal issues for Doing Business in Thailand.

Mazars Thailand Legal Update - February 2010

Thailand's Department of Business Development plans to introduce an e-filing system for financial statements.

Mazars Thailand Accounting update - Adoption of IFRS

The Federation of Accounting Professions (‘FAP’) and the Securities and Exchange Commission of Thailand (‘SEC’) have announced a scheduled timeline for Stock Exchange of Thailand (‘SET') listed companies to become fully compliant with Thai Accounting Standards (‘TAS’) adopted from the International Financial Reporting Standards (‘IFRS’).

Mazars Thailand Tax Update - February 2010

Thailand’s Revenue Department is currently reviewing the Tax Privileges available for setting up Regional Operating Headquarters (’ROH’) in Thailand.

Mazars Thailand Legal update - January 2010

On 25 December 2009, the Ministry of Labour’s Wage Committee announced the new minimum wage which will be effective from 1 January 2010. The minimum wage for Bangkok and Samut Prakarn has been increased from 203 Baht to 206 Baht per day.

New BOI privileges for SMEs

The BOI ('Board of Investment') announced on 5 January 2010 that seven activities/areas for SMEs are to be classified as activities of importance and benefit to the country, and are therefore eligible for special privileges.

Thai Employment Law – Termination of an Employee

In general, under Thai labour law, the termination of an employee can be at the initiative of the employer (by dismissal) or of the employee (by resignation). This article look’s at when to notify an employee in the event of termination.

New service centre launched for investors in Thailand

The government has launched the new 'One Start One Stop Investment Centre' (‘OSOS’) for investors in Thailand. Around 20 government agencies will provide their services for both new and existing investors with no restriction on the types of company eligible to use the facility.

One Stop Service Centre for Visas and Work Permits to be relocated

The One Stop Service Center for Visas and Work Permits will relocate from Rasa Tower, Paholyothin to Chamchuree Square on Phayathai Road, close to the Sam Yan MRT station.

Value Added Tax (‘VAT’) in Thailand

Value Added Tax (‘VAT’) is a tax on the sale of goods or the provision of services. The current rates are 7% and 0% with some exemptions from VAT.

Withholding Tax in Thailand

Withholding tax (“WHT”) is a deduction from payments made to suppliers who provide a service. Whether WHT is applicable and what rate to deduct depends on the nature of the service provided. WHT also applies to interest and dividend payments.

Contact

Rob Hurenkamp

Rob Hurenkamp

Managing Director, Mazars in Thailand
+66 2 670 1100

David Mandel

David Mandel

Director - Business Development
+66 2 670 1100

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Mazars in Thailand brochure

Mazars in Thailand brochure

Mazars in Thailand is an audit, accounting, tax and advisory practice in Bangkok, currently employing over 90 professional staff of various nationalities. We have enjoyed spectacular growth, achieving a top 10 position in our market by the beginning of 2008, as well as a No.1 position in the accounting outsourcing area.

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