Assistance to debtors affected by COVID-19

The guidance, published in the Royal Gazette on 22 December 2021, addresses the temporary relaxation of measures for entities providing assistance to debtors affected by COVID-19 for the period from 1 January 2022 to 31 December 2023, or until the Bank of Thailand makes changes to such measures which must be complied with.

Keywords: Mazars, Thailand, Accounting, TFAC, COVID-19,Royal Gazette, Bank of Thailand

10 March 2022

Entities, including credit card businesses, businesses providing loans secured against vehicle registration without collateral, personal loan businesses under the supervision of the Bank of Thailand, as well as certain entities not under the supervision of the Bank of Thailand, such as leasing, hire-purchase, motorcycle hire-purchase, and factoring businesses, which choose to apply the guidelines to debt classification and the calculation of allowances for expected credit losses on loans to customers and troubled debt restructuring must disclose the information listed.

For more details (in Thai only), please refer to “Guidelines regarding the provision of financial assistance to the debtors affected by the COVID-19”, published 22 December 2021.

Reference: TFAC announcement