Mazars in Thailand technical update – April 2021

Keywords: Mazars, Thailand, Tax, Legal, Accounting, IFRS,Transfer-pricing, AGMs, COVID-19, IFRS 16, IOSCO

07 May 2021

Tax

• Transfer-pricing disclosure form

Legal

• New interest rates under the Civil and Commercial Code
• 2021 AGMs can be postponed
• Provision of services by foreign entities to the Thai Government and state enterprises

Accounting

• Recognition of a provision for liquidated damages

IFRS

• Amendment to IFRS 16 on rent concessions beyond 30 June 2021
• IFRS Foundation makes rapid progress toward creation of international Sustainability Standards Board
• IOSCO releases statement on going concern issues in the context of the Covid-19 pandemic
• Redeliberations begin on Primary Financial Statements project