Summary: The draft new Trade Competition Act (TCA) was approved by the Cabinet in October 2016, and the National Legislative Assembly on 23 March 2017 and 24 March 2017. The TCA will be proposed by the Prime Minister to the King for royal endorsement. Once endorsed, the TCA will be published in the government gazette, and the TCA will become effective after 90 days from its publication in the government gazette.
The current Trade Competition Act B.E. 2542 (1999) shall be repealed and replaced by the TCA. → Read more
Summary: Impact of the Act Amending Provisions of Laws Relating to Criminal Liability of Juristic Person Representatives (effective 12 February 2017) on Directors’ Criminal Liabilities Under the Act Prescribing Offences Related to Registered Partnerships, Limited Partnerships, Limited Companies, Associations, and Foundations B.E. 2499 (1956) → Read more
Summary: The Thai government (“Government”) announced changes to certain regulations under the Thai Revenue Code (“Revenue Code”) to reflect the growth of the Thai economic status and cost of living. Most notably were changes to the rules on deduction of personnel expense, personal allowances and personal income tax rates.
For greater incentive to carry on business, the Government is encouraging business owners to establish a legal entity having only one shareholder by providing additional tax benefits to companies incorporated between 10 August 2016 and 31 December 2017 upon transfer of individual assets as payment in kind for capital payment in such company. → Read more