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The current Trade Competition Act B.E. 2542 (1999) shall be repealed and replaced by the TCA.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
With the recent break-up between a major US Cola Company and its franchise bottler and sole distributor in Thailand, Company A, the US beverage giant has to maintain its distribution and availability in the Thai market. The cola giant was confronted by this dilemma since its franchise agreement with Company A ended in November 2012 when Company A declared it was not going to sign a new agreement. → Read more
The demand for up-to-date and diversified infrastructure and public services are increasing which mainly comprise of large projects that require high-value investments. The public sector, imposed with the duty to provide adequate infrastructure and public services for the needs of its people, is thus required to establish efficient infrastructure at a minimum of expense. Hence, the plan to allow private sectors to jointly operate in State undertakings for providing infrastructure and public services has been established. → Read more
At present, many businesspersons, especially foreigners, are not aware of or do not understand whether or not they need to allow their employees to have days off on the traditional public holidays such as Visakhabucha Day, Asarnhabucha Day, Chulalongkorn Memorial Day, Chakri Day, etc. as announced by the government, or whether or not they are able to postpone such public holidays and allow their employees to have days off on other days rather than such public holidays. This can cause many problems in the management of a business as employers may be faced with legal proceedings brought upon by their employees and be penalized by relevant laws. Therefore, in order to bring an understanding to the issue of traditional public holidays, details of the same are laid out below. → Read more
On 5 February 2013, the Cabinet approved the resolution regarding the proposal of the Non-Life Insurance Bill and the Life Insurance Bill for amendment of the Non-Life Insurance Act B.E. 2535 (1992) and Life Insurance Act B.E. 2535 (1992) (the “Bills”) to the House of Representatives for deliberation as an urgent matter. On 21 March 2013, the House of Representatives passed the resolution to accept the principle of the Bills, which are currently under consideration of the Ad-hoc Committee. → Read more