On June 23rd, 2020, the Thai Cabinet approved a Draft Act which will amend the Civil and Commercial Code, with regards to the establishment of limited companies. The Act aims to make it easier for individuals to set up limited companies and facilitate the establishment of new businesses, SMEs, and start-up enterprises to stimulate the…
All goods that are imported into Thailand must be reported to the Thai Customs Department. The steps required to import products into Thailand legally are outlined below. Step 1 – E-Customs system registration As of January 1st, 2007, the procedures for importing goods into Thailand have been centralized into the online e-Customs system. In order…
All goods exported from Thailand are required to be reported to the Customs Department and are subject to customs controls. The steps for exporting goods from Thailand are as follows: Step 1 – E-Customs system registration Since 2007, Thailand’s export procedures have been centralized into the online E-Customs system. To register for the E-Customs system,…
The Thai Revenue Department has raised its standard of tax auditing by joining the Tax Inspectors Without Borders (“TIWB”) program and requesting experts to share their know-how and exchange auditing experiences with Thai Revenue Officers. The purpose of joining this project is to close tax loopholes regarding multinational e-commerce businesses and newly established businesses, and…
It is our great pleasure to announce that FRANK Legal & Tax has been named a “Rising Star” law firm by Asia Business Law Journal. This prestigious award is based on extensive research conducted by Asia Business Law Journal, in which thousands of in-house counsel were invited to identify the Thai law firms that showed…
Airbnb, Booking.com and similar apps are popular in Thailand. These online platforms allow property owners (landlords) to rent out their property (partially or wholly) on a short-term (daily/weekly) basis. With the price of renting a property via the online platforms often being cheaper than staying in a regular licensed hotel, the platforms create a viable…
The Thai Immigration Bureau recently announced that starting from 30th June 2020, landlords will no longer need to file reports on their foreign guests every time they arrive at their properties. Landlords refer to Thai and foreign nationals who own property in Thailand, hotel managers and other accommodation operators. Previously, landlords needed to comply with…
Thailand became a party to the Multilateral Convention on Mutual Administrative Assistance in Tax Matters (MAC), making Thailand the 137th state to become a party to the agreement. The MAC was established jointly by the Organization for Economic Co-operation and Development (“OECD”) and the Council of Europe in 1988 to promote tax transparency, fairness in…
On June 9th, 2020, the Thai Cabinet approved a draft amendment to the Thai Revenue Code which would impose a value-added tax (VAT) on foreign E-service providers and E-platform operators (with no permanent establishments in Thailand) that received payments from users located in Thailand. The new VAT requirement is expected to apply to all forms…
When talking about debt collection, people often think about the deceptive and unethical practices involved in the process of collecting debts. In Thailand, prior to 2015, debt collectors would often resort to extreme measures to ensure that debts are collected from the debtor, without fear of legal consequences. These methods include but are not limited…
FRANK Legal & Tax hosted a webinar for The Danish Management Society (VL) to inform about the new Personal Data Protection Act (PDPA). Thank you for attending, we hope everyone enjoyed the event. The objective of the PDPA is to protect all personal data, such as people’s educational background, financial status, health records, criminal records,…
On June 27th, 2014, the National Council for Peace and Order (NCPO) issued Order No. 74/2557 on Teleconferences through Electronic Means. This order allowed the attendance of board and shareholder meetings via electronic means, although with certain limitations. Before this order, the default requirement under Thai law was that all corporate meetings had to be attended…
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