On 19 April 2016, The cabinet approved the restructuring of personal income tax for 2017 as proposed by the Finance Ministry. The following new personal income tax rates will apply in next year: Tax rates The tax rates for employment income and hire of work are as follows: Deduction Deduction against employment income 50% of…
On 24 May 2016, the Royal Thai Government has approved a draft of a Civil and Commercial Code Amendment Act. This Amendment Act will introduce changes with regards to the registration of limited liability companies, amalgamation of companies, dividend distribution, and other matters, and aims at making corporate legalities more efficient and in line…
FRANK Legal & Tax has offset its Corporate Carbon Footprint 2015 by supporting Gold Standard high-quality carbon mitigation projects. FRANK Legal & Tax takes on responsibility for climate protection and is a climate neutral company. Together with the climate protection partner ARKTIK the CO2 emissions from its corporate activities were calculated and afterwards neutralized by…
From street food to high-end restaurants, and from Thai to international cuisine, Bangkok is a paradise for foodies. According to statistics in the month of June 2015, there were 10,056 companies in the restaurant business with a total investment amount of approximately 67 Billion Thai Baht. As the hospitality sector is restricted to foreigners, naturally…
The Thai Immigration Office has issued a new form called “Record of Foreigner Information” which we show in the scan below. Every foreigner must complete this form and attach a photo as a part of the 90 days report, visa application, re-entry permit at the Immigration Office and One Stop Service Center (Chamchuree Square) from…
Thailand is a wonderful place to visit on holiday and many foreigners who travel to Thailand wish to retire here later in their lives. For such foreigners, Thailand offers a very convenient form of visa – the retirement visa. 1. Requirements of the Retirement Visa The retirement visa (or non-immigrant O-A visa) is available…
1. Requirements for Business Visa Business visas (“non-immigrant-B-visas”) are issued by Thai embassies and consulates abroad. They can be issued for a 90 days period or for one year. a) Non-B visa 90 days (from Thai embassy abroad) For a 90 days non-B-visa, some embassies/consulates (particularly in the neighboring countries may require the presentation…
For business trips to or short term employment of foreigners in Thailand, this article summarizes the available options regarding the necessary visa and work permits: 1. Business Visa Foreigners who wish to work, conduct business or undertake investment activities in Thailand must apply for a Non-Immigrant Visa at the Royal Thai Embassies or Royal…
This article summarizes the rules which apply in case of a company stopping its operation temporarily: 1. Notification Requirements According to Section 85/12 of Revenue Code, if the company wishes to stop its operation for longer than 30 days, the company must submit a notification to that effect to the Revenue Department where…
If a foreign employee is married to a Thai citizen, the foreigner may apply for a non-immigrant-O-visa (dependent visa) in Thailand. For the one-year extension of such visa, issued by the Immigration Office, in particular the following will be required: Marriage certificate; Evidence of income of not less than 400K/year, e.g. bank statement; ID…
A foundation consists of assets appropriated for charitable, religious, artistic, scientific, literary, educational or other purposes for the benefit of the public and not for profit generation. The specially allocated assets of the foundation must be managed to (or “intending to”) implementing the objectives of the foundation. They shall strictly not be used for…
According to a Finance Ministry regulation of 1st January 2016, small and medium-sized businesses who agree to follow the “one book accounting” practice will not be investigated for back taxes and enjoy tax breaks for two years. There are 2 types of businesses that may get the benefits of no tax audit of the…
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