This is Part II of a blog contribution that discusses the requirements for obtaining a permission to run a hotel under Thai laws and regulations:This is Part II of a blog contribution that discusses the requirements for obtaining a permission to run a hotel under Thai laws and regulations: 3. The Applicant for the Hotel…
The Inheritance Tax Act B.E. 2558 (2015) (“ITA”) took effect on 1st of February 2016. It stipulates the following: 1. Inheritance Tax a. Tax Base The inheritance tax base shall be calculated from the inheritance, which an inheritor received from each testator, whether it is received once or several times, above 100 Million THB. (Section…
Residential properties which are rented out as daily accommodations for tourists are under intense scrutiny these days in Thailand, in particular with regards to the requirement to obtain a hotel license. The main reason is clearly the high increase of rentals through online portals such as Airbnb. This is Part I of a blog contribution…
We are proud to announce that FRANK Legal & Tax Ltd. sponsored the German Help Association event at the Fest der Deutschen which was held on 11th March 2017, Ballroom at Plaza Athenee Hotel. German Help is an association that primarily assists German nationals who encounter problems while staying in Thailand. The Association also offers…
The Thai Board of Investment (BOI) has introduced its new policy for incentives for qualified investment projects. Under the new policy, following tax and non-tax incentives may be granted to successful applicants: Exemption of corporate income tax for up to 15 years Exemption of import duties: on machinery raw or essential materials imported for use…
Under the Royal Decree No. 604 of 2016 (B.E. 2559), tax benefits were given to companies or partnership’s expenses of domestic investment. On 24th January 2017, the cabinet approved a one year extension of this tax measure, that is for the period from 1st January 2017 until 21st December 2017. It should be noted that…
The Thailand Board of Investment (BOI) is an agency of the Government of Thailand to promote investment in Thailand. It provides investment information and services for investors, as well as many incentives. E-commerce is one of the business categories that are promoted by the BOI. In case a foreign company would like to conduct e-commerce…
Many foreigners living in Thailand meet their future spouses here and get married in Thailand. And to deal with potential legal issues in advance, the couples often chose to enter into a prenuptial agreement (often referred to as “prenup”). According to the Thai Civil and Commercial Code (“CCC”), the prenup agreement is valid when…
FRANK Legal & Tax has offset its Corporate Carbon Footprint 2016 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…
Whether you have business opportunities overseas or are taking care of family members back home, one of the big worries is exchange rates. Even small changes in the dollar’s value can cost you a significant amount, although things could also go in your favor by opening Multi-Currency Account. Multi-Currency Account or Foreign Currency Account is…
Starting from 1 January 2017, the daily minimum wage in Thailand will increase by 1.7% to 3.3% (amount depending on province) in most provinces of Thailand. This increase has been approved by Central Wage Committee on 19 October 2016. ML Puntrik Smiti, Labour Ministry permanent secretary, stated that eight provinces will maintain a minimum salary…
What are the definitions of “termination” and “lay-off”? Termination of employment is an employee’s departure from a job. Termination may be voluntary on the employee’s part, or it may be at the hands of the employer, often in the form of dismissal (firing) or a layoff. Dismissal or firing is generally thought to be the…
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