According to media reports, the Finance Minister Mr. Sommai Phasee stated that the new inheritance and gift tax is expected to be submitted for the cabinet’s approval on this November 2014 and should be enforced in the year 2015. Please see his following information below: The draft will stipulate a minimum rate of 10% to…
Plans to reform Thailand’s tax system, including the introduction of inheritance and property taxes, have been approved by the Chief of the military-led National Council for Peace and Order (NCPO), Gen.Prayuth Chan-ocha. The proposed reforms would raise revenue by increasing taxes primarily on the wealthy. Thailand’s Ministry of Finance (MOF) has said Chan-ocha wants the…
It is a rather unknown fact among foreign property purchasers, in particular in tourist resort destinations in southern Thailand, that Thai property law sets forth a strict regime for development of real estate projects. One significant piece of legislation in this context is the Land Development Act, B.E. 2543 (2000) (hereinafter referred to as “LDA”)….
On 19 August 2014, the Thai Board of Investment (“BOI”) has announced a decision on the new strategy for investment promotion and a plan for the next 7 years. The new BOI policy aims at strengthening Thailand’s competitiveness, creating value for the industrial sector, and shifting the country to a high-income nation. It is expected…
In our practice we often see that there is a great deal of confusion among foreigners in Thailand regarding the legalities of owning a house. Please see the below article (published in Samui Phangan Real Estate Magazine) which provides some information and clarification:
The website of the Thailand Immigration Bureau in Bangkok has on 22nd July 2014 posted a new announcement regarding its rules for overstay. Today’s announcement is further confirmation on the proposed crackdown on foreigners overstaying in Thailand, which was reported earlier this month.The announcement which is written in both English and Thai details the penalties for overstay…
New ‘green’ rules to limit Samui projects The Office of Natural Resources and Environmental Policy and Planning (Onep) has declared Koh Samui, Koh Tao and Koh Phangan districts in Surat Thani province part of an environmentally protected zone… Source : Bangkok Post (See more…)
Officials yesterday morning (June 23) visited Bangtao and Laypang beaches, issuing 78 businesses with demolition orders on the grounds that their structures are on public land. But before they started posting the orders in each of the properties, Ma’an Samran, chief executive of Cherng Talay OrBorTor and his deputy, Siri Yokthong, went with Pipop Sutkhao,…
On 8 May 2014, the Immigration Office announced that immigration border checkpoints would no longer allow “out-in” visa runs for visitors to extend their stay “other than for the purpose of tourism”, in reality, an enforcement of existing laws. The clampdown does not affect holders of non-immigrant visas (such as business visas) or holders of…
Mr. Udom Wongwiwatchai, Secretary General of the Board of Investment (BOI), revealed that the agency is currently talking with the Ministry of Tourism and Sports on ways to improve investment strategy to benefit the tourism industry. He said an emphasis will be given to tourism clusters to make sure the overall development will cater to…
A common question that we are frequently asked by clients who work in Thailand as foreigners and under a work permit, is whether their visa will expire if an employment in Thailand ends. In that respect it should be noted that although work permits are usually granted for a one-year term, their validity will be…
The number of international tourist arrivals to Thailand in 2013 was a record 26,556,397 increasing by 19.8% Y-o-Y (year on year). The number of international passengers disembarking at all AOT-managed airports increased by 14.7% Y-o-Y to 23,336,162 in Bangkok and by 25.8% Y-o-Y in Phuket. The largest feeder market was Chinese with a 17.5% share of…
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