Due to the increasing popularity of condominiums and apartments in the city, which comes with several issues related to rental and utility bills; as a result, the Contract Committee of the Consumer Protection Board has issued a new notification, the Stipulation of Residential Property Leasing as a Contract-Controlled Business B.E. 2562 (2019) (the “Notification”), published…
We are pleased to share that we are now listed on Lexology, one of the leading sites for international legal updates, analysis, and insights. At FRANK Legal & Tax, we strive to ensure that you can connect with us through various quality legal channels. Explore our hub here: https://www.lexology.com/contributors/frank-legal-and-tax If you have any questions about…
A codicil, or addendum, is a legal document that changes certain provisions of a will but leaves all other provisions unchanged. You can change, update or even revoke your will completely at any time as long as you are mentally competent. In this article we will look at some scenarios based on our experience of…
In this article we discuss the different types of verification marks of the Department of Business Development (“DBD”). It will look at the requirements for each verification mark and the purpose of the verification system based on our experience. In line with current economic trends, e-commerce has become an important part of our lives, yet…
Thai law provides a means of real security and an alternative to the mortgage, the so-called Sale with Right of Redemption (Thai: “Khai Fah”). It is governed by Sections 491 ff. of the Thai Civil and Commercial Code (“CCC”), and it involves a conditional transfer of ownership that can be redeemed under certain circumstances. Recently,…
In this article, we provide a high-level overview of the taxes that could apply to foreign investors in Thailand based on our research. The Thailand Revenue Code is the main body of law that codifies procedures regarding tax assessment and the collection of the various taxes in Thailand. Taxes are mostly collected under a self-assessment…
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…
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…
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…
Thailand is a country with many business opportunities for foreign investors; this includes the incorporation of partnerships and companies. There are two types of companies in Thailand, private limited companies and public limited companies. The main differences between the two is the governing law and the sale of shares. Private limited companies are governed by…
The Thai Labor Protection Act In Thailand, all employers, and employees, except for the government administration and state enterprises, are governed by the Thai Labor Protection Act of 1998 (“LPA”) (amended 2019). This act regulates the basic rights of both employees and employers by defining the working hours, welfare funding, holidays, sick leave, educational leave,…
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