Thailand’s Board of Investment (“BOI”) has resolved to enhance merit-based incentives to boost industrial competitiveness. In March 2020, the BOI announced investment promotion measures for small and medium enterprises (SMEs) which included merit-based incentives. Applications can be submitted until the last business day of 2021. Currently, there are seven investment areas that benefit from merit-based […]
On 20 September 2021 the Revenue Department published in the Royal Gazette the new regulations regarding appeals and consideration of appeals under the Revenue Code. the regulation operates retrospectively from 28 June 2021 and replaces all previous regulations on the matter. Key Takeaways from the Regulations There are some key updates that should be noted […]
The digital realm is becoming an increasingly prevalent space to conduct business by selling products and services on the internet, which is now commonly referred to as “e-commerce.” E-commerce covers a wide range of transactions including B2B (Business to Business), B2C (Business to Consumer) and B2G (Business to Government). Amidst the pandemic and with a […]
On 11 October, the Thailand Board of Investment (BOI) approved incentives to encourage companies to accelerate their operations to keep up with the Industry 4.0 transformation. The tax incentive package offers improved incentives to Industry 4.0 projects which require higher investments. This includes a 3-year corporate income tax (CIT) exemption which covers 100% of the […]
The Industrial Estate Authority of Thailand (IEAT) operates under the Ministry of Industry and was created by the Industrial Estate Authority of Thailand Act (‘the IEAT Act’) to expand the industry sector. The IEAT’s mission is to develop and enhance the management of industrial estates and industrial ports so that they operate as ideal strategic […]
The Revenue Department recently issued the long-awaited Notification of the Director-General on Corporate Income Tax No. 407 dated 30 September 2021. The Notification outlines the transfer pricing requirements for both the information/documents for a local file and the criteria for the benchmarking study exemption. These requirements are applicable to all accounting periods starting on or […]