In May 2022, the Royal Decree No. 743 B.E. 2565 (2022) issued under the Revenue Code declared that foreigners working in Thailand as highly skilled professionals on long-stay, non-immigrant visas will be taxed at a rate unique to their immigration status. Tax on a foreigner’s assessable income shall be withheld at the source at a […]
Penal Code Amendment Act (No. 29), B.E. 2565 (2022) In May 2022, the Parliament amended Section 73 and 74 of the penal code. These changes concern children under the age of 12 and 15 respectively. These changes were made to bring the penal code into alignment with childhood development and the social concerns of charging […]
In the wake of the COVID-19 pandemic, Thailand is rebuilding its tourism sector in creative ways. A new tax initiative and visa, known as a Long-Term Resident (LTR) visa was introduced in September 2021. This visa is meant to attract foreigners with “high capability or potential”. The program authorizes foreigners to remain in the country […]
The Personal Data Protection Act (PDPA) became enforceable on the 1st of June 2022. The Act was adopted as law on the 28th of May 2019, but due to the COVID-19 pandemic and unresolved legislative processes, enforcement was delayed. Controversies surrounding the implementation of such regulation have not dissipated and the next few months will […]
The Ministerial Information Bulletin No. 10819 published on the 12th of May 2022 notifies the following amendments to the law: Penal Code Amendment Act (No. 29), B.E. 2565 (2022) Enforcement Date: 7th of May 2022 Amendment A: Section 73 of the penal code shall be repealed and replaced with the following: “Section 73. A child […]
To promote the trade of cryptocurrencies and digital tokens on registered exchange platforms, Royal Decree No. 744 (“Royal Decree”) was enacted, authorizing Value Added Tax (“VAT”) exemption. Investors who trade cryptocurrencies or digital tokens on exchange platforms registered in Thailand and under the Securities and Exchange Commission (“SEC”) will be entitled to VAT exemption. The […]