What is CBAM? The Cross-Border Adjustment Mechanism (CBAM) is a tax-collection approach designed to account for the carbon footprint of goods from sourcing raw materials through to final delivery. Following the signing of the 2015 Paris Agreement and the ambitious goals of the European Green Deal in 2019, CBAM aims to balance carbon pricing between […]
In light of the recent floods affecting 42 provinces, the Thai government has taken decisive action to provide temporary relief to both employers and insured individuals under the country’s social security system. This policy adjustment, approved by the Cabinet in October 2024, comprises two key measures: the extension of deadlines for social security contributions and […]
As part of a global effort to curb tax avoidance and align with fair taxation standards, Thailand is preparing to implement the Global Minimum Tax (“GMT”) by 2025, complying with the Organization for Economic Co-operation and Development’s (“OECD”) framework. This initiative, spearheaded by the OECD and the G20 countries, introduces a minimum effective tax rate […]
In recent years, Thailand has positioned itself as a forward-thinking hub for financial innovation, particularly in the digital asset space. The Securities and Exchange Commission (SEC) of Thailand, in collaboration with the Bank of Thailand (BOT), has implemented key regulatory updates to better manage the growing use of digital assets and ensure their compliance with […]
In an effort to stimulate investment and economic development in Southern Economic Zones (SEZs) of Thailand, the Royal Decree No. 783 (issued on June 5, 2024) and the accompanying Notification from the Director-General of the Thai Revenue Department (No. 446, dated July 24, 2024) introduce significant tax rate reductions for both corporate and personal income […]
As Thailand looks toward the end of 2024, the government has announced its plans to implement a series of economic stimulus measures. These initiatives, outlined by Paopoom Rojanasakul, the Deputy Minister of Finance, are poised to inject new energy into the economy, which has been recovering at a measured pace post-pandemic. The proposed stimulus package, […]