Thailand approves tax treaties with Netherlands, Norway
The Thai Cabinet approved the signing of tax treaties between the Netherlands and Norway on 24 December 2024. The new treaties will supersede the 1975 tax treaty with the Netherlands and the 2003 tax treaty with Norway. The purpose behind the new
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Thailand introduces Pillar Two top-up tax for MNEs
Thailand's Revenue Department has announced the publication of the Emergency Decree on Top-up Tax B.E. 2567 (2024) on 27 December 2024,introducing the implementation of a domestic minimum top-up tax for MNE groups with a consolidated revenue of at
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Thailand: Cabinet approves draft law for Pillar Two Global Minimum Tax
The Thai Cabinet approved a draft law to introduce the Pillar Two global minimum tax on 11 December 2024 which will implement a 15% global minimum tax on qualifying multinational enterprise (MNE) groups starting from January 2025. Finance
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EFTA,Thailand conclude negotiations for FTA
Representatives from the EFTA States (Iceland, Liechtenstein, Norway and Switzerland) Thailand met online to conclude negotiations towards a free trade agreement (FTA) on 29 November 2024, according to a release. Karin Büchel, Head of the Free
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OECD launches accession process for Thailand
The Organisation for Economic Co-operation and Development (OECD) Secretary-General Mathias Cormann has publicly launched the process of Thailand's accession to the OECD in Bangkok on 30 October 2024. The OECD Council adopted the Roadmap for the
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Thailand to join Crypto-Asset Reporting Framework MCAA
The Cabinet of Thailand approved the signing of a commitment letter to participate in the Multilateral Competent Authority Agreement concerning the Automatic Exchange of Information in accordance with the Crypto-Asset Reporting Framework (CARF MCAA)
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UK, Thailand sign ETP to boost economic partnership
Thailand and the United Kingdom formalised an Enhanced Trade Partnership (ETP) in Bangkok on 18 September 2024. Trade Minister Douglas Alexander will sign the pact alongside Thai Commerce Minister Pichai Naripthaphan in Bangkok this morning as
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Thailand extends VAT exemption for cryptocurrency, digital tokens
The government of Thailand exempted Value Added Tax (VAT) on cryptocurrency transfers and the use of digital tokens in Royal Decree No. 788, effective starting 25 September 2024. The latest decree entends this exemption and is applicable to
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Thailand to implement carbon tax by 2025
Thailand’s Deputy Finance Minister Paopoom Rojanasakul announced that the country will implement a carbon tax by 2025, as part of its efforts to address climate change and promote sustainable practices, on 26 September 2024. The carbon tax will
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Thailand extends reduced VAT rate until 2025
Thailand’s Cabinet approved a resolution extending the reduced 7% VAT rate on imports, sale of goods, and provisions of services until 30 September 2025. The extension pushes the previous end date from 30 September 2024. The announcement was
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US, Thailand FATCA enters into force
The US Department of the Treasury announced on 6 September 2024 that the Intergovernmental Agreement (IGA) between the US and Thailand for implementing FATCA came into effect on 28 April 2024. However, Thailand is considered to have had the IGA in
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Thailand: Cabinet approves STTR MLI letter of intent
Thailand’s Council of Ministers approved a letter of intent to sign the Multilateral Convention for the Pillar Two Subject-to-Tax Rule (STTR MLI), according to a government release on 27 August 2024. Thailand's finance minister is expected to
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Thailand to negotiate tax treaty with Kazakhstan
Officials from Thailand and Kazakhstan met to discuss bilateral cooperation, including the interest of Thailand's Revenue Department in reviving discussions for the negotiation of an income tax treaty, on 15 August 2024. According to the
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Thailand announces new incentives for car parts manufacturing JVs
The Thailand Board of Investment (BOI) approved a series of new incentives to promote investment in joint ventures (JV) between Thai and foreign companies regarding the manufacturing of automotive parts and components for vehicles using all types of
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Thailand opens accession discussions with OECD
The OECD announced that it started accession discussions with Thailand on 18 June, 2024, making it the second country from Southeast Asia to become an OECD accession candidate this year. The decision builds on many years of increasing cooperation
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Thailand, US sign competent authority arrangement to FATCA agreement
The US Internal Revenue Service (IRS) released the official text of the competent authority arrangement (CAA) that the US government signed with Thailand under the Thailand—United States FATCA Model 1A Agreement (2016) (IGA) to implement the
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Thailand to boost stock market with tax breaks and reduced lock-ups
Thailand is planning to increase the tax allowance and reduce lock-up periods for environmental, social, and governance (ESG)--focused fund holders in an effort to strengthen the local equity market. Individual investments up to THB 300,000 (USD
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Thailand: PM presents $102 bln budget for FY2025
On 19 June, 2024, Thailand's Prime Minister Srettha Thavisin proposed a budget of THB 3.753 trillion (USD 102 billion) for the 2025 fiscal year in the parliament. Srettha informed the House of Representatives that the budget is aimed at helping
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