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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Thailand unveils tax breaks to stimulate domestic tourism during off-season
In a bid to boost tourism during the traditionally slower months, Thailand's government has implemented tax incentives to encourage domestic travel. The measures were approved by the cabinet on Tuesday, 4 June, 2024. Companies organising
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Thailand announces tax and other incentives for PCB manufacturers
Thailand’s Board of Investment (BOI) declared a series of incentives for businesses engaged in the manufacture of printed circuit boards (PCBs). These incentives include: Up to eight years of exemption from corporate income tax.
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Bangladesh and Thailand set sight on FTA in 2024
Bangladesh and Thailand have set their sights on a Free Trade Agreement (FTA) by the end of 2024, according to a joint announcement following a meeting in Bangkok on 26 April, 2024. Thai Prime Minister Srettha Thavisin, at the joint press
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Thailand launches public consultation on pillar 2 global minimum tax
On March 1, 2024, the Thai Revenue Department initiated a public consultation on draft legislation for enforcing the Pillar 2 global minimum tax rules in Thailand. The legislation includes the Pillar 2 income inclusion rule (IRR) and undertaxed
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Thailand: TRD updates advance pricing arrangements guidance
In October 2023, Thai Revenue Department (TRD) published updated guidance on advance pricing arrangements (APAs). The guidance on APAs has instructions and requirements for bilateral APAs. The update in the guidance mostly related to the
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OECD: Peer Review Report on Transparency and EOI in Thailand
On 8 November 2023 the Global Forum published a peer review report on Thailand's implementation of the standard on transparency and exchange of information. Thailand joined the Global Forum in 2017 and made efforts to establish the necessary legal
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Thailand approves reduced tax rate regime to counter global minimum tax rule effects
On 7 June 2023, the Board of Investment (BOI) of Thailand approved rules that introduces a reduced tax rate. The objective behind this regime is to address the repercussions of the implementation of the global minimum tax rule. Under this scheme,
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Thailand approves MCAA for automatic exchange of financial account information
On 30 March 2023, Thailand issued a royal decree to implement the Multilateral Competent Authority Agreement (MCAA) for the Automatic Exchange of Financial Account Information. The MCAA was signed by Thailand in July 2022 and allows for information
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Thailand approves to incorporate global minimum tax rule
On 7 March 2023, the Thai Cabinet approved measures to incorporate global minimum tax regulations as part of the base erosion and profit shifting (BEPS) 2.0 Pillar Two rules issued by the OECD. The Investment Board of Thailand has recommended these
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OECD: Peer Review Report on Dispute Resolution Mechanisms in Thailand
The second stage peer review report on the implementation of the Action 14 minimum standard (making dispute resolution mechanisms more effective) by Thailand was published by the OECD’s Inclusive Framework on 13 September 2022. The report notes
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Thailand: BEPS MLI in Force
The Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI) entered into force for Thailand on 1 July 2022. With regard to the double taxation agreements between Thailand and other
See MoreThailand deposits BEPS MLI ratification instrument
On 31 March 2022, Thailand has deposited its instrument of ratification for the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (Convention or MLI), which now covers over 1800 bilateral
See MoreThailand extends transfer pricing disclosure deadline
On 25 March 2022, in response to the COVID-19 pandemic, the Thai Minister of Finance has announced an extension the deadline for filing the transfer pricing disclosure form to 30 May 2022 for the fiscal years starting on or after 1 January 2020 to
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