Value Added Tax (VAT) Value Added Tax (VAT) was introduced in Thailand in 1992 and replaced the Business Tax (BT). VAT is an indirect tax applied to the value added at each stage of production and distribution. Taxpayers VAT taxpayers include: A service is considered provided in Thailand if: Imports are also subject to VAT …
Convening a Shareholders’ Meeting Notice of a shareholders’ meeting must be published in a local newspaper and sent to each shareholder by registered mail to their registered address at least 7 days before the meeting date. If special matters are to be considered at the meeting, the notice period is extended to 14 days. Shareholders’ …
Company Management: Shareholders’ Meeting and the Role of the Director Read More »
Corporate Income Tax is a direct tax levied on legal entities or partnerships that conduct business in Thailand or earn income from Thailand. The tax period is 1 year. Taxpayers The tax is paid by all companies registered in Thailand, both Thai and foreign. Foreign companies are those incorporated under foreign law. A company becomes …
The maximum working day must not exceed 8 hours, and the maximum working week must not exceed 48 hours. Men and women must receive equal pay and overtime compensation for work of the same nature and duration. Overtime rates range from 1.5 to 3 times the regular salary for the same period. However, overtime work …
Termination of employment may occur for various reasons: If the termination is initiated by the employer and the employee has not violated the terms of the employment contract, the employer is required to pay severance. The amount of severance depends on the length of time the employee has worked for the company. Length of employment …
Termination of Employment: What You Need to Know Read More »
Foreign nationals can open bank accounts in both Thai baht and foreign currencies. Personal presence of the applicant is mandatory when opening a bank account. Who can open a bank account? Foreigners residing in Thailand under long-term visas(work visa, Thailand Elite, and others) must provide documents confirming: Banks may also request additional documents, such as: …
When registering a real estate transaction with the Land Department, the following taxes and fees are paid separately and at established rates: Taxes and Fees on Real Estate Transactions 1. Transfer Fee 2. Specific Business Tax 3. Stamp Duty 4. Withholding Tax If the seller is a company: If the seller is an individual: Property …
Real estate in Thailand is generally divided into three categories: condominiums, buildings, and land plots. Each has its own ownership specifics, especially for foreign nationals. Condominium A condominium is a residential complex consisting of private property (an apartment unit) and common property (green areas, swimming pools, and other shared facilities). Each unit has its own …
In Thailand, inheritance can take place either by law or on the basis of a will. A will concerning assets in Thailand must be made within the Kingdom. If a will is made abroad, it will only be valid in Thailand after legalization. A will may be made in one of the forms предусмотренных by …
Shareholder rights in a Thai company directly depend on the number of shares they hold. The discussion below refers to ordinary shares, where 1 share = 1 vote. Depending on the ownership percentage, shareholders can be условно divided into several categories. Less than 20% of shares 20–25% of shares More than 25%, up to 50% …
