The Ministry of Finance is likely to maintain the value-added tax (VAT) rate at 7% for the next one to two years. This was announced by Krisada Chinavicharana, Director-General of the Fiscal Policy Office. Under the Thai Revenue Code, the standard VAT rate is set at 10%. However, a temporary reduced rate of 7% has …
A crisis is when you meet an acquaintance, casually ask “How are you?”, and realize you’re about to hear a detailed report on how everything is going wrong — with the Russian ruble exchange rate to blame. Russian businesses in Thailand are currently undergoing a serious stress test. This year will be telling: for some, …
Crisis of Russian Business or New Opportunities for the Old Guard Read More »
The year 2014 has come to an end, full of events that did not always have a positive impact on business in Thailand in general and Russian businesses in particular. Nevertheless, the number of projects involving Russian entrepreneurs and investments continues to grow. Projects are becoming more complex and interesting, and client inquiries more diverse. …
Doing Business in Thailand: Frequently Asked Questions Read More »
On November 27, 2014, a seminar titled “Business and Investment in Thailand. Frequently Asked Questions” was held in Pattaya at the MODUS Business Center, organized by InvestEast Consulting Agency. The seminar was conducted in an interactive Q&A format and covered a wide range of topics, including: business setup in Thailand, employment relations, opening bank accounts, …
The Thai government, through the Board of Investment (BOI) and the Industrial Estate Authority of Thailand (IEAT), offers a wide range of incentives for foreign investors. The scope and conditions of these incentives depend on two key factors: the type of business activity and the location of the company. Business Activities Supported by the BOI …
Personal income tax is a direct tax levied on the taxable income of both residents and non-residents earned in Thailand. Tax returns are filed annually, and the tax is paid based on the declared income. For tax purposes, individuals are classified as either residents or non-residents. A resident is defined as any individual who stays …
An investment portfolio is a set of assets in Thailand, which may include real estate, businesses, stocks, and property rights—depending on the size of the investment and the financial and business goals set. First of all, it is necessary to determine the investor’s operating conditions. A private investor may limit themselves to several rental properties …
Everyone is well aware of the “draconian” laws concerning foreign businesses in Thailand. A company must have the status of a Thai legal entity, which means that foreigners must own less than 50% of the shares. To officially employ one foreign worker, a company must have registered capital of at least 2 million baht and …
The Thailand Board of Investment (BOI) has approved a new investment strategy for 2015–2021 aimed at promoting high technology, eco-projects, as well as research and development. The strategy will focus on seven sectors: agro-industry and agricultural products; minerals, ceramics, and base metals; light industry; metal products, machinery, and transport equipment; electrical engineering and electronics; chemicals, …
New Investment Strategy of the Board of Investment for 2015–2021 Read More »
The Ministry of Industry Thailand has approved 158 out of 241 applications submitted last month for factory operation licenses (officially known as Ror. Ngor. 4). According to the Permanent Secretary of Industry, Witun Simachokdee, since July 1, 2014, the Department of Industrial Works under the Ministry of Industry has reduced the processing time for issuing …
Processing Time for Factory Operation Licenses Reduced Read More »
