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Meeting Between Invest East and the President of Thailand Elite

On February 3, 2017, another meeting took place between Thailand Elite and the consulting agency Invest East. During the meeting, the President of Thailand Elite, Pruet Boobphakam, and Development Director Alexandra Agapitova discussed the key issues faced by Thailand Elite cardholders, as well as the club’s development priorities and ways to improve the level of …

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VAT Rate Maintained

The value-added tax (VAT) rate in Thailand has been maintained at 7% for another year. The previous regulation was set to expire on September 30, 2016. VAT was first introduced in Thailand in 1992 at a rate of 10%, but was immediately reduced to 7% at the request of the business community and has remained …

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New BOI Investment Targets

The Board of Investment Thailand has set new targets to attract investments totaling 550 billion Baht this year, compared to 450 billion Baht in the previous year. According to Deputy Prime Minister Somkid Jatusripitak, the BOI needs to improve and accelerate its internal processes—both domestically and in its overseas offices—to attract new investments, particularly from …

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Personal Income Tax in Thailand (2017 Update)

Taxes are always a relevant and unavoidable topic. Fortunately, in Thailand, recent developments—especially regarding personal income tax—have generally been positive. At the time, the tax rates established in 2013 were still in force. The main goal—to reduce undeclared “cash-in-hand” salaries—has largely been achieved through a progressive tax system, along with deductions and allowances that reduce …

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Tax Incentives for Small and Medium Enterprises (SMEs)

On August 9, 2016, the Thai Cabinet approved tax incentives for small and medium enterprises registered as legal entities. According to Natthaporn Jatusripitak, the new incentives include: These incentives were set to remain in effect until December 31, 2017. To qualify, companies must meet the following criteria: Source: bangkokpost.com

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