The Ministry of Finance has intensified its efforts to combat tax evasion by announcing the development of a unified database for three government agencies responsible for tax control and collection. Finance Minister Mr. Apisak Tantivorawong has instructed representatives of the Revenue Department, Customs Department, and Excise Department regarding the implementation of the new system. The …
There is nothing easier than registering a company in Thailand. A company without employees, work permits, VAT registration, or other complexities can be set up within a single day. It can then be used as intended — to hold real estate, obtain business licenses, or even start operations (provided no staff or office is required). …
What Can You Do with a Company That Is No Longer Needed? Read More »
On September 22, 2015, the Cabinet of Thailand approved a policy aimed at developing industrial clusters. The idea is to grant additional privileges to certain types of businesses, provided they are located in designated provinces — typically those with lower economic development. The Ministry of Industry will oversee implementation, while incentives will be determined by …
BOI: Cluster Development and SEZs. New Incentives Read More »
Every autumn, it is customary to provide final recommendations before the start of the high season: for business owners — business plans, trademarks, licenses, taxes; for investors — primary and secondary real estate purchases. However, current realities require shifting focus to one of the most pressing topics of this year — and likely the next: …
Personal income tax in Thailand is calculated on a progressive scale and depends on the total annual income — the higher the income, the higher the tax rate. On Tuesday, April 19, the government approved a number of amendments to the Tax Code. Starting from 2017, individuals earning less than 26,000 baht per month will …
Tax on Salary: New Structure Approved by the Government Read More »
In July 2015, the consulting agency InvestEast became a member of the Thai-Russian Chamber of Commerce (Thai-Russian Chamber of Commerce — TRCC). The Thai-Russian Chamber of Commerce was established in November 2005 and is the successor of the previously known Thai-Russian Trade Association. The main objectives of the TRCC are to support companies doing business …
InvestEast Becomes a Member of the Thai-Russian Chamber of Commerce Read More »
Only about 10% of buyers carefully review a condominium sale and purchase agreement before signing it with a developer. As a result, many enter into unfavorable terms, lack a clear understanding of their rights, and miss the moment when those rights are violated. This article is intended to help both future buyers and those who …
Sale and Purchase Agreement in a New Development: Buyer’s Rights and Obligations Read More »
In May 2015, the consulting agency InvestEast became a member of the Singapore-Thai Chamber of Commerce. The Singapore-Thai Chamber of Commerce was established in 1993. Its founders include Winston Doong, Edwin Choi, Ng Jiak Hong, Terence Seah, Edward Ermanis, and Julie Siow. The main objective of the Chamber is to promote favorable conditions for the …
InvestEast Becomes a Member of the Singapore-Thai Chamber of Commerce Read More »
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 »
