Can a foreigner rent out their condominium unit on a daily basis? And can they do so without a work permit? Here is what the current laws say. Condominium Act The Condominium Act Thailand does not contain a direct prohibition on short-term rentals. However, it does restrict commercial activities to specifically designated areas and requires …
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
The Department of Employment Thailand announced that under a Memorandum of Understanding (MoU) signed with four countries—Myanmar, Laos, Cambodia, and Vietnam—Thai companies are allowed to legally employ foreign workers from these nations. Workers from Myanmar, Laos, and Cambodia are permitted to work in labor-intensive roles across 24 business sectors, including domestic work. Workers from Vietnam …
Employment of Workers from Myanmar, Laos, Cambodia, and Vietnam Read More »
On July 4, 2016, the long-awaited Secured Transactions Act Thailand came into force, providing small and medium-sized enterprises (SMEs) and startups with easier access to financing. The law allows businesses to use inventory, raw materials, and intellectual property as collateral. According to Apiradi Tantraporn, the new legislation helps remove financial barriers for entrepreneurs seeking loans …
Starting next year, a new property tax law will come into effect in Thailand. Under this legislation, private houses and agricultural land with an assessed value of 50 million Baht or more will be subject to taxation. Tax Rates Owners of private homes and farms valued below 50 million Baht will be exempt from this …
The Board of Investment Thailand has approved a personal income tax exemption for researchers and specialists working in 10 targeted industries prioritized by the Thai government. These industries include: Another important development: work permits for foreign specialists employed by companies operating in these sectors will be issued for up to 5 years. In addition, the …
Personal income tax in Thailand is calculated using a progressive rate system and depends on the total annual income — the higher the income, the higher the applicable tax rate. On Tuesday, April 19, the government approved a number of amendments to the Revenue Code. Starting from 2017, individuals earning less than 26,000 THB per …
Government Approves New Personal Income Tax Structure Read More »
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 »
