DRKILAW TALKS 2017



Government recently issued its National e-Payment Master Plan to promote FINTECH (Financial + Technology). The electronic payment system is intended to ease Thailand’s entry into the global, digital economy. The National e-Payment Master Plan also dovetails from government’s touted Thailand 4.0 Policy. Read More

Excise tax is a form of consumption tax, imposed on certain ranges of services and goods (either on manufactured locally or imported) that are somehow considered as having negative impact on society. The tax payer is liable for excise tax on locally manufactured goods upon their removal from the factory, or, in the case of imported goods, at the time of importation. Read More

Amendment No. 6 B.E. 2560 (2017) to the Labor Protection Act B.E. 2540 (1998) (“LPA”) came into effect on September 1 of this year. The law sets new standards for minimum wage rates for specific types of employees, eases burdens on employers when announcing work regulations, and sets a new statutory retirement age. Read More

Following the public hearing in mid-2017 and final approval by the Thai Cabinet on January 2018, Thailand’s draft transfer pricing law sailed through the final reading session of the National Legislation Assembly on 27 September 2018. The law intends to create transparency, reduce profit shifting between related entities, and prevent double taxation issues in transfer pricing between related companies or enterprises. Read More

The online public hearing session organized by the Revenue Department for the draft Transfer Pricing Act finished on 7 July 2017 and this new regulations are awaiting for approval by the National Assembly. This article discusses the three sections to be added to the Revenue Code and its implication on the transfer pricing practice in Thailand. Read More

This year there is a noticeable increase in the number of Japanese subsidiaries in Thailand being requested by their parent multinational companies to prepare local transfer pricing documentation reports. The information is needed to support preparation of new transfer pricing documentation reports required by Japanese tax authorities. Read More

On 4 April 2017, the Head of the National Council for Peace and Order (“NCPO”), by virtue of Section 44, the Interim Constitutional of Thailand B.E. 2557, announced in the Government Gazette Order of NCPO No. 21/2560 Re: Amendment to Laws for the Ease of Doing Business. The new law had immediate effect on its publication date. 
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Thailand will have a new Customs Act to be announced in 2017. This new legislation would be a good start for Thailand’s Customs regulatory upgrade as this new law replaces among the oldest of the 91 year-old Kingdom’s law and other 22 Customs Acts. This excludes the current Customs Tariff Decree which is still applicable. Read More

Good news for our readers-- Thailand’s Customs Department has extended the period for the Voluntary Audit Program until the end of 2017 (31 December). The program enables private sector businesses to undergo customs reviews and potentially be exonerated for their unintentional customs offences, as well as the resulting penalties and surcharges. Read More

The Revenue Code Amendment Act (No. 44) B.E. 2560 (2017) was published in the Royal Thai Government Gazette on 27 January of this year. The new law provides increases in deductible expenses and allowances, new thresholds for tax filing obligations, and an increase to the highest tax bracket at the progressive tax rate. The changes apply to assessable income for the 2017 tax year onwards. Read More


On 4 January 2017, Cabinet approved, in principle, the Labor Protection Act (No. …) B.E. …, as was proposed by the Ministry of Labor. The current draft law, stipulates that retirement will constitute termination, and as such, retiring employees will be entitled to a severance pay as provided under the Labor Protection Act B.E. 2541 (1998) (“LPA”). It is anticipated that the new law will be enacted in May of this year. Read More
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