Thailand income tax regime is governed by the Revenue Code B.E. 2481 (1938) and administered by the Revenue Department of the Ministry of Finance. The Thai tax system follows a self-assessment model, under which individuals and companies are responsible for calculating and reporting their taxable income annually. The core principle of the personal income tax […]
Litigation in Thailand follows a civil law system, meaning legal disputes are resolved through written laws and judicial decisions, rather than precedents. The Thai legal system is structured, procedural, and hierarchical, with different courts handling various types of cases. This article provides an in-depth exploration of litigation in Thailand, including key legal procedures, court structures, […]
Thailand’s Foreign Business Act (FBA) of 1999 is a cornerstone of the country’s regulatory framework governing foreign investment and business operations. Designed to protect Thai industries and promote local participation in the economy, the FBA imposes restrictions on foreign ownership and control in certain sectors. For foreign investors and businesses seeking to establish a presence […]
Escrow accounts in Thailand is a financial arrangement in which a neutral third party holds funds or assets on behalf of two transacting parties until specified contractual conditions are met. In Thailand, escrow accounts are regulated under the Escrow Act B.E. 2551 (2008) and are commonly used in real estate transactions, business mergers, and international […]
Property Taxes in Thailand. Thailand imposes various property taxes on owners, buyers, and sellers, ensuring a steady source of revenue for local and national development. Understanding these taxes is essential for residents, foreign investors, and businesses navigating the Thai real estate market. 1. Types of Property Taxes 1.1 Land and Building Tax Implemented in 2020, […]
Property Lease in Thailand is a practical option for individuals and businesses, particularly foreigners, given the restrictions on land ownership. Governed by the Civil and Commercial Code, property leases allow lessees to use land or buildings for a specified term while ownership remains with the lessor. This guide explores the legal framework, process, costs, and […]