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 […]
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 […]
Thai Business Partnerships. Thailand presents a compelling landscape for foreign businesses seeking partnerships. However, understanding the nuances of Thai business culture and legal framework is paramount to a successful venture. Understanding Thai Business Culture Thai business culture is deeply rooted in collectivism, harmony, and long-term relationships. Key aspects to consider include: Relationship Building: Building trust […]
The U.S.-Thailand Treaty of Amity and Economic Relations, established in 1966, is a significant agreement fostering economic collaboration and investment between the United States and Thailand. This treaty offers unique advantages for American businesses operating in Thailand, creating a conducive environment for investment and economic growth. This article delves into the key aspects, benefits, and […]
Mergers & Acquisitions in Thailand. Thailand's economy has emerged as a significant player in Southeast Asia, attracting foreign investment across various sectors. Mergers and Acquisitions (M&A) have become a critical tool for companies seeking growth opportunities within the Thai market. However, navigating the M&A landscape in Thailand comes with its own set of complexities and […]
The Thailand Board of Investment (BOI) is important for Thailand's economy, attracting foreign investment and helping economic growth. Established to attract and support investments, the BOI significantly helps Thailand's industries and technology. This article explores where the BOI came from, what it does, its benefits, and how to apply, highlighting its big role in helping […]
Having a Representative Office in Thailand is one of the easiest ways to establish a local presence for foreign companies in the country. The main advantage of having a Representative Office is that you will be able to establish a presence in the country without the need for a Foreign Business License. However, there are […]
If you're thinking of starting a business in Thailand, you should hire an accountant to help you navigate the legal system. Companies in Thailand are required by law to pay taxes, and non-payment can result in heavy fines, work permits being revoked, asset seizures, and even shutting down the company. The corporate tax rate in […]