On 17th June 2021, the State Administration Council (“SAC”) enacted the SAC Law No. 20/2021 to amend the Union Tax Law 2020 (“UTL”) in relation to the personal income tax (“PIT”) rates.  From 1st July 2021 to 30th September 2021, the PIT rates payable on the income from any undisclosed source are temporarily reduced to... Read More

On 2nd June 2021, the Internal Revenue Department (“IRD”) of the Ministry of Planning and Finance, Myanmar, issued its announcement to allow tax payments through a variety of electronic payment systems instead of paying by cash or cheque effective from 1st July 2021 as follows:- 1.   The taxpayers can pay taxes through different electronic payment... Read More

Due to the on-going COVID-19 pandemic, on 23rd June 2021, the Thailand Government enacted a Royal Decree to reduce the rates of the contributions which the self-insured persons must pay to the Social Security Fund under the Social Security Act B.E. 2533 each month for a period of 6 months from 1st August 2021 to... Read More

Effective from 1st July 2021 each foreign legal entity (“FLE”) established outside Thailand but operates businesses which are not prohibited or restricted under the Foreign Business Act (“FBA”) in Thailand, such as branches representative offices of foreign companies, must obtain a 13-digit ID number (“FLE ID No.”) from the Department of Business Development (“DBD”) and... Read More

The laws of Thailand on the Board of Investment Promotion (“BOI”) and the Eastern Economic Corridor (“EEC”) encourage local and foreign investors to invest in Thailand.  They provide tax and non-tax incentives in promoted projects. The article gives an overview of the major incentives and the application procedures under the BOI and EEC laws. Board... Read More