The NLA (National Legislative Assembly) approved the Property Tax Act B.E. 2561 (“Act”) on 16th November 2018.  The Act will repeal and replace the Household and Land Tax Act B.E. 2475 (A.D. 1932) and other local property tax laws.  The Act will soon be published in the Government Gazette and become effective on and from... Read More

On 10th January 2017, the Internal Revenue Department (“IRD”) of the Ministry of Planning and Finance (“MPF”) announced the Notification No. 2/2017 to reduce the withholding tax rates for payments in Myanmar and abroad and replace the Notification No. 41/2010 and the Notification No. 167/2011 of the IRD.  The new WHT rates will become effective... Read More

The Prime Minister, Prayut Chan-o-cha, used Section 44 of the interim constitution of Thailand for extending the 7% value-added tax (“VAT”) for another year.  The announcement was published on the Royal Gazette on 1st November 2016 and took effect retroactively from 1st October 2016. Under Section 80 of the Revenue Code, the VAT rate is... Read More

The Royal Decree Issued under the Revenue Code, Re: Tax Exemption (No. 621) B.E. 2559 (A.D.2016) (the “Royal Decree”) was published in the Government Gazette on 30th August 2016 and came into effect on 31st August 2016 to grant corporate income tax exemption to social enterprises. Social Enterprises  Under the Royal Decree, a social enterprise (the “SE”)... Read More