Tax in Thailand

Baker McKenzie LLP

Baker McKenzie LLP provides a comprehensive tax service. Kitipong Urapeepatanapong advises on tax planning and the tax aspects of M&A transactions while Panya Sittisakonsin has broad experience in this field with expertise in tax litigation, planning and tax structures. Pornapa Luengwattanakit acts for clients in the defence of tax and customs assessments and investigations.  Aek Tantisattamo is present on tax planning for outbound/inbound investments and Nopporn Charoenkitraj works on the tax aspects of real estate transactions. The head of transfer pricing Geoffrey K. Soh is also recommended for his work.

Work highlights

  • Advised DBS Bank on Thai tax considerations on various wealth management scenarios, creating a custom tool for their relationship managers to use which covered: Thai tax overview; tax planning options and structures; asset structures; offshore investment and CRS; and trust structure.
  • Assisted Boon Rawd Brewery Co., Ltd. with a review of its current business and shareholding structure to eliminate redundant shareholding layers and improve overall tax efficiency of the group of the company.

Tilleke & Gibbins

Tilleke & Gibbins' practice handles transfer pricing, corporate income tax, international tax and the tax aspects of M&A. Consultant Varapa Aurat, who joined the practice in February 2020, co-heads the team - she assists her domestic and international clients on all aspects of tax compliance and routinely deals with the Thai tax authorities when representing clients on tax audits. Co-head Kobkit Thienpreecha is recognised for his work with US clients on local tax matters. Sriwan Puapondh has retired.

Key clients

AnexTour

Gemalto

General Motors

IKEA Holdings Services S.A.

Kellogg’s

Kosei Aluminium

Perry Ellis International

Summit Capital Leasing

Weiss Asset Management

Zuellig Group

Work highlights

  • Provided tax planning for one of the largest petroleum companies in Asia in relation to an EPC contract for a major olefins reconfiguration project.
  • Provided transactional tax advice to a Hong Kong-based investment and property management company on its more than THB 1 billion investment in several long-term leasehold units in a high-end residential project located in central Bangkok.
  • Advised Kellogg’s on Thai tax implications related to prizes awarded to Thai consumers through a proposed online contest.

Blumenthal Richter & Sumet Ltd

Blumenthal Richter & Sumet Ltd's tax practice is active in numerous industries including the automotive, natural resources, mining and life sciences. Sumet Mingmongkolmitr is leading the team and is recognised for his expertise in tax issues relating to foreign investment and offshore tax structuring. He represents high-net-worth individuals and multinational corporations on their tax operations in Thailand.

Practice head(s):

Sumet Mingmongkolmitr

Prompt Legal Services

Prompt Legal Services' clients are made up of domestic and foreign companies, both public and private, who require advice on tax disputes and tax structures for M&A projects. The firm's sector strength extends to  manufacturing, logistics, technology and retail. Promboon Sookatup is recognised for her expertise on tax and customs laws over the last decade and tax disputes.

Practice head(s):

Promboon Sookatup

Key clients

Roechling Automotive

Vamed Engineering

Apaiser

Koerber

Andritz Hydro

Syntegon

BMW Thailand

DFDL Legal & Tax

DFDL Legal & Tax's practice handles all aspects of tax matters including income tax, capital gains tax, and transfer pricing. Jack Sheehan leads the team regionally and is a specialist on international tax planning and M&A, while Jonathan Blaine heads up the team in Bangkok. He counts individuals, trustees, insurers and financial institutions among his clients.  

Practice head(s):

Jack Sheehan; Jonathan Blaine

Key clients

Aditya Birla Chemicals (Thailand) Ltd.

Ion Pacific Limited (HK)

Work highlights

  • Assisted the Thai operational segments of a  very large Indian multinational conglomerate with the transition from a Thai International Headquarters (IHQ) scheme, which was abruptly ended by the Thai government in 2019 under BEPS, to an International Business Company, which is a newly established incentivized program under the auspices of the Thai Board of Investment (BOI).
  • Provided ongoing global investment structuring support for a  Hong Kong based Asian investment fund and asset manager. This advice involves not only local tax advice and investment structuring but also upstream US tax planning and compliance support.

Kudun & Partners

Kudun & Partners represents corporations, individuals, family businesses, and financial institutions, both Thai and international clients, on the full spectrum of tax matters. This includes tax optimisation, advice on  the tax issues relationg to M&A transactions and tax planning. Chinawat Assavapokee is an expert on corporate restructuring and M&A tax planning while Saravut Krailadsiri handles income tax issues for clients in the oil and gas sectors.

Key clients

Pilatus Marine Co., Ltd.

Sahathai Terminal Public Company Limited

Prima Marine Public Company Limited

IRPC Public Company Limited

Siam Health Group Co., Ltd

Siamese Asset Co., Ltd.

Common Area Samui Co., Ltd.

V Property Development Co., Ltd.

Coda Payments (Thailand) Co., Ltd.

Jetion Solar

IT City Public Company Limited

Work highlights

  • Represented IT City Public Company Limited (IT City) — Thailand’s leading retail superstore chain selling computers, tablets, peripherals, smart phones and other related IT products — as lead legal and tax counsel to acquire 100% of the shares in Computer System Connection International Co., Ltd. (CSC), a smartphone retailer.
  • Representing the client — a subsidiary of one of the largest independent operator of petroleum and chemicals tanker in Thailand — as legal counsel to its investment in Solar Power Project in Muang Khong, Champasak Province, Lao PDR.
  • Representing Pilatus Marine Co., Ltd, who owns and operates cargo ships, as their lead tax lawyer and consultant with regard to restructuring of investments for a potential joint venture and IPO.

LawAlliance Limited

LawAlliance Limited acts on corporate reorganisations, tax audits and dispute resolution. The practice is active in the financial, telecommunications, hospitals, retail sectors and led by Piphob Veraphong, a tax specialist who handles tax planning and the tax aspects of securities transactions.

Practice head(s):

Piphob Veraphong

Siam Premier International Law Office Limited

Siam Premier International Law Office Limited advise on the Thai tax law aspects of investment structuring and M&A as well as corporate transactions. The practice also undertakes tax litigation. Praphan Phichaiwatkomol heads up the team and provides deep tax expertise with experience of international tax planning and tax efficient investment structures. Associate Keerada Rungtanakiat is notable for work on the issues arising out of inbound and outbound investments.

Practice head(s):

Praphan Phichaiwatkomol

Other key lawyers:

Keerada Rungtanakiat