The Future of Virtual Assets in Dubai
Introduction: Back in 2021, at “Connect 2021” conference, the Facebook founder Mark Zuckerberg had announced a new era in social media history, via his new project, named, MetaVerse (“Meta” or “MetaVerse”) that is a wide-ranging and interoperable network of 3D virtual worlds, where these worlds are presented in real time, they can be tried simultaneously …
The Big Picture: Goods and Services Tax in 2022 and beyond
Changes in New Zealand’s GST regime will keep taxpayers on their toes in 2022. From addressing impractical rules for GST documentation, to the taxation of cryptocurrencies, a diverse array of areas have been scrutinised and modernised.
The United Kingdom Economic Crime Act
The United Kingdom (UK) Economic Crime (Transparency and Enforcement) Act (the Act”) came into force on 15th March, 2022.
Thailand’s Transfer Pricing Law.
Prior to June 2017, Thailand did not have transfer pricing law. The Revenue Department employed their power to adjust pricing to be at market price based on the provision of Section 65 bis (4) of the Revenue Code. That means the Revenue Department is empowered to adjust the selling price or service fee or interest …
Tech M&A in Thailand Today: The Amalgamation of DTAC and TRUE.
Potential Southeast Asian tech giant formed by the amalgamation of two major Thai telecoms operators.
Postponement of Financial Transaction Tax for Sale of Listed Shares.
In early 2022, the Ministry of Finance revealed that personal income tax on gains derived from the sale of listed shares through the Thai stock exchange may no longer be exempt. Due to certain concerns and negative impacts in the Thai capital market, an implementation of capital gains tax on individual investors is not ready …
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Tax Incentives for the Investment in Thai Startups.
The Thai government has been encouraging all Thai businesses, both corporate and individual, to put more and more investment in Thailand, particularly in local startups this year in order to help boost economic growth after the COVID-19 pandemic is gone.
The New Definitions of Institutional Investor, Ultra-high Net Worth Investor and High Net Worth Investor.
Effective on October 1st , 2022, the new definitions of Institutional Investor, Ultra-high Net Worth Investor and High Net Worth Investor under the Notification of the Securities and Exchange Commission No. Kor. Jor. 39/2564 re: Determination of Definitions of Institutional Investor, Ultra-high Net Worth Investor, and High Net Worth Investor, will be more consistent with …
The Senate Approved the Draft Amendment to the Public Limited Company Act.
On 28 February 2022, the Senate approved the Draft Public Limited Company Act (No. ….) B.E. …. (….) (the “Draft PLC Act”) for amendments of the Public Limited Company Act B.E. 2535 (A.D. 1992) (the “PLC Act”) in order to accommodate the current business operation of a public company and resolve some weak points of …
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SEC Proposes Revisions on Private Placements.
On 9 February 2022, the Securities and Exchange Commission (“SEC”) has announced to arrange a public hearing on the revisions of the rules of newly issued shares offering through a private placement (“PP”) with a purpose of streamlining the procedures, processes and documents which may be required at the time of the submission with the …
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