PDPA Effect Date Again Postponed
The enforcement date of the Personal Data Protection Act (PDPA), 1 June 2021, is postponed by another year.
Thailand’s Statutory Interest Rate Amendment
On 10 April 2021, Thailand made significant changes to the statutory interest rate framework for the first time as the interest rates specified in the Civil and Commercial Code (“CCC”) have been enforced for almost a decade. The trigger for the change in the interest rate was due to Covid-19’s recent impact on the Thai …
Continue reading “Thailand’s Statutory Interest Rate Amendment”
Liability of Shareholders in a Thai LLC
By definition, the liability of shareholders in a “limited liability company” is limited. However, in many countries case law has evolved that “pierces the corporate veil”. In this contribution, we will analyze whether the principle is upheld strictly in Thailand, or whether there are significant exemptions.
Signing and Closing in Mergers and Acquisitions (M&A)
Negotiations of business acquisitions are often complicated and drawn out. After successful contract negotiations, the parties are usually keen to complete the business purchase quickly. However, due to the complexity of such transactions, it is common practice that the actual economic transition takes place with a significant delay after the date of the signing of …
Continue reading “Signing and Closing in Mergers and Acquisitions (M&A)”
Social Security Contribution Temporarily Reduced
Due to the recent second outbreak of COVID-19 in Thailand, the Thai government then restricted some businesses from operating, which results in an increase in unemployment or reduced income for most people. As a method to ease the burden, the Ministry of Labor published a new regulation on 30 December 2020 under the Social Security …
Continue reading “Social Security Contribution Temporarily Reduced”
Taxes and Fees Related to the Sale of Immovable Property
When buying property in Thailand, in addition to paying the price of the property, one can also expect to pay other fees, duties, and taxes in order for the transfer of ownership to be complete. For people who are unaware of these extra costs, it can mean the difference between deciding whether or not to …
Continue reading “Taxes and Fees Related to the Sale of Immovable Property”
Homestay License Requirements
This article outlines the requirements, application procedure, timeline, and official fees concerning the homestay license.
The “Khai Fah”– Updates Regarding the Sale with Right of Redemption in Thailand
Thai law provides a means of real security and an alternative to the mortgage, the so-called Sale with Right of Redemption (Thai: “Khai Fah”). It is governed by Sections 491 ff. of the Thai Civil and Commercial Code (“CCC”), and it involves a conditional transfer of ownership that can be redeemed under certain circumstances.
Taxation For Foreign Investors
This contribution aims to provide a high-level overview of the taxes that could apply to foreign investors in Thailand.
Legal Regulations and Tax Implications of Cryptocurrencies
In times of economic uncertainty and growing loss of confidence in fiat currencies, cryptocurrencies like Bitcoin or Ethereum are among the most discussed alternatives to established currencies. This article intends to provide a brief overview of legal regulations and tax implications of cryptocurrencies in Thailand.