1. Continued Legal Audit on Illegal Thai Nominee Shareholder

In 2017, the Department of Business Development plans to collaborate with other regulators in order to intensify the audit on the illegal use of Thai nominee shareholder on three groups: tourism business, land trading and property business and agricultural business.

2. New Standard Deduction Rates for Personal Income Taxpayer

The government introduces new deduction rates for standard deduction for Sections 40(1), 40(2) and 40(8) income in 2017. The government also makes personal income tax cut (reduced progressive rates) permanent.

3. No More Presumption of Guilt for Company Representatives

The National Legislative Assembly passes the Amending Act to repeal statutory provisions presuming the guilt of legal representatives of companies and partnerships in 76 pieces of legislation.

4. New Investment Law Offers Tax Holiday up to 13 Years

The National Legislative Assembly passes the BOI Act No. 4 to empower the Board of Investment to grant a promoted person corporate income tax exemption up to 13 years.

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We trust the newsletter will be informative, enriching and useful for you and your business.

Should you require more information, please do not hesitate to contact us.


Yours faithfully,

Narit Direkwattanachai, LLM (Cambridge)
Attorney at Law
T: 086 785 0793
E: narit@naritlaw.com

 

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