Thailand Approves latest Relief Measures for Business in Thailand

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Thailand Approves latest Relief Measures for Business in Thailand             The government intended to launch the SME co-payment project by mid-2021, which will help small and medium-sized businesses (SMEs) reduce costs while improving their competitiveness. On March 23, 2021, Thailand’s government approved its latest economic relief package, valued at 350…
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Tax Deduction on Vaccine Donation

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Tax Deduction on Vaccine Donation   On 5 May 2021, the Thai cabinet approved a draft of the Royal Decree on tax measures in supporting vaccine donations with the purpose of encouraging the private sector to donate money or assets to the National Vaccine Institution (“NVI”). The underline tax measures are as follows: For individuals…
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Securities Business Licenses

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Securities Business Licenses   Additional securities business licenses have been introduced with the purpose of encouraging competition. Due to high standard of requirements and compliances which are not flexible for a specific business purpose as well as broad regulation for applying for securities business licenses, thus on 3 March 2021, the Office of the Securities…
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Real Estate-Backed ICO

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Real Estate-Backed ICO The Office of the Securities and Exchange Commission (“SEC”) has completed the measures conducting the real estate-backed initial coin offering (“ICO”) to be in compliance with the REITs. The main objective is to have an appropriate security in order to protect digital asset investors, and fairly preserve the rights of investors. The…
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Personal Income Tax Exemption during Covid-19

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Personal Income Tax Exemption during Covid-19   Due to COVID-19, on 19 March 2021, Ministerial Regulation No. 372 was published as the government financial support scheme. There are 4 types of benefits which do not have to calculate into personal income tax for the year 2020 including; Money received under the financial support and compensate…
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Personal Data Protection Act (“PDPA”)

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Personal Data Protection Act (“PDPA”)   Personal Data Protection Act of Thailand 2019 Deferral of PDPA Enforcement until 1 June 2022 On 5 May 2021, Thai cabinet passed its resolution to postpone the enforcement of Personal Data Protection Act of Thailand B.E.2562 (A.D.2019) (“PDPA”) for another one year which will be effective on 1 June…
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Central Bank Digital Currency (“CBDC”)

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Central Bank Digital Currency (“CBDC”)                     The Bank of Thailand (“BoT”) is planning to launch the Retail CBDC by the second quarter of 2022 which will contribute Thai people accessing to more convenience and secure financial services.           The main reason is…
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Amendment to Public Limited Companies Act (“PLC”)

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Amendment to Public Limited Companies Act (“PLC”)   The government has proposed electronic methods for facilitating operation of public limited companies. Public Limited Companies Act B.E. 2535 of Thailand (“PLC”) applied for a longtime but it is seemed not to be appropriate at present. As a result, the amendment to PLC is proposed in order…
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