Tag: taxation

Improved tax incentives for investment in Thai ESG Funds approved by cabinet

Improved tax incentives for investment in Thai ESG Funds approved by cabinet On 30 July 2024 the Thai cabinet approved in principle a Draft Ministerial Regulation proposed by the Ministry of Finance to improve the personal income tax incentives for investment in Thai ESG funds. The main changes are: The minimum period that the investment […]

New rule for taxation of foreign income from 1 Jan 2024

Thailand’s Revenue Department has issued an instruction that changes its interpretation of the taxation of foreign income remitted into Thailand by personal taxpayers, effective from 1 January 2024. The instruction, dated 15 September 2023, states that a tax resident of Thailand who derives assessable income from an employment or business carried on abroad, or from […]

Enhancing International Tax Transparency on Real Estate

Following a request from the Indian G20 Presidency, the OECD has prepared a report that examines the current state of tax transparency concerning foreign owned real estate.   An immediate benefit of enhancing tax transparency on real estate would be to equip tax administrations with the information necessary to ensure compliance with tax obligations in connection with […]

Thai Government to Begin Taxing Foreign-Sourced Income as of 2024 

On September 15, 2023, the Thai Revenue Department (TRD) released Departmental Instruction No. Paw 161/2566 (2023) concerning income tax payments according to Section 41, Paragraph 2 of the Thai Revenue Code (TRC). This newly introduced guidance is expected to have a significant impact on the tax regulations governing the repatriation of foreign-sourced income to Thailand […]

Thailand: The move from LIBOR and TP – a Thai perspective

Andrew Jackomos and Rohit Sharma of HLB Thailand discuss the end of LIBOR which is likely to affect the tax structuring or planning of many multinationals. In determining interest rates for various debt instruments, including inter-company financing transactions, the most widely used interest rate benchmark has been the London Inter-bank Offered Rate (LIBOR). LIBOR is […]