Historically fragmented and often overlooked by emerging market investors, South-east Asia has become one of the leading destinations for FDI in recent years. The creation of ASEAN, South-east Asia’s unified economic and trade bloc, has encouraged regional cooperation and better connectivity.
There are two categories of income tax in Thailand, personal and legal entity. Personal income tax is a direct tax that every person with an income is required to pay, and also any person who died in that fiscal year, undivided estates, and ordinary partnerships or groups of people that are not a legal entity. Personal income tax is based on...
Of the business bases in the ASEAN region, Thailand is well placed to attract substantial foreign direct investment. The Foreign Business Act of 1999 (FBA) directly governs foreign investment in the country. Under the FBA, foreign businesses are separated into two categories: legal entities not registered in Thailand and legal entities...
In recent years Thailand has enacted a number of legal reforms to improve the regulatory environment for foreign investors and augment corporate governance. These measures have positioned Thailand as an example of an emerging Asian economy that has developed comprehensive corporate and criminal legal frameworks to encourage trade and investment. The benefits of these...
Thai cuisine is famous and popular the world over, and for many visitors a main highlight of any trip to the kingdom is the ability to sample Thai cooking on its home soil. While very few inbound visitors hailing from international cities do not have access to a Thai restaurant in their home country, there is still something unique and special...
The main body of tax law in Thailand is the Revenue Code. Taxes under the Revenue Code are primarily collected under a self-assessment system, whereby taxpayers take responsibility for correctly filing their tax returns and paying taxes.
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