Development of electronic meetings in Thailand
Further to the recent outbreak of coronavirus disease 2019 (COVID-19) in many countries, including Thailand, the Thai government has enacted the Emergency Decree on Electronic Meetings B.E. 2563 (2020) which allows the company to hold the meetings via electronic media without the requirement for the attendees to be physically present in Thailand nor to be […]
Payment of salary compensation from the Social Security Fund for low paid workers effected by COVID-19
The following summarises the 2 (two) new Social Security changes to Social Security Fund legislation to provide greater support for the payment of salary compensation for employees (NB: most acutely focused on low paid workers) effected by COVID-19, which has already passed approval from the Thai Cabinet and has been officially announced in the Social […]
Cash is King
The rapid spread of anti-corona virus measures around the world has already had a significant effect on the ability of businesses to continue to function. The total effect varies significantly by industry and by country. Entertainment, hospitality and retail are struggling to survive, and many businesses will simply not make it. Companies in developed countries […]
Impairment Testing 101
Economic crises and / or recessionary environments typically cause reductions in the future expected economic returns of assets which leads to the need for asset impairment tests. Impairment tests provided by independent expert are considered more reliable, accurate and inspire shareholder and / or investor confidence. PKF Thailand has developed an in-depth understanding of the […]
If your next-door neighbor is Airbnb, what are your risks and remedies?
Short-term leasing, such as Airbnb has become more popular in Thailand’s major condominium and house rental markets. However, without a proper Hotel License, these transactions are violating Thai laws. According to Section 4 of the Hotel Act B.E. 2547 (2004), “hotel” means an accommodation established for business purposes of providing temporary accommodation services for travelers or […]
Update on how to best use RMF, SSF and Life Insurance
Are you minimising your tax and maximising your benefits? Our tax team provide an update of how to best use the RMF, SSF and Life Insurance schemes to maximise your Personal Income Tax savings in 2020.
Tax and Legal Implications in Thailand when hiring Freelancers, Subcontractors, Secondees and Related-Company Dispatches
Most companies in Thailand will hire the following persons (foreign or local) to work for their companies from time to time: (1) Secondees (2) Related-Company Dispatches (3) Freelancers (4) Subcontractors However, very few companies have a good understanding of the distinctions or the different tax and legal differences between these four options, which can lead […]
Are you minimising your tax and maximising your benefits? Update of LTF, RMF and SEF programs
With all the year-end excitement, don’t forget about the awesome personal savings you will receive from investing in the LTF & RMF incentive schemes that can give you a personal Thai tax reduction/refund of as much as THB350,000!!! These two often overlooked investments in your future are a genuine “no brainer” for anyone looking to […]
Thailand e-Tax Invoicing Systems for SME Businesses
Did you know that earlier this year the Thai Revenue Department issued a “Notification on e-Tax Invoicing by e-mail BE2560” permitting SME businesses to use e-tax invoicing by email? This relates to the preparing, delivering and maintaining of Tax Invoices. This became effective from 1 March 2017 but the information was not widely circulated in […]
New Labour Law
Retirement Age of Employees THE CABINET approved on 4th January 2017 a draft amendment to the Labour Protection Act, which requires employers to provide compensation to retiring employees as well as setting the official retirement age as 60. The new legislation is expected to become effective in May 2017. Thailand’s labour law has not previously set […]
