Exemption of annual fees for factory business operators
Due to the recent outbreak of coronavirus disease 2019 (COVID-19) in Thailand, the economic downturn has negatively affected various stakeholders and actors across the economy, especially in industrial and manufacturing sector. Consequently, many factory operators have been suffering from a decrease of income and increase of cost of production. With due response, the Ministry of […]
Bringing a degree of clarity to the yet-to-be-ratified Thai Gov’t measures aimed to support debt restructuring
There appears to be some confusion among businesses in Thailand as to the prospects for support measures from the Government of Thailand aimed at debt restructuring to tackle the economic effects of COVID-19. At the beginning the COVID-19 lockdown, the Ministry of Finance announced approval (subject to Thai government ratification) to implement tax and fee […]
A Discussion on Managing Uncertainty for Decision Makers
COVID-19 has drastically changed the global economic outlook, and now more than ever, it is important to balance realism with optimism. We have no way of knowing how long the COVID-19 crisis is going to last and what the World will look like once it has passed but what is certain is that things are […]
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 […]
