Market Overview. Thai GAAP and IFRS Convergence – Status Update, Accounting Guidelines for Financial Instruments, Guidelines for Issuing Credit and Debit Notes, Publication of a Limited Amendment to IAS 36, Separate Financial Statements: Equity Method, Direction of Thai Financial Reporting Standards, FAP to Improve Business System Development, The Outlook for Thai Financial Reporting Standards, Amendments in Thai Financial Reporting Standards, Practice in Transition Period of TFRS for NPAEs, Additional Requirements in Applying TFRS for NPAEs, TFRS for NPAEs - Provision for Severance Payments, Accounting – FAQ December 2011 (Part 2), Accounting – FAQ December 2011 (Part 1), Incomplete Accounting Records and Lost Documents, Accounting Standard for NPAEs Approved by FAP, Interpretations on Specific Accounting Matters. Mazars Thailand Flooding Update - Tax Submission Deadline Extension, Proposed Reduction in Corporate Income Tax Rates, Tax Flood Relief Measures for BOI Promoted Companies, Information for Businesses Impacted by the Floods, Specific Business Tax Payable on Loans to Directors, International Procurement Centre Tax Measures, Thailand’ Board of Investment Foreign Applications Increase, Tax Relief for Donations to National Disasters, Thailand’s Revenue Department Must Chase After Trillions, Thailand's Board of Investment agrees tax incentives for 13 projects, Toyota warns about impacts of Thailand tax reform, Thai Revenue Department - Payment by Tax Smart Card, Thailand’s Insurers want Tax Incentives for Listing, New Tax Incentives for Regional Operating Headquarters in Thailand, PIT Exemption of UK National Expatriate Teachers, How to Protect Your Personal Income Against the ‘Free Fall’ of the Euro, Tax Measures to Assist Business Operators, Boosting Travel Industry by New Tax Incentives, New tax measures for Regional Office Headquarters, Tax Update - April VAT and SBT filing delayed, Tax Exemptions for Gemstones Import and Sale, March Value Added Tax (‘VAT’) returns deadline extended, Tax News – Extension of Property Incentives, Reviewing the Tax Privileges for Setting up ROH, Mazars payroll flash news – February 2021, Mazars payroll flash news – December 2020, Personal income tax return (PND 91) - A Closer Look, Mazars payroll flash news – October 2020, Mazars Payroll Flash News – September 2020, Mazars Payroll Flash News – July 2020 (Part 2), Mazars Payroll Newsletter – February 2020, Personal Income Tax Return (PND 91) - A Closer Look, Mazars Payroll Newsletter – December 2019, Mazars Payroll Newsletter – May 2019 (Part 2), Mazars Payroll Newsletter – January 2019, Mazars Payroll Newsletter – December 2018, Personal Income Tax Saving Tips – A Closer Look, Mazars Payroll Newsletter – November 2018, Mazars Payroll Newsletter – October 2018, Mazars Payroll Newsletter – February 2018, Mazars Payroll Newsletter – January 2018, Mazars Payroll Newsletter – December 2017, Mazars Payroll Newsletter – November 2017, Mazars Payroll Newsletter – October 2017, Mazars Payroll Newsletter – September 2017, Mazars Payroll Newsletter – January 2017, Mazars Payroll Newsletter – December 2016, Mazars Payroll Newsletter – October 2016, Mazars Payroll Newsletter – September 2016, Mazars Payroll Newsletter – August 2016, Mazars Payroll Newsletter – December 2015, Mazars Payroll Newsletter – February 2016, Reduced personal income tax rates extended, Extension on Tax deductions for LTF contributions, Mazars Payroll Newsletter – November 2015, Mazars Payroll Newsletter – October 2015, Mazars Payroll Newsletter – September 2015, Mazars Payroll Newsletter – August 2015, Mazars Payroll Newsletter – October 2014, Mazars Payroll Newsletter – Sept to Dec 2013, Mazars Payroll Newsletter – May to August 2013, Mazars Payroll Newsletter - January to April 2013, Mazars Payroll Newsletter - October to December 2012, Mazars Payroll Newsletter – June to August 2012, Work Permit And Visa Application Process in Thailand, Thai Employment Law – Termination of an Employee, One Stop Service Centre for Visas and Work Permits to be relocated, Andreas Barckow appointed as IASB Chairman, IASB adds Post-implementation Review of part of IFRS 9 to its work plan, Lease liability in a sale and leaseback: IASB publishes Exposure Draft, Discussion Paper on business combinations under common control, ESMA publishes recommendations for 2020 financial reporting, Standard-setting for global sustainability and the role of the IFRS Foundation, Tentative IFRS IC decision on a sale and leaseback transaction via the sale of equity interest in a subsidiary, The European Union enters the race to standardise non-financial reporting, IASB publishes revised versions of Due Process Handbook and IFRS Foundation Constitution. Doing Business The project, launched in 2002, looks at domestic small and medium-size companies and measures the regulations applying to them through their life cycle. The most important law governing foreign direct investment in business in Thailand is the Foreign Business Act B.E. Thailand is home to over 50,000 British residents. There are plenty of solid business opportunities in Thailand to take advantage of by both people […] Discover the latest news, events and publications from Mazars. Under the treaty, with the exception of a few sectors, U.S. companies operating in Thailand are afforded national treatment, or an “equal playing field,” with Thai companies. According to Doing Business 2017, published by the World Bank, the convenience of “enforcing contracts” in Thailand ranks at 51st in the world’s 190 economies, while economies in the Asia-Pacific region rank 53rd on average. No wonder, in the recent World Bank’s annual ‘Ease of Doing Business’ rankings, Thailand rose to 21st position out of over 190 surveyed countries and looking to climb up the ladder in the years to come. Is an employee liable to income tax for a house provided by the company during the floods? 1. Applicability of the information to specific situations should be determined through consultation with your advisors at RSM. Listed company, statutory, and group audits, タイ法務税務等アップデート Thai Legal and Tax Updates JP, 태국 비즈니스를 위한 정보 Information for Thai business, Rehabilitation of businesses affected by COVID-19, Revaluation to be allowed under TFRS for NPAEs, Replacement for Songkran holiday on 27 July 2020, A message from Managing Partner regarding Covid-19, Mazars APAC Payroll Newsletter – Quarter 2 – 2020, COVID-19 Relief Measure on Provident Fund, TFAC Measures for Entities Affected by COVID-19, COVID-19 impact on cash flow & business valuation, BOI measures for medical and related industries, APAC Payroll Newsletter – COVID-19 Special, Applications to support working from home, Top Priorities for Business in Light of COVID-19, Mazars presented at 19th Law Seminars by KTCC, One of the Best Companies to Work for in Asia 2019, Mazars Nominated as Most Innovative Company, Mazars wins Xero Regional Partner of the Year Asia, Mazars appointed to the board of directors of KTCC, Mazars participated in an event organized by KTCC, Mazars Announced as Finalist in Xero Awards, Export Your Talent - MOVE Programme Testimonial, His Majesty King Bhumibol Adulyadej 1927 – 2016, Mazars Asia Pacific CARL Partners’ Meeting 2015, Mazars strengthens its presence in Germany, Mazars Student Brand Ambassador Program 2015, First Xero Gold Partner in Thailand and SE Asia, Impact from the New Investment Promotion Scheme, Presentation on Tax and Other Labor Policies by Director of Taxation, "Doing Business in Thailand" Roadshow for SMEs, Songkran Themed Dinner Party for Mazars Partners, Five Tips for Accounting and Tax Best Practice, Boutique Hotel Accounting Outsourcing Services, Mazars Asia-Pacific Corporate Finance services, Mazars sponsor European Chambers Networking, Accounting Director elected onto BCCT Board, Thought Leadership - Laotian K-12 Education Sector, Thought leadership series: Thai education sector, Thought leadership: Southeast Asia K-12 education, Transforming Mindsets for Effective Leadership, Mazars Thailand at the MFU Internship Fair 2014, Mazars Asia Pacific -Carl Partners’ Meeting in BKK, Mazars Presented at the KU Careers Road Show, Mazars Thailand 2013 Graduate Recruitment, Mazars Thailand at the 2012 ABAC Careers Week and Recruitment Road Show, International Marketing and Communication Summit, Mazars joined ABAC University Careers Road Show, Mazars Attends KU Business School's Job Fair 2011, Entrepreneurs' Secrets For A Successful Business, Using ApprovalMax in the renewable energy sector, Cash is King - Back to Basics in the Bangkok Post, Mazars develops its digital services with HReasily, Marcalliance announces evolution governance, Mazars Accounting article in the Bangkok Post, Mazars creates Mazars North America Alliance, Mazars develop its presence in the US with Weiser, 15.9% Annual Growth and a Key Merger in China, Mazars keeps developing digital transformation, Mazars-and-King-s-College-London-launch-LL.M, Looking for Mazars Student Brand Ambassadors 2020, Looking for Mazars Student Brand Ambassadors 2019, Accounting Academic Seminar Camp 2018 of ABAC, Accounting ‘Born to be Cheer 2018’ at UTCC, Looking for Mazars Student Brand Ambassadors 2018, Looking for Mazars Student Brand Ambassadors 2017, Third Generation of Mazars Brand Ambassadors, Looking for Mazars Student Brand Ambassadors 2016. Business organisations available to foreigners. For more information on the cookies we use, please refer to our Privacy Policy . +66 2 670 1100 Send a message Linkedin profile Twitter account, +66 2 670 1100 ext. Thailand: An Overview 1.1 Geography and Climate Thailand is strategically situated in Southeast Asia, bordered by Cambodia to the southeast, Laos to the north and northeast, Myanmar to the north and west, and Malaysia to the south. Make good use of the knowledge and services available from government authorities and branch organizations. Fiscal obligations are by far the most laborious aspect of doing business in Thailand. Being known for its beautiful natural sceneries as well as a booming economy, Thailand is indeed a landing ground for foreign investors who need to doing business in Thailand. To enter Thailand with the purpose of doing business, you will require a non-immigrant ‘B’ (business visa). Setting up and running business organisations. Global Mobility Doing Business Abroad Cultural Awareness. Be prepared Before coming to Thailand, good preparation is essential. Thailand consistently ranks among the most attractive investment locations in international surveys, and the World Bank's 2010 Ease of Doing Business report places Thailand as the 12th easiest country in the world in which to do business. IASB defers effective date of amendments to IAS 1 on classification of liabilities as current or non-current, Recognition of other costs associated with the acquisition of property, plant, and equipment, IOSCO encourages issuer’s fair disclosure about COVID-19 related impacts, IFRS IC publishes agenda decision on accounting for deferred tax related to an investment in a subsidiary, IFRS IC publishes agenda decision on sale-and-leaseback transactions with variable payments, IFRS IC publishes agenda decision on player transfer payments, Amendments to IFRS 17 and IFRS 4 published, Discussion paper on goodwill and impairment, IFRS IC clarifies the treatment of training costs incurred to fulfil a contract with a customer, Narrow-scope amendments to IFRS 16 to take account of COVID-19, Impact of the COVID-19 pandemic on IASB work plan, Classification of trust units of a Real Estate Investment Trusts (REIT), Property Funds, and Infrastructure Funds in Thailand, Amendments to IAS 1 on liabilities classification, IFRS 16: shipping contracts and the use of a ship, Guide to selecting and applying accounting policies, Podcast of IASB decisions taken at October Board meeting, Compilation of IFRS IC agenda decisions published, Progress report on Goodwill and Impairment project, Determining incremental borrowing rate under IFRS 16, Key points of the ED on amendments to IFRS 17, ED published on Disclosure of Accounting Policies, IFRS applied to holdings of cryptocurrencies, IFRS 15 agenda decision on cost recognition, Classification of a post-employment benefit, Improvements to IFRSs – 2018-2020 Cycle, Application of the ‘highly probable’ criterion, Decision on accounting for SaaS purchases, Real estate development and borrowing costs (IAS 23), Presenting cured credit-impaired financial assets, Update on Principles of Disclosure project, Agenda decisions on accounting for an investment, Update on IFRS 17 – Insurance Contracts, IAS 23: IFRS IC publishes two agenda decisions, The IASB publishes its FICE discussion paper, IFRIC publishes important decisions on IFRS 15, IASB publishes narrow-scope amendment to IAS 19, First TRG meeting on the introduction of IFRS 17, Accounting consequences of the US tax reforms, Case study report on improving disclosures, Measurement of long-term interests in associates and joint ventures, IFRS 9 amendment on symmetric prepayment options, IASB to clarify its definitions of accounting policies and estimates, Materiality: the IASB publishes two documents, IASB proposes narrow-scope amendments to IAS 16, IFRIC 23 - Uncertainty Over Income Tax Treatments, Improvements to IFRS8 on operating segments, Annual Improvements cycle 2014-2016 published, Publication of amendments to IFRS 3 and IFRS 11, Development and implementation of IFRS Standards, IFRS IC clarifies treatment of prepaid cards, IFRS 15: Stabilised standard on revenue recognition, IASB publishes limited amendments to IAS 12. Benefits to UK businesses exporting to Thailand include a growing affluent middle class, well-developed infrastructure and the government’s pro-investment policies. PRESENCE. The Mazars guide to doing business in Thailand is completely free of charge to you. New and revised Thailand Standards on Auditing, New Auditors’ Report and Key Audit Matters, New FAPThai Audit rules aim to improve quality, Restating a Company’s Prior Year Financial Statements, Mazars ask for joint audits to be considered, New Thai Standards on Auditing Issued by FAP, CAT Qualification is Open for Applications, Changes in the useful lives of fixed assets, Accounting for sales with a right of return, Revaluation model for property, plant, and equipment, as well as investment property for non-publicly accountable entities, Exposure Draft of Thai Standards on Auditing 540, Tax coupons for duty and tax paid on exported goods in Thailand, Accounting for a non-refundable up-front fee, TFRS 15 – Revenue from contracts with customers, Treatment of rental property income and expense, Guidance on Revenue from Contracts with Customers, Capitalizing software and cloud computing, TFRS 15, ‘Revenue from contracts with customers’, Delay in effective date of TFRS 9, ‘Financial Instruments’, Recording expenditures for a start-up company, Accounting for the employee benefits obligation, Reclassification of loans repayable on demand, How to present goodwill in financial statements, Revised TSA to affect auditors’ reports, TFRS 15: Revenue from contracts with customers, Correcting Errors in Financial Statements, Recognizing revenue from the sale of real estate, Thai Financial Reporting Standard for SMEs, Accounting policies, estimates and errors, Accounting for investments under TFRS for NPAEs, Proposed clarifications to IFRS 15 published, Rebates Related to the Purchase of Inventory, Accounting for Sale and Leaseback Transactions, Thailand Financial Reporting Standards Roadmap, Accounting for Actuarial Gains and Losses, Application of the “Consolidation Package”, IFRS 15 - Recognising Revenue from Contracts, Cash Equivalents and Temporary Investments, IFRS 15 - Revenue from Contracts with Customers, IFRS/US GAAP Convergence on Financial Instruments, IASB Revised Amendments to IAS 16 and IAS 38, IFRS Amendments Effective from 1 January 2014, Costs of Conducting Business in a New Location, Thai Financial Reporting Standards for SMEs. 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