A foreign-owned business may establish a presence in the Thai market in the form of a liaison office for marketing and other non-transactional purposes. Setting up a representative office is easier to establish than a branch office, thus making it the simplest and fastest way for an offshore company to build a physical presence within the country. No…
When a company needs to be shut down because of various reasons, like poor profitability, inability to effectuate business operations or economic conditions, the company liquidation procedure in Thailand has to be undertaken under certain rules and regulations according to the Civil and Commercial Code. Individuals who wish or have to liquidate a company in Thailand can…
The Thailand - Ireland Double tax treaty was signed in 4 November 2013. The aim of such a treaty is to avoid double taxation and avoid fiscal evasion. Double taxation occurs when the same income or capital gain is taxed by two countries. It generally happens when the income is generated in one state and is paid…
Foreign entrepreneurs who are interested to open a retail business in Thailand can take advantage of the country’s strategic position in Asia, which is beneficial due to its geographic location as a gateway to the center of Asia, with convenient access to the dynamic markets of the area, as well as due to…
If you are a foreign citizen looking to open a company in Thailand, it is important for you to know that, because of the rapid growth of the international trading market and the growth of economic relations between the nations, double tax treaties have increased their numbers worldwide. The Thailand-U.S. double tax treaty was signed in 1997, marking…
If you are a foreign investor looking to establish a travel agency in Thailand, you should know that the tourism sector is one of the most profitable industries in this country. Thailand is one of the top locations to visit for adventure purposes but also for its cultural heritage. Many people enjoy visiting Bangkok while others travel…
Recruitment companies in Thailand are set up to enable a business to hire personnel. Recruitment companies can also assist Thai businesses to employ personnel from abroad. The recruitment industry in Thailand is quite a developed one, with many Thai professionals looking for places to work and expats interested in acquiring a job in the land of smiles. However,…
The IT field in Thailand is an industry which qualifies for special Board of Investment (BOI) promotion, being one of the most developed industries in the country. Foreign investors generally face certain disadvantages when setting up a company in Thailand, because of the restrictions set in place to protect jobs for local citizens. However, the BOI…
The taxation system in Thailand is mainly regulated by the Thai Revenue Code, which governs the corporate income tax, the VAT, the Specific Business Tax and the stamp duty. Customs taxes are governed by the Customs Act. The excise taxation is regulated by the Excise Act and the petroleum income tax is governed by the…
Thailand has signed various “Agreements of the Avoidance of Double Taxation”, also known as double tax treaties, with numerous countries. The aim of these treaties is to avoid a company from a certain country to be taxed twice on income earned in the other country. The provisions of a double taxation treaty can be explained by…
