Import/Export Companies and Tax Implications for Defective Goods

A common problem faced by import/export companies is when goods that are ordered from overseas turn out to be defective. International traders in Thailand should be aware that there are tax implications arising under the Revenue Code regarding their defective stock. Further guidance is provided in Revenue Department Advisory Opinion No. Gor Kor. 0702/8141 issued […]

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Child Custody Under Thai law

| October 9, 2015 | Family Law

Aside from divorce, child custody proceedings under Thai law may arise where it is alleged that a parent or guardian is not fit or should not be allowed to exercise parental power. Specifically, Section 1582 of the Civil and Commercial Code provides that where a parent or guardian is “adjudged incompetent or quasi-incompetent, or abuses […]

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NCPO has tentatively agreed to impose inheritance tax in Thailand

| October 1, 2015 | Property

There is currently no inheritance tax in Thailand but recent news is that National Council for Peace and Order (NCPO) has tentatively agreed in principle to impose an inheritance tax to reduce wealth inequities. It has been reported that the Ministry of Finance is looking at a graduated inheritance tax between 5 person and 30 […]

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Restricting Foreign Ownership: Amendments to the FBA

The Thai government has recently announced plans to make Thailand the financial capital of Southeast Asia. This was later followed up with an announcement that the Ministry of Commerce is reviewing whether to further tighten the definition of a foreign owned business in the Foreign Business Act. This set off alarms among many Thai-Foreign joint […]

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Defenses to Defamation

| September 10, 2015 | Criminal Law, Litigation

Under Thai law, defamation is generally the act of imputing something regarding a person to a third person that is likely to damage the reputation of that person. Unlike in some other jurisdictions where the act of defamation only carries civil liability, defamation is a criminal offense in Thailand punishable by up to one year […]

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International Headquarters and International Trade Centers

Siam Legal has extensive experience in working with foreign investors to help them establish their business operations in Thailand. For the convenience of our foreign clients, we prepare brief translations and synopses of Thai government announcements that directly or indirectly affect them. Recently, on January 15, 2015, the Department of Business Development issued an announcement […]

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Disinheritance from a Will

The Civil and Commercial Code generally provides two categories whereby a testator may disinherit one of his or her statutory heirs from a will. According to Section 1608, the testator “may disinherit any of his statutory heirs only by an express declaration of intention… by will” or “by writing deposited with the competent official.” Furthermore, […]

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A Look Around ASEAN: Myanmar

| July 31, 2015 | ASEAN

Despite recent reports that Thai investment in Myanmar has stagnated,1 the oncoming integration of the ASEAN Economic Community (AEC) in 2015 can only mean a greater flow of Thai capital into Myanmar and stronger economic ties between the two neighbors. In Myanmar, foreign investment is governed by a legal regime consisting of the Foreign Investment […]

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Applying for a Land Allocation License

| July 17, 2015 | Land, Property

Property developers in Thailand who are planning to construct a housing community must first request a land allocation license from the Land Department. The property developer must file an application according to the Land Development Act of B.E. 2543 (2000) which requires the following evidence and details: The title deed or other document evidencing rights […]

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What is required to open a company in Thailand?

There are many reasons why a foreign national would like to open a Thai company. Establishing a Thai company may assist a foreigner to purchase property, live in Thailand, or work in Thailand. The Thai government would like the primary intent of forming a company to be the building of a new business to earn […]

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