The Trade Competition Commission recently published draft notifications, which are to become supplementary regulations to the Trade Competition Act, B.E. 2560 (2017), pursuant to sections 17(2) and 17(3) of the Act which authorizes the Commission to issue subordinated legislation to implement the Act and impose guidelines on businesses to maintain free and fair competition. An online public hearing on the draft notifications has been held since 24 May 2018, and will be closed on 22 June 2018.Read More
Following the enactment of the Emergency Decree on the Digital Asset Businesses B.E. 2561 (A.D. 2018) and the Emergency Decree on the Amendment of the Revenue Code (No. 19) B.E. 2561 (A.D. 2018), which became effective on 14 May 2018, the Office of the Securities and Exchange Commission held a public hearing on the draft of related sub-regulations to be issued under the Digital Asset Businesses Decree on 16 - 30 May 2018. These sub-regulations are expected to be officially issued within June 2018.Read More
On 17 May 2018, the Department of Business Development ("DBD"), the Ministry of Commerce, published two clarifications on board of directors meetings for public limited companies after consultation with the Office of the Council of State.Read More
Following on from our recent alert, the Act for the Eastern Special Development Zone (commonly called the Eastern Economic Corridor or “EEC”) was published in the Royal Gazette on 14 May 2018 and took effect on 15 May 2018.Read More
As discussed in our previous client alert, the recently amended Emergency Decree on Managing the Work of Aliens B.E. 2560 (2017) requires employers who have already employed foreigners with valid work permits before 28 March 2018 to notify a work permit official of the foreigners' names, nationalities and nature of work employed within 60 days from the effective date of the Amended Decree or by 26 May 2018. The details of the notification method have now been issued.Read More
On 18 April 2018, the Customs Department publicly launched the “One Stop Services for Voluntary Disclosure Program: OS-VDP” to develop a better relationship with the business operators (e.g., importers and exporters), to promote a good image of the department, and to facilitate duty collection of unintentional underpayment of duty and tax.Read More
The Ministry of Commerce has issued a ministerial regulation prescribing new rates of official fees for registration of partnerships and private limited companies, taking into account recommendation from the World Bank on the rates of official fees for corporate registration. The new regulation became effective from 21 April 2018 onwards.Read More
Following the enactment of the Emergency Decree on Managing the Work of
Aliens B.E. 2560 (2017) back in late June 2017 as mentioned in our previous alert, there has been much confusion prompting a number of foreign workers to leave Thailand due to fears of harsh penalties against offenders under the Decree.
The European Union has recently adopted the General Data Protection Regulation, a new piece of legislation intended to protect the privacy of data subjects in the EU, which will be effective from 25 May 2018.Read More
Following the public hearing of the Personal Data Protection Bill in January 2018, the Ministry of Digital Economy and Society has amended the draft again and published a revised version of the draft Personal Data Protection Bill in early April 2018.Read More
The Revenue Department (RD) and the Department of Business Development (DBD) signed a memorandum of understanding on 6 March 2018 in a move to facilitate business operators' annual filing of audited financial statements.Read More
Further to our previous alert last month on the new minimum wage, which comes into force nationwide from 1 April 2018 onwards (link), the Cabinet recently approved the new minimum wage rates for skilled workers in 16 professional branches across four industry groups as proposed by the Ministry of Labour. The new Notification of the National Wage Committee on Wage Rates According to Skills Standards No. 7 (the "Notification") is expected to be published in the Government Gazette soon and come into force 90 days after its publication.Read More
Having embarked on the path to transform Thailand's economic model into a value-based and innovation-driven economy, known as Thailand 4.0, the government has launched a number of initiatives, including measures to attract more foreign businesses to invest in the country in targeted industries.Read More
In this series, Baker McKenzie will be bringing you frequent updates regarding the Thai government's Eastern Economic Corridor (EEC) scheme. Initially, Chachoengsao, Chonburi, and Rayong provinces in eastern Thailand have been chosen for the development of the EEC as traditionally they have been the hotbed of industrial development in Thailand and have ample access to the Gulf of Thailand. Currently, the EEC covers an area just over 13,000 km2.Read More
On 30 January 2018, the Cabinet approved new nationwide minimum wages as proposed by the Ministry of Labour. Effective from 1 April 2018 onwards, the new minimum daily wage rates will increase to a range of Baht 308 to Baht 330 varying from province to province.Read More
We have summarized legal update in Thailand in 2017 and contributed to the journal “Shoho” of the Japanese Chamber of Commerce, Bangkok (February 2018).
The summary provides information on major amendment of laws in Thailand, including new Customs Act, Excise Tax Act, Relaxation in Foreign Capital Regulation, Investment Promotion, Employment, Governmental Bidding, Compliance related topics etc.
Please contact us for more information.
#2: The Regulator - The New Tiger (with Teeth)
The new Trade Competition Act, which came into effect on 5 October 2017 (the "New Act"), boasts greater enforceability of competition law in Thailand, especially with a major change in the Trade Competition Board (the "Board"). But the real question is: can greater enforceability be achieved?Read More
The new Customs Notification No. 189/2560, issued under the new Customs Act (Customs Act B.E. 2560), was recently announced to amend the customs appeal procedure, submission of the excise tax appeal, appeal form, and timeframe for appeal consideration. This Customs Notification will also clarify the conditions, timeframe, and procedures of the consideration for approval on stay of duty payment requests, and to regulate the appeal process and stay of duty payment request process to be consistent with the new Customs Act.Read More
Since our July 2015 update (available here), the 2015 draft Personal Data Protection Bill (the "2015 PDPB") was withdrawn by Cabinet Resolution and returned to the Ministry of Digital Economy and Society (the "MDES") for amendment. Now, after more than two years, a new draft Personal Data Protection Bill (the "New PDPB") has finally been drawn up and a public hearing has been scheduled from 22 January 2018 to 6 February 2018. Participation in this public hearing is now sought.Read More
In August 2017, the Office of the National Anti-Corruption Commission ("NACC") issued a manual to outline what may be considered as "appropriate internal control measures" for the prevention of acts of bribery within a company ("Guidelines").Read More