Measures for registering sale and mortgage of immovable property & Condominium Unit in 2023, Measures for e-Tax system and use of e-Withholding Tax system, Labor case study
Reduction of EV battery excise tax
A National Committee on Electronic Vehicle Policy (EV Board) agreed in principle on a proposal to lower the excise tax privilege on EV batteries from the current 8 % to just 1 % , including a considerable measure of offering a 24-billion-baht subsidy to EV battery-producing industry in Thailand, which it is an important component used in Battery-producing of Electric Cars. The amount of the subsidy on offer will depend on the size of the battery produced
Thailand Customs Department’s new rule to not search tourists owning luxury belonging
Thailand Customs Departments has issued a new policy to not search tourists who own personal belonging, not commercial trades, entering into the Country, unless there is a report of suspicious behavior such as smuggling or showing that it is clearly not personal belonging.
New delivery of the notice of shareholders’ general meeting
The Amended section 1175 of Civil and Commercial Code requires that delivery of notice of every general meeting of shareholders holding share certificates under their own names shall be only sent by registered mail with acknowledgement of receipt to all shareholders whose names appear in the registration of shareholders. While delivery of notice of the meeting of shareholders who bearer shares will either published at least one time in a local newspaper or in electronic media. In this regard, if Article of Association of the company before amendment of this section requires that delivery of notice of general meeting shall be published in a local newspaper, the Article of Association can still be enforced but if the company does not follow such method, the company shall submit application for amendment of the company’s Article of Association at Department of Business Development.
Land Department’s inspection on Thai land ownership on behalf of foreigners
Land Department has inspected foreigner who buying a Condominium unit & land from a buyer’s source of income, shareholders, salary, buyer’s career, tax payment together with whole evidences in order to prevent appointment of Thai nominee buying immovable property on behalf of foreigners who has unlawfully carried on a business competitive with Thais. After inspecting, if it found out that there is increase of shares or a buyer being foreigner, Land Department will notify a report to Anti-Money Laundering Office (AMLO) for acknowledgement and proceed to seize land for sale by auction and money from such auction shall belong to the State.