R E M E M B E R • A director must act in the best interests of the company at all times. • A director may not favour the interests of the shareholder or the member who arranged for his election if that person’s interests differ from the interests of the company ...
In conversation with... Our panel of experts - Nina Pindham of No.5 Chamber, Sam Grange and Will Thomas from Shoosmiths and Rhys Bradshaw from DLP Planning took a fresh look at the new "Planning" Bill and gave us their thoughts. There are many questions that many have about the new ‘Planning’ bill... Is this the final Act for s ...
The "say-on-pay" rules giving stockholders a voice in executive compensation are now in place for publicly traded companies. The rules establish new proxy requirements applicable to the 2011 proxy season, although for smaller reporting companies, implementation of certain of the rules has been deferred until 2013. A number of companies have already begun to report the results of their “say-on-pay” votes ...
Kudun and Partners has successfully represented Thanulux Public Company Limited (“TNL”), the biggest market leader in the manufacturing and sale of ready-made clothes and leather goods in Thailand, on the listed company’s major restructuring and expansion of its investment with a highly significant total value of THB 8.8 billion ...
Shepherd and Wedderburn would like to say thank you to our clients for providing valued and insightful feedback to Chambers and Partners High Net Worth Guide, which has awarded a Band 1 ranking to our private wealth and tax team in Glasgow and Edinburgh. This the first time our team in the central belt has been awarded the guide’s highest ranking ...
Kudun and Partners represented Thammasat University with the preparation of the licensing agreement with Antitoxin GmbH, a German company founded in 1966 and specializes in the development of certified blood typing reagents for automated and manual applications ...
On 25 October 2021, the Thai Cabinet approved in principle the national Electronic Transactions Development Agency’s (“ETDA”) release of its Royal Decree on Supervision of Digital Platform Services Required to be Notified (“DPRD”) under the auspices of the Electronic Transactions Act B.E. 2544 (2001). The Decree requires that the ETDA be notified by business operators intending to provide digital platform services to consumers in Thailand ...
Following the abolition of the requirement to pay personal income tax on capital gains from cryptocurrency and digital asset trading on authorized digital asset exchanges in March 2022, the Thai Government has further eased tax rules by suspending the requirement to pay 7% value-added tax (“VAT”) on income derived from cryptocurrency and digital token trading until the end of 2023 ...
On December 8, 2022, the Thailand Board of Investment (the “BOI”) issued 17 announcements (Announcement No. 8/2565 to No. 24/2565) aimed at developing a new economic model as part of its investment promotion strategy for the next five years (2023 – 2027) in accordance with the National Economic and Social Development Plan (Thailand 4.0). All announcements went into effect at the beginning of January 3, 2023 ...
On 10 February 2021, the Royal Thai Government Gazette announced the Act Amending Revenue Code No.53 (the “Act”). This Act stipulates that overseas electronic service providers and online platforms must now register for and pay VAT on electronic services, delivered over the internet or other electronic networks (“Electronic Services”) supplied to non-VAT registered consumers in Thailand. This VAT applies to such transactions from 1 September 2021 onward ...
On 14 September 2021, the Thai cabinet passed a resolution (“Cabinet Resolution”) proposed by the Centre for Economic Situation Administration (“CESA”) to incentivize foreign investment in Thailand through the issuance of new visa, tax, and foreign land ownership incentives. The CESA particularly aims to attract high net worth foreign nationals, who wish to invest in land and buildings, and who can meet these minimum qualifications: 1 ...
28 January 2021 saw the release of a Notification Concerning Guidelines for the Identification and Verification of Customers and Ultimate Beneficial Owners (“AMLO Notification”) by the Anti-Money Laundering Office (“AMLO”) ...
The Tourism Authority of Thailand (“TAT”) announced via the Royal Thai Government Gazette on 30 October 2021 that as of 1 November 2021, earlier COVID-19-related restrictions would be lifted in the case of four designated ‘Blue Zone’ provinces: Bangkok, Krabi, Phang-Nga, and Phuket ...
Background On 23 May 2022, the latest amendment to the Public Limited Companies Act (No. 4), B.E. 2565 (2022) (the “PLC Amendment”) was published in the Government Gazette and it became effective on May 24, 2022. The PLC Amendment aims to facilitate public limited companies by allowing greater use of electronic communications in their business operations ...
On 1 September 2020, the Thai Securities and Exchange Commission (“SEC”)’s new regulations regarding the advertisements of digital asset business operators became effective. Prior to the issuance, the SEC observed that digital asset business operators heavily advertised their digital asset services on various platforms, such as digital media and billboards ...
This article was first published in AmCham Thailand T-AB Magazine (March 2022 Issue): https://www.amchamthailand.com/t-ab-magazine/ After nearly two decades in the making, the Personal Data Protection Act B.E. 2561 (“PDPA“) was published on May 27, 2019. Ostensibly inspired by the EU General Data Protection Regulation, the PDPA was slated to go fully effective in June 2022 following a two-year delay due to COVID-19 outbreak ...
According to an anonymous source, a ‘Centre for Economic Situation Administration’ (“CESA”) meeting chaired by Prime Minister Gen Prayut Chan-o-cha was held on Friday 4 June that approved (in-principle) a set of proposed stimulus measures aimed at encouraging wealthy expatriates to Thailand ...
In the midst of a new wave of COVID-19 infections, the Cabinet of Thailand approved the draft of a new regulation on March 1, 2022, referred as the Draft Announcement of the Eastern Economic Corridor Policy Committee (“EEPC”) Re: Incentives for Business Operator in the Promotion Zone for Specific Industries B.E … ...
On September 14, 2022, the Parliament approved the draft of the Act Amending the Thai Civil and Commercial Code (the “Amendment Act”) covering Title XXII on Partnerships and Limited Companies. Under this Amendment Act, a new M&A scheme and amended corporate governance requirements have been introduced for limited companies ...
On 23 November 2021 The Thai Cabinet passed a resolution permitting the amendment of Ministerial Regulation No. 13 (the “Regulation”) under the Exchange Control Act (1942) which relaxes a lot of the rules on cross-border transactions, online activities and e-commerce matters. The amendments, among other things, includes: Allowing permitted persons (business operators) to accept foreign currency via sources other than bank notes (i.e ...
