Trade Alert Vol. 6 Issue 8: ASEAN-CHINA FREE TRADE AGREEMENT (“ACFTA”) UPGRADING PROTOCOL AND REVISED PSR TO BE IMPLEMENT FROM 1 AUGUST 2019 ONWARDS

The Customs Department and Department of Foreign Trade (“DFT”) revealed that the ACFTA members agreed to implement the ACFTA upgrading protocol and Revised Product Specification Rules (PSR) from 1 August 2019 onwards. At the present, the Thai Customs is in process of revising Customs Notification to support the implementation of upgraded ACFTA. Read more…

Trade Alert Vol. 6 Issue 7: MEASURE FOR INVESTMENT PROMOTION OF GRASSROOTS ECONOMY

In order to promote local investments and encourage potential entrepreneurs and support local organizations’ activities in agribusiness, agro-processing industry, light industry, and community tourism, the BOI has announced the measure regarding investment promotion of grassroots economy by virtue of section 18 in conjunction with section 31 of Investment Promotion Act, B.E. 2560 with the following details: Read more…

Trade Alert Vol. 6 Issue 6: EFFECTIVENESS OF NON-RESTRICTED SERVICE BUSINESSES FOR FOREIGN COMPANIES

The Ministerial Regulation Prescribing Service Businesses Not Subject to Application for Foreign Business Permission (No.4) B.E. 2562 (2019) has provided three service businesses, which provide to the juristic persons that have a relationship with the service provider, to be liberalized are: Read more…

Trade Alert Vol. 6 Issue 5: LIBERALIZATION FOR RESTRICTED SERVICE BUSINESSES LIST UNDER THE FOREIGN BUSINESS ACT, 2542 B.E. (1999) (“FBA”)

On 14 May 2019, the Cabinet approved, in principle, a draft Ministerial Regulations regarding the restricted service businesses list as proposed by the Department of Business Development, Ministry of Commerce (MOC) in order to decrease cost of operations and build up the cooperation among the affiliated and group companies to establishing an effective standard of management. Read more…

Trade Alert Vol. 6 Issue 4: CUSTOMS EXTENDS VOLUNTARY TAX SCHEME FOR OPERATORS

On 7 June 2019, the Customs Department issued an announcement to extend period of voluntary tax scheme at One Stop Service from 15 May 2019 to 30 April 2020 in order to motivate operators who find themselves paying incorrect taxes to completely pay for tax shortage. Read more…

Trade Alert Vol. 6 Issue 3: THE BOARD OF INVESTMENT (“BOI”) HAS APPROVED THE INVESTMENT PROMOTION FOR BUSINESS RELATED TO RAIL SYSTEM INDUSTRY TO DEVELOP THAILAND RAIL SYSTEM

At present, the Government of Thailand has a plan to build more than 6,000 kilometers of the rail network nationwide. This includes a dual-track train, electric train, and high-speed train with the aims to address the increasing future demand for rail networks and to reduce dependence on imports of rail systems. Read more…

Trade Alert Vol. 6 Issue 2: THAI INDUSTRIAL OPERATORS ARE FREE FROM RENEWING THEIR FACTORY LICENSES UNDER THE ENACTMENT OF NEW FACTORY ACT

The National Legislative Assembly approved the new drafts of Factory Act to offer more convenience and agility as for the factory expansion. These new acts were issued in the Government Gazette on 30 April 2019 known as “Factory Act (No.2) B.E. 2562 (2019)” and “Factory Act (No.3 ) B.E. 2562 (2019). Read more…

Trade Alert Vol. 6 Issue 1: EXCISE DEPARTMENT TO COLLECT NEW EXCISE TAXES ON MOTORCYCLES BASED ON CO2 EMISSION

On 7 May 2019 the Cabinet has granted a resolution to revise excise tax structure for motorcycles, as proposed by the Excise Department, which aimed to boost excise tax revenues and reduce PM 2.5 pollution level in line with the Thai government policy. Read more…

Trade Alert Vol. 5 Issue 16 : BOI INTRODUCES THE IBC SCHEMETO REPLACE IHQ AND ITC ACTIVITIES

According to the Announcement of the Board of Investment (“BOI”) No. Ngor. 1/2018, the existing investment promotions for the International Headquarter (“IHQ”) and International Trading Centers (“ITC”) activities have officially been canceled Read more…

Trade Alert Vol. 5 Issue 15: THAILAND INTRODUCES THE INTERNATIONAL BUSINESS CENTER (“IBC”) IN RESPONSE TO THE HARMFUL TAX PRACTICES.

On 10 October 2018, the Thai Cabinet has approved the cancellation of existing tax incentivized regional and international headquarters regimes. Read more…

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