Thailand
September 4, 2024
The Securities and Exchange Commission (the “SEC”) has recently approved amendments to the regulatory framework for ready-to-use utility tokens. These changes aim to better align regulations with the distinct characteristics, risks, and uses of each token type. The amendments are designed to ensure appropriate protection for users without...
|
Thailand
September 4, 2024
The Securities and Exchange Commission (the “SEC”) has updated the governance standards for digital asset business operators to establish robust corporate governance and operational oversight mechanisms that address the unique characteristics and risks associated with their business activities. Additionally, the SEC has revised the guidelines...
|
Thailand
August 30, 2024
Since the Personal Data Protection Act, B.E. 2562 (2019) (PDPA) became fully effective in 2022, the Personal Data Protection Committee (PDPC) has indicated their intention to spread knowledge and awareness about the law, encouraging compliance across all sectors. Despite receiving over 660 complaints by June 2024, the PDPC has not been imposing...
|
Thailand
August 14, 2024
The recent worldwide IT outage in July 2024 sent shockwaves through the global business community, serving as an important reminder of the vulnerabilities inherent in our interconnected digital world and highlighting the fundamental importance of IT resilience.
|
Thailand
August 14, 2024
The Office of the Securities and Exchange Commission (“SEC”) has recently sought a public hearing on the draft bill amending the Royal Decree on Digital Asset Business Operation, B.E. 2561 (2018) (“Draft Bill”) to rules regarding the use of digital assets for payments and the participation of digital asset businesses in the Bank of Thailand's...
|
Thailand
July 9, 2024
The Electronic Transactions Development Agency (ETDA) issued a notification on 11 June 2024 regarding a new manual for overseeing advertising on digital platform services. The notification aims to prevent deception, illegal product or service offerings, and other unlawful activities related to advertising on digital platforms, which have become...
|
Thailand
July 3, 2024
In recent years, news and headlines have increasingly highlighted the surge in cyber threats and crimes. Organizations and individuals in Thailand have been targeted by a variety of cyber threats, including ransomware attacks, system hacks, spam calls, and phishing scams. These threats are often linked to data leaks or illegal sales of personal...
|
Thailand
July 2, 2024
The Securities and Exchange Commission of Thailand (the “SEC”) has recently issued four new regulations to govern two key aspects of Real Estate Investment Trusts (REITs) in Thailand: (1) the liquidation process of a REIT and (2) the deposit in lieu of performance of obligation.
|
Thailand
May 2, 2024
Chandler MHM announced the hire of Doungporn Prasertsomsuk as a partner and co-head of its capital markets practice.
|
Thailand
March 20, 2024
We set out in our newsletter our observations about blockchain technology developments globally and prospects for such technologies in Thailand.
|
Thailand
March 18, 2024
To enhance investor confidence and fortify the Thai capital markets, the Stock Exchange of Thailand (SET) has recently implemented a comprehensive revamp of its listing regulations, set to take effect on 1 January 2025.
|
Thailand
March 18, 2024
The Stock Exchange of Thailand (“SET”) has revised its regulation with regard to C (Caution) sign posting, which will come into force from 25 March 2024 onwards.
|
Thailand
March 17, 2024
Most countries now have adopted varying degrees of FDI restrictions, depending on their economy’s competitiveness, and particular concerns over national security.
|
Thailand
March 14, 2024
The Department of Climate Change and Environment ("DCCE") of the Ministry of National Resources and Environment has made progress with the draft Climate Change Act ("Bill"), as public hearings in respect of the Bill are organized in various parts of the country and will conclude soon.
|
Thailand
March 14, 2024
In an effort to foster environmentally conscious investments in Thailand, the Securities and Exchange Commission of Thailand (“SEC”) has introduced principles governing the establishment of investment trusts dedicated to forestry and tree-planting initiatives – the Green Investment Trusts.
|
Thailand
March 11, 2024
The draft Waste Management and Resource Circulation act ("Bill") lays a foundation for waste management and resource circulation, mandating contributions from the government, product producers, and the general public to foster Thailand's green and circular economy.
|
Thailand
March 11, 2024
Thailand is gearing up for a significant change in its environmental legislation, with the recent draft ‘Pollutant Release and Transfer Registers Act’ (the “PRTR Bill”) brought into focus. This draft has been open for hearing until 21 March 2024.
|
Thailand
February 26, 2024
The potential for market participants to commence sales of electricity on a P2P basis through the major utilities’ grids for the first time marks a watershed moment in Thailand’s electricity industry.
|
Thailand
February 12, 2024
2023 was a year of political and economic uncertainty in Thailand, especially for the Thai stock market, when a number of companies in financial distress aggressively sought rescue by engaging in a formal court-supervised restructuring process. This trend is expected to continue in 2024.
|
Thailand
February 11, 2024
Thailand’s has adopted a progressive approach to digital assets and investment tokens, with the aim of creating a favorable trading and transfer environment. A recent Royal Decree laid the foundation for tax relief measures in the digital asset space.
|
Thailand
January 29, 2024
In order to ensure that initial coin offerings regulations provide adequate protection and safeguard the rights of investors, the Thai Securities and Exchange Commission is now inviting public feedback on the principles and related draft regulations.
|
Thailand
January 28, 2024
The Energy Regulatory Commission (the ERC) has officially introduced the Announcement of the ERC re: Criteria for Determining Utility Green Tariff (“UGT”) B.E. 2566 (2023), which was published in the Royal Gazette on January 8, 2024 with an effective date of January 9, 2024.
|
Thailand
January 21, 2024
Due to the rapid developments in digital assets in the Thai market, the Securities and Exchange Commission of Thailand from time-to-time updates and amends its regulations on digital assets in order to monitor and support the operation of digital asset businesses in Thailand.
|
Thailand
January 4, 2024
On 25 December 2023, the Personal Data Protection Committee published two notifications in the Royal Gazette regarding cross-border transfer. These two notifications are effective from 24 March 2024.
|
Thailand
December 25, 2023
The Securities and Exchange Commission of Thailand amended regulations governing Real Estate Investment Trusts (REITS) on a range of matters effective from 1 February 2024.
|
Thailand
December 17, 2023
A new regulation regarding application of registration, acceptance of registration and deregistration of aircraft issued by the Civil Aviation Authority of Thailand (“CAAT”) became effective from 15 December 2023.
|
Thailand
December 7, 2023
In response to the pressing concern of air quality, notably the significant impact of PM2.5 on daily life and public health, the Thai government has worked in collaboration with, among others, academics and civil society organizations to address the air pollution crisis.
|
Thailand
December 6, 2023
The Thai Securities and Exchange Commission (SEC) has published a set of new regulations on debt-liked and infra-backed ICOs.
|
Thailand
November 30, 2023
A 2-month extension of the 2024 land and building tax deadline was introduced to reduce economic hardship post Covid-19.
|
Thailand
November 20, 2023
There may be circumstances where an issuer seeks to enhance the security of their instruments by adding collateral post-issuance in order to provide further assurance to investors or increasing liquidity in the secondary market.
|
Thailand
September 21, 2023
A new notification sets out the key criteria for when a Data Controller or Data Processor needs to appoint a DPO. This Notification focuses only on cases where core activities consist of processing operations, which require regular or systematic monitoring of personal data on a large scale.
|
Thailand
September 21, 2023
Currently, the Thailand Penal Code does not explicitly have criteria for holding companies and other types of juristic persons criminally liable separately from natural persons, unless provided otherwise in specific laws, such as the Anti-Money Laundering Act B.E. 2542.
|
Thailand
September 17, 2023
A resident of Thailand would have the obligation to assess income from foreign sources as a part of assessable income of the tax year (i.e., calendar year starting from 1 January to 31 December of such year) which it is brought into Thailand. This New Order will be effective on 1 January 2024.
|
Thailand
August 31, 2023
In the past few years, the demand for digital infrastructure, including data storage and managed hosting services, has significantly increased. In this newsletter, we will discuss key legal issues relating to operating data centers in Thailand.
|
Thailand
August 23, 2023
Originally, pursuant to the Regulation of the Civil Aviation Board No. 97 re: Granting Licensing to Civil Aviation Business: Commercial Air Transport and Aerial Work, the applicant for each license shall comply with the same insurance requirements.
|
Thailand
August 20, 2023
Medical negligence lawsuits involve complex and evolving issues, with characteristics that are quite different from general negligence or tort cases. It is therefore crucial for both healthcare professionals and insurance companies to know what constitutes medical negligence.
|
Thailand
July 11, 2023
One of the common raisons d’etre of anti-trust regulations around the world is to prohibit arrangement between competitors. The most obvious, straight-forward, and effective arrangement is on prices.
|
Thailand
July 4, 2023
Previously, in the custody of their clients’ digital assets, digital asset business operators were prohibited from using their clients’ digital assets to seek benefits for others or for the clients themselves, as well as depositing them with a custodian that intended to lend out the digital assets.
|
Thailand
June 18, 2023
On 19 June 2023, the Office of Trade Competition Commission hosted an online information session on their internal undertakings. The session was centered around cartel enforcement and a prospective leniency program.
|
Thailand
June 12, 2023
There have been significant developments in relation to EVs over the past few months, with several governmental bodies announcing new incentives and policies to complement existing schemes aimed at promoting the use of EV and positioning Thailand as a leading global hub for EV manufacturing.
|
Thailand
June 6, 2023
On 1 June 2023, the royal decree issued under the Revenue Code governing exemptions of taxes and duties No. 763 B.E. 2566 (2023) was launched in accordance with the Thai’s cabinet resolution on incentives for the conversion of the Property Fund for Public Offering (the “PFPO”) to a REIT.
|
Thailand
May 30, 2023
Regulators, investors, and other stakeholders in Thailand are placing an increasing focus on the adoption of Environmental, Social, and Governance (“ESG”) principles across all sectors.
|
Thailand
May 29, 2023
The Electronic Transactions Development Agency has conducted three public hearings on nine draft subordinate laws (the “Draft Sub-laws”) focusing on key areas, such as the criteria to determine numbers of users and requirements regarding terms and conditions of a platform.
|
Thailand
May 28, 2023
New energy solutions emerging due to technological developments and lower costs, as well as practical challenges on the current supervision of the Thai energy sector have created the impetus to update the EIA, which underpins the ERC's supervisory direction.
|
Thailand
May 8, 2023
On 7 March 2023, the Thai government approved an extension of tax privileges under the Thailand Plus Package. According to the approval, qualifying expenses for tax exemptions on a company’s income, which expired on 31 December 2022, will continue for another three years (until 31 December 2025).
|
Thailand
March 16, 2023
Taxonomy serves as a common framework for classifying economic activities enabling corporate sectors, financial institutions, and investors to manage and assess risk, and promote projects and investments that meet sustainability goals.
|
Thailand
March 6, 2023
The Thai Bankruptcy Act B.E. 2483, the main legislation for the rehabilitation framework in Thailand, has not fully and efficiently served key purposes of rehabilitation, amongst other things, expediency and facilitating specific needs for Small and Medium-sized Enterprises (SMEs).
|
Thailand
February 23, 2023
The Securities and Exchange Commission of Thailand has amended the Initial Public Offering (IPO) regulation, which was issued on 11 January 2023 and became effective on 1 February 2023, with respect to the qualifications of a company applying for an IPO.
|
Thailand
February 19, 2023
the Committee on Advertisement under the Consumer Protection Act, B.E. 2522 (1979) (as amended) (the “CPA”) repealed and replaced the notifications concerning puffery (statements of exaggeration) and guidelines for proof under the CPA, and issued a new regulation with enforcement.
|
Thailand
February 6, 2023
To improve energy conservation in buildings across Thailand, in 2020, the Minister of Energy issued the Ministerial Regulation Prescribing Type or Size of Building and Standard, Criteria and Procedure in Designing Building for Energy Conservation B.E. 2563 (2020)
|
Thailand
February 2, 2023
The amendments to the Civil and Commercial Code will come into effect on 7 February 2023, after being published in the Government Gazette on 8 November 2022. One of the key changes pertains to the requirement for publishing notice of a shareholder's meeting.
|
Thailand
February 2, 2023
In order to expedite the efficiency of judicial administration in Thailand and provide a clearer timeframe of court cases, the Act on the Timeframe of Judicial Proceedings ("Act") was enacted on 25 October 2022.
|
Thailand
January 30, 2023
The Thai SEC aims to regulate these utility tokens in order to enhance the protection for investors and has proposed its regulatory approach on these tokens.
|
Thailand
January 26, 2023
On 12 January 2023, the Bank of Thailand (BOT) issued the Virtual Bank Licensing Framework for public hearing as virtual banks, which technically are commercial banks that operate mainly via digital channels, will be a key player to enhance competition within the financial market.
|
Thailand
January 26, 2023
Since 2014, PFPOs may neither be established, nor increase their capital for additional investment. The regulators have encouraged existing players to shift from the PFPO scheme to the REIT scheme by way of conversion.
|
Thailand
January 19, 2023
The Thai Securities and Exchange Commission issued notifications on 15 and 19 December 2022, which became effective on 16 January 2023, requiring digital asset business operators that provide custody of clients’ digital assets to establish and implement a system for managing digital wallets.
|
Thailand
January 5, 2023
The Thailand Board of Investment (“BOI”), one of the government’s channels to assist the achievement of key development programs, has promptly responded to the new economic model; the so called “Thailand 4.0”, which refers to creative and innovative industries.
|
Thailand
December 27, 2022
The Royal Decree on Supervision of Digital Identification Services which Require Operating Licenses ("Royal Decree") focuses on digital verification and authentication services.
|
Thailand
December 27, 2022
The Environmental Act serves as the first well-rounded environmental legislation established in line with common international environmental principles. The Environmental Act has been amended several times to address data changes and the complexity of environmental problems.
|
Thailand
December 25, 2022
The merger control regime in the natural gas and power sectors introduced in 2009 is limited in scope and needs updates to account for the increase in private investment brought on by the energy transition and the growing nuances of business structures.
|
Thailand
December 25, 2022
On December 23, 2022, the Royal Decree on Operation of Digital Platform Services Which Require Notification, issued under the Electronic Transaction Act, B.E. 2544 (2001), was published in the Royal Gazette.
|
Thailand
December 25, 2022
This briefing discusses the new requirements on hire purchase agreements from the Office of the Consumer Protection Board and the Bank of Thailand's plan to regulate hire purchases and the leasing of vehicle businesses.
|
Thailand
December 21, 2022
The draft Independent Workers Protection Act (the "Draft Act") was proposed to guarantee fundamental rights to independent workers for work safety and social security. The Draft Act will also benefit traditionally independent operators.
|
Thailand
December 20, 2022
On November 22, 2022, the Cabinet approved the draft Act on Liability regarding Defective Goods, known as the "Lemon Law." The purpose of this law is to protect consumers from selling defective goods or products.
|
Thailand
December 19, 2022
A new land and building tax collection system was launched in 2019. However, due to the incompletion of the property appraisal system and other relevant databases and the onset of the COVID-19 pandemic, the tax collection system has not been fully implemented.
|
Thailand
December 15, 2022
On November 15, 2022, three notifications of the Director-General of the Department of Business Development, the Ministry of Commerce, in the capacity of the registrar under the PLC Act, were made public in the Government Gazette.
|
Thailand
December 6, 2022
A capital gains tax exemption has been provided to a unitholder of a PE Trust, which invests in specified promoted companies under the S-Curve industries campaign.
|
Thailand
November 29, 2022
Under the government's direction, Thailand's Board of Investment has launched the Long-term Resident visa to attract 'high-potential' individuals from overseas by providing tax and tax exemption benefits.
|
Thailand
May 5, 2021
Due to the current Covid-19 pandemic situation, the Department of Business Development (“DBD”) issued a Notification on 3 May 2021 allowing certain entities which operate their businesses in Thailand to extend the period for the DBD e-filing submission of their audited financial statements.
|
Thailand
December 10, 2020
Thailand’s power sector is in the midst of a transition towards greater reliance on renewable energy sources. One of the key technologies leading this shift is electricity generated from solar photovoltaic (PV) panels, which have become more affordable in recent years.
|
Thailand
December 10, 2020
The Department of Business Development issued a Notification on 2 November 2020 that no longer permits the postponement of shareholders’ meetings to approve financial statements beyond the prescribed deadline (which is four months after the end of their fiscal year.
|
Thailand
December 10, 2020
The Office of Trade Competition Commission (the OTCC) has revised the definition of a ‘Dominant Player’ under Sections 50 and 51 of the Trade Competition Act B.E. 2561 (the Act) to eliminate any ambiguity as to the intent of the law.
|
Thailand
December 10, 2020
Thailand: To bolster transfer pricing regulations and to provide clarification on transfer pricing requirements, two Ministerial Regulations Nos. 369 and 370 were published in the Government Gazette on 16 November 2020.
|
Thailand
April 19, 2020
In this article, we will focus on waste to energy projects (“WTE Project”) operated by project developers using municipal solid waste collected by local administrative organizations as a fuel source.
|
Thailand
April 19, 2020
It is now possible for attendees to attend board of directors and shareholders’ meetings from overseas. In addition, the requirement that one-third of the quorum must physically attend a meeting at the same venue, was removed.
|
