Business Reforms in Thailand


Roberto Scaramuzza - Linkedin profile

Roberto Scaramuzza – Linkedin profile

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positive=Doing Business reform making it easier to do business.

negative=Doing Business reform making it more difficult to do business.

DB2014:

positive Paying Taxes:Thailand made paying taxes less costly for companies by reducing employers’ social security contribution rate.

DB2013:

positive Starting a Business:Thailand made starting a business easier by allowing the registrar at the Department of Business Development to receive the company’s work regulations.
positive Paying Taxes:Thailand made paying taxes less costly for companies by reducing the profit tax rate.

DB2012:

positive Starting a Business:Thailand made starting a business easier by introducing a one-stop shop.
negative Registering Property:Thailand made registering property more expensive by increasing the registration fee.

DB2011:

negative Registering Property:Thailand made registering property more costly by repealing a 2-year temporary tax reduction for property transfers.
positive Paying Taxes:Thailand temporarily lowered taxes on business by reducing its specific business tax for 12 months.

DB2010:

positive Starting a Business:Thailand eased business start up process by merging the registration of memorandum and the application for registration of establishment of company

DB2009:

positive Registering Property:Thailand reduced two taxes, the transfer fee from 2% to 0.01%, and the Specific Business Tax (SBT) from 3.3% to 0.11%. The cost reductions are provisional and valid for one year from March 2008 to allow the Thai government to assess the results of the reform in April 2009. As a result, the cost to transfer a property in Thailand has decreased from 6.3% to 1.13% of property value.
positive Protecting Investors:Thailand strengthened investor protections by increasing director duties and remedies in case of related-party transactions.
positive Paying Taxes:The government has facilitated e-payments and online filing. Expected tax changes in 2008 include the exemption of companies with taxable income not exceeding THB 1.2 million from corporate income tax and concessionary 25% rates for newly listed companies. The special business tax on property transactions is reduced from 3% to 0.1% and for property transfer and mortgage fees, reduced to 0.01%.
positive Trading Across Borders:Upgrading the EDI system led to a decrease in time and documents for export and import.

DB2008:

positive Trading Across Borders:Thailand made trading across borders speedier by implementing a e-Customs system, allowing customs declarations to be submitted electronically and data to be simultaneously verified by different agencies.

 

 

 

 

 

 

 

 

 

 

 

 

 

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