Thailand Unveils 7 Flagship Initiatives to Reshape the Digital Landscape
Mahanakorn Partners Group
by Luca
1w ago
Minister of Digital Economy and Society, Mr. Praesert Choodigitan, has embarked on a monumental transformation journey, elevating the nation through the implementation of seven flagship initiatives that promise to revolutionize both the economic and social landscapes. Mr. Praesert Choodigitan, also known as DE Minister, has outlined the ministry’s ambitious agenda for the year, focusing on seven core areas of development: 1.   Cloud First Policy: The DE Ministry is spearheading the adoption of cloud-based systems as the primary infrastructure, aiming to establish Thailand as a Cloud ..read more
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Thailand Extends Tax Relief Measures to Foster Digital Asset Trading
Mahanakorn Partners Group
by Luca
1w ago
Cabinet Preliminarily Approves Extended Tax Relief Period to Bolster Thailand’s Digital Asset Hub Status In a progressive stride towards solidifying Thailand’s position as a Digital Asset Hub and ensuring fair treatment for local digital asset business operators, the Cabinet has granted preliminary approval to extend the standard tax relief period for digital asset trading. This bold move, as outlined in the draft Royal Decree effective January 1, 2024, introduces significant measures aimed at streamlining tax payments for investors engaged in digital asset transactions. Key Provisions of Reve ..read more
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Department of Employment Imposes New Capital Requirements for Employing Foreign Workers
Mahanakorn Partners Group
by Luca
2w ago
In a recent announcement, the Department of Employment has introduced new regulations concerning the registration capital necessary for companies seeking authorization to employ foreign workers in Thailand. This directive, enacted under the authority granted by Article 27(1) of the Management of Foreign Workers Employment Act B.E. 2560, signifies a pivotal development in the country’s labor management policies. Effective from the date of its publication in the Royal Gazette, the announcement stipulates that entities intending to employ foreign workers must be registered as either limited compa ..read more
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Thailand’s Strategic Move: Electric Vehicle Incentives Unveiled for 2024-2027
Mahanakorn Partners Group
by Luca
2w ago
In a significant leap towards sustainable mobility, the Thai cabinet has given its official nod to a comprehensive set of Electric Vehicle (EV) incentives, charting a course from 2024 to 2027. The approval, granted on December 19, 2023, marks a pivotal moment in Thailand’s commitment to fostering the adoption and local manufacturing of EVs. These measures, set to be implemented from January 1, 2024, are designed to invigorate the electric vehicle ecosystem, bolstering environmental sustainability and advancing Thailand’s position in the global green revolution. Key Incentives for EVs The corne ..read more
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Navigating the Regulatory Landscape: Licensing for Electric Vehicle Charging Stations in Thailand
Mahanakorn Partners Group
by Luca
3w ago
In Thailand, the pursuit of sustainable mobility through the establishment of electric vehicle (EV) charging stations is gaining momentum. However, for business operators looking to engage in this burgeoning sector, adherence to regulatory protocols is imperative. As per the Energy Industry Act B.E. 2550 (A.D. 2007), obtaining a license for energy industry operation from the Energy Regulatory Commission is a prerequisite for operating an EV charging station. Categories of EV Charging Stations: The licensing process for EV charging stations is categorized into two distinct groups, each with spe ..read more
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Thai Government Sets Clear Conditions to Safeguard State Procurement in FTI-EU Negotiations
Mahanakorn Partners Group
by Luca
1M ago
On January 16, 2024, the Thai Cabinet outlined five conditions to regulate state procurement projects exceeding one billion Baht, safeguarding national industries. This decision comes ahead of the second round of negotiations between Thailand and the European Union (EU) scheduled for January 22-26, 2024. During a press briefing at the Government House, Chaiwat Wachirakun, the spokesperson for the Prime Minister’s Office, announced the Cabinet’s approval of the Ministry of Higher Education, Science, Research, and Innovation’s (MHESI) proposal. The proposal focuses on policy measures concerning ..read more
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Thailand Implements Stricter Guidelines for Hydrochlorofluorocarbons (HFCs) Usage
Mahanakorn Partners Group
by Luca
1M ago
On December 26, 2023, the Royal Gazette issued a proclamation outlining crucial guidelines for permitting the use of Hydrochlorofluorocarbons (HFCs) in Thailand. Simultaneously, another publication detailed the qualifications for applicants seeking import licenses for hazardous substances, with a specific focus on criteria for HFCs. These announcements, highlighted in the Royal Gazette, provide comprehensive details ranging from the qualifications of import license applicants to the criteria and conditions for the allocation of import quantities, all under the jurisdiction of the Department of ..read more
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Navigating Enhanced Data Protection: In-Depth Insights into Amendments to the PDPA
Mahanakorn Partners Group
by Luca
1M ago
Effective March 24, 2024, the recent amendments made by the Personal Data Protection Committee to Sections 28 and 29 of the Personal Data Protection Act introduce nuanced changes that merit a closer examination. Let’s delve into the specifics of these amendments for a comprehensive understanding. Section 28: Elevating Data Protection Standards for International Transfers Section 28 now places a stronger emphasis on safeguarding personal data sent abroad. The receiving destination country or organization must not only adhere to adequate data protection standards but also align with Thai laws. T ..read more
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Revised Production Processes for Duty-Free and Free Trade Zones in Thailand
Mahanakorn Partners Group
by Luca
1M ago
In a recent announcement, effective from December 28, 2023, the Office of Industrial Economics has provided crucial updates to the production processes essential for goods in duty-free zones, as per the law on customs or in free trade zones under the jurisdiction of the Industrial Estate Authority of Thailand. This announcement, dated February 4, 2022, includes amendments aimed at refining the criteria for production processes integral to customs duty-free zones or free trade zones. Background: The need for these amendments arises from the continuous evolution of industries and the dynamic lan ..read more
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Extension of Realty Transfer Fee Reduction Measures
Mahanakorn Partners Group
by Luca
1M ago
In a noteworthy development, the Thai government has announced the extension of measures aimed at reducing registration fees for realty transfers, including residences, single houses, semi-detached houses, row houses, commercial buildings, land, and apartments or condos not exceeding 3 million baht. These measures, initially introduced through two ministerial regulations in 2023, have been renewed and are now effective until December 31, 2024. The first ministerial regulation, implemented in January 2023, focused on determining fees for the registration of rights and juristic acts related to t ..read more
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