By NPN Legal & Accounting – Your Trusted Partner in Pattaya
NPN Digest
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Thailand is stepping up its efforts toward greater business transparency. The Department of Business Development (DBD) has recently signed a Memorandum of Understanding (MOU) with the Department of Lands, creating a strategic partnership to monitor land ownership by legal entities (companies and partnerships) across the country.
In a significant move towards aligning with international tax practices, the Thai Revenue Department is preparing to draft new legislation that would amend how foreign income remitted to Thailand is taxed. This proposed change is set to impact Thai tax residents, particularly individuals who earn income abroad.