October 2021 - Thailandlawoffice

Changing a Company Limited’s Name in Thailand – A Legal Overview

Posted on 21 Oct 202121 Oct 2021 by Ryan Crowley

After a company limited is legally formed, its shareholders or directors may wish to change its name for any number of reasons such as for branding purposes, to reflect a change in ownership or because the name is unsuitable or outdated. Before taking such a step, the shareholders and directors of a company should be mindful of several important matters including the process to implement such change as well as other tasks that will need to be done following the name change process. This article shall provide a general overview of the name change process (according to Thai law) as well as other relevant matters which the company’s key stakeholders should consider. Company Limited Name Change Process For a normal company limited with no specific name change restrictions in its Articles of Association, the process to amend its name is […]

Tax Newsletter OCTOBER 2021

Posted on 21 Oct 202127 Jun 2023 by Napat Wonglimpiyarat

DLO’S Tax Newsletter Issue 123 October 2021 Tax Law Update 1. CIT exemption in the amount of the expenses paid for the electronic system for preparing, receiving data, remitting taxes system and the expenses which is a service fee paid to the service providers for preparing, delivering electronic data, and remitting taxes 2. Extension of the VAT filing period for the electronic services provided from foreign country 3. Income tax exemption to the Stock Exchange of Thailand for a subsidy income received from the Thailand Capital Market Development Fund 4. Income tax and VAT Exemption to the persons, company and juristic partnership for the money or assets donated for the Prime Minister’s Office in some cases Tax News 1. SBT exemption to the juristic persons for an income of compensation received according to the real estate expropriation law and stamp […]

Knowledge Tips on the Emergency Decree on Digital Asset Businesses B.E. 2561 (2018)

Posted on 19 Oct 202119 Oct 2021 by Ryan Crowley

Currently, cryptocurrencies and digital tokens are being used as a fundraising tool through digital token offerings. As a medium of exchange, they can also be traded in cryptocurrency and digital token exchanges. In Thailand, the Emergency Decree on Digital Asset Businesses B.E. 2561 (2018) (the ‘Emergency Decree”) was passed to provide a legal mechanism to control this emerging sector of the economy given its significant growth and the risks it posed to the public from money laundering and fraud. This article shall provide a brief overview of the Emergency Decree and some key matters it covers. According to Section 3 of the Emergency Decree the terms ‘cryptocurrency’ and ‘digital token’ are defined as follows: ‘Cryptocurrency’ means “an electronic data unit created on an electronic system or network for the purpose of being used as a medium of exchange for the […]