Thailand Legal & Tax Updates

On 8 November 2022, the Act on the Amendment of the Civil and Commercial Code (No.23) B.E.2565 (A.D.2022) was announced on the Royal Gazette. This amendment is summarized as follows: To reduce the number of minimum shareholders and promoters from three persons to TWO persons (Section 1097 and 1237(4)); To reduce the validity period of...

Article by Anne Coulon, Regional Legal Adviser of DFDL A new specialised arbitration institution, the Thailand Court of Arbitration for Sport (“TCAS”), was set up in early October 2022 in Thailand. The creation of the TCAS was initiated by the Thailand Arbitration Center (“THAC”) in cooperation with the Sports Authority of Thailand (“SAT”) to provide services for...

On 17 August 2022, the Trade Competition Commission of Thailand (“TCCT”) issued the Notification of TCCT on Guidelines for Determining Fair Trade Practices Relating to Provision of Credit Terms for Small and Mediums Enterprises (“SMEs”) being Sellers or Service Providers (No.2) (“Notification”) which came into effect on 16 September 2022. This Notification has tightened the...

On 1 September 2020, the Thai Securities and Exchange Commission (“SEC”)’s new regulations regarding the advertisements of digital asset business operators became effective. Prior to the issuance, the SEC observed that digital asset business operators heavily advertised their digital asset services on various platforms, such as digital media and billboards. Many of these advertisements were...

Article by Anne Coulon, Regional Legal Adviser of DFDL, and Pisut Rakwong, Founder of Pisut and Partners. DFDL is pleased to announce that an article co-authored by Anne Coulon (Regional Legal Adviser – Consultant) and Pisut Rakwong (Founder, Pisut and Partners) has been published in the August issue of T-AB Magazine. The article, “Interim Injunctions...

In January 2022, Thailand’s Trade Competition Commission (“TCC”) issued three merger decisions that provide important guidance on the application of Thailand’s merger regime. Pursuant to Section 51 of the Trade Competition Act B.E. 2560 (2017) (“TCA”), a business operator who carries out a business merger which may result in a significant reduction of competition in...

Article by Anne Coulon, Regional Legal Adviser of DFDL, and Pisut Rakwong, Founder of Pisut and Partners. When a dispute arises and arbitration proceedings loom, parties often need to obtain emergency relief via an injunction or an interim measure. Thailand is a party to the UNCITRAL Model Law on International Commercial Arbitration, and the country’s main arbitration...

On 20 June 2022, the Personal Data Protection Committee (“PDPC”) enacted subordinate laws complementing the data protection obligations of Data Controllers and Data Processors pursuant to the Thai Personal Data Protection Act (“PDPA”). This article highlights the following notifications: Notification of the Personal Data Protection Committee Re: Criteria for Preparation and Maintenance of Records of Personal...

On March 31 of this year, Thailand submitted to the Organization for Economic Cooperation and Development (“OECD“) its notification of ratification of the Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (Convention or MLI).  This Convention will take effect from July 1, 2022, and will have far-reaching and potentially substantial implications...

Article by Pisut Rakwong, Founder of Pisut and Partners, and Anne Coulon, Regional Legal Adviser of DFDL  An injunction is a Court order that enjoins a party either to perform a specific act, or to refrain from doing the same. ‘Interlocutory’, ‘Temporary’ or ‘Interim’ injunctions are used interchangeably. An injunction can serve as a guarantee...