THANATHIP & PARTNERS

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Legal Update
Legal Requirements and Key Considerations for a Merger and Amalgamation in Thailand
January 2025
In 2022, the Thai Civil and Commercial Code (the “CCC”) underwent a significant amendment, introducing the concept of a merger, which allows one merging entity to remain in existence. While this concept may not be new for other jurisdictions, it is a development for Thai private companies and is expected to impact business integration. Although this new concept is not applicable to public companies, we believe it is worthwhile exploring the key business consolidation schemes currently available under the relevant primary corporate laws and the key considerations when deciding to implement a merger and/or amalgamation.
Cross-Border Transfer of Personal Data
January 2024
On 25 December 2023, the Personal Data Protection Commission (the “PDPC”) issued two notifications relating to cross-border transfer of personal data, namely:
New Tax Guideline on Foreign-Sourced Income of Thai Tax Residents
September 2023
The Revenue Department of Thailand has made a radical change to its longstanding principal as regards its treatment of foreign-souced income of an individual “Thai tax resident”.
Amendment to Takeover Regulations to Reduce Burdens and Increase Flexibility
May 2022
With effect from 1 May 2022, the Office of the Securities and Exchange Commission (the “SEC”) has amended takeover regulations with an aim to reducing burdens of private sectors,
Tax Exemption for Startup Fundraising through Venture Capital
March 2022
The Cabinet has approved tax measures to promote fundraising in Startups by providing certain tax benefits for investment, both directly and indirectly through Venture Capital, in Thai Startups that engage in certain industries. As a result of this measure, it is expected that there will be an increase in investment in (i) Thai Startups for approximately Baht 320 billion and (ii) an employment rate by 2066 as well as strengthen our economic growth.
Amendment of Listing Requirements under the Market Capitalisation Test
June 2021
With effect from 19 May 2021, the Stock Exchange of Thailand (the “SET”) has amended the listing criteria in respect of the market capitalisation test with an aim to provide companies in the targeted industries according to the government’s policy under the national strategy an access to funding from Thai capital market through its listing on the SET.