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Trade Competition Act B.E. 2560 (2017)
October 2017
By Nat Boonjunwetvat
The newly enacted Trade Competition Act (B.E. 2560) (2017) (the “TCA”) was published in the royal gazette on 7 July 2017 and came into effect on 5 October 2017. Amongst other notable changes, the TCA extends the authority of the Office of Trade Competition Commission (the “OTCC”) as an independent authority to regulate and promote competition and fair trade and introduces new merger control regime as follows:
- Pre-Merger Approval - any merger which would result in a ‘monopoly’ or ‘market dominance’ requires a prior approval from the OTCC; and
- Post-Merger Notification - any merger which would result in a ‘substantial reduction of market competition’ shall be notified to the OTCC within seven days from the date of the merger.
This document is solely intended to provide an update on recent development in Thailand legislation and is not purported to provide a legal opinion, nor a legal advice to any person.
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,