THANATHIP & PARTNERS
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MOC Offers Discounts on Fees for Registration of Partnerships and Limited Companies
January 2021
In December 2020, the Ministry of Commerce (the “MOC”) issued the Ministerial Regulation
Prescribing Fees, Reduction in Fees and Fee Exemptions for Registration, Document
Inspection, Certification of Documents and Other Fees Relating to Partnerships and Limited
Companies B.E. 2563 (2020) which offers 50 per cent discount off the registration fees for
partnerships and limited companies conducted via the MOC’s e-registration system from 1
January 2021 to 31 December 2023 purposely to encourage the registration through eregistration
system in order to transform governmental filings into the digital era. Such
discount is a boost from the previous ministerial regulation in 2018 which offered a lower
discount rate at 30 per cent.
New Criteria on Default Interest and Application of Debt Repayment Proceeds
December 2020
In October 2020, the Bank of Thailand (the “BOT”) issued its Notification No. SorGorSor2.
9/2563 regarding Default Interest Rate Calculation and Application of Repayment Proceeds (the
“Notification”) setting out new criteria on default interest and application of debt repayment
proceeds for compliance by certain financial service providers1 (the “Financial Service
Providers”).
Delayed Enforcement of the PDPA
September 2020
The Personal Data Protection Act B.E. 2562 (A.D. 2019) (the “PDPA”) was published in the Royal Gazette on 27 May 2019 as the main legislation governing personal data protection in Thailand. Similar to the General Data Protection Regulation (GDPR), the PDPA imposes a number of significant obligations on persons involving in the process of collecting,
Land and Building Tax
September 2020
The Land and Building Tax Act B.E. 2562 (the “LBTA”) was promulgated on 12 March 2019 and became effective on 1 January 2020 replacing the predecessors, including the House and Land Tax Act B.E. 2475, the Land Development Tax Act B.E. 2508 and related regulations with an aim at improving an efficiency on tax collection.
CCC Proposed Amendments
August 2020
On 23 June 2020, the Cabinet approved the amendments to certain provisions of the Civil and Commercial Code (CCC) with an aim to increase flexibility and improve efficiency and competition of doing business in Thailand. The proposed amendment is currently being proposed for consideration by the National Assembly for approval and enactment.
Agenda for a shareholders' meeting of listed company
August 2020
Pursuant to Section 89/28 of the Securities and Exchange Act B.E. 2535 (1992) (as amended), a shareholder or shareholders who hold shares and have a voting right amounting to not less than five per cent of the total number of the voting right of the company may submit a written proposal in order to request the board of directors to include such proposal as an agenda of the shareholders’ meeting.