If your company has been doing business in Thailand, you might already be aware of the additional corporate tax reporting requirement for the accounting period for the 2019 fiscal year (FY2019), starting from January 1, 2019. Under the new requirements, companies with income of at least THB 200 million that transacted with related parties are now required to file a transfer pricing disclosure form with the Revenue Department (RD) upon filing the annual corporate income tax return, called a PND.50. This new two-page form is the Transfer Pricing Disclosure Form.

Loi Krathong is one of the most popular festivals in Thailand, taking place across the country every year in November, in which people gather at night to release elaborately decorated candle-floats called krathong into bodies of water. Although normally a joyful occasion, an incident during 2019’s Loi Krathong unexpectedly brought copyright infringement to the fore.    

On September 30, 2019, the Indonesian president, through an initiative of the Ministry of Education and Culture, issued Presidential Regulation No. 63 of 2019 regarding the Use of the Indonesian Language (PR 63). This regulation is the implementing rule of Law No. 24 of 2009 regarding National Flag, Language, Emblem, and National Anthem.     

As both China’s Belt and Road Initiative and the US-China trade war continue to impact the decisions of investors around the world, Southeast Asia has witnessed exponential growth in its cross-border investment and international trade with China. In recent years, and most especially in recent months, ASEAN-bloc countries have stepped up to present a more stable, sheltered option for investors looking to operate internationally.   

New TCC Notification for Franchise Businesses   On December 6, 2019, the Trade Competition Commission (TCC) promulgated another notification in relation to the new Trade Competition Act B.E. 2560 (2017) (TCA) in the Government Gazette. The notification came into force 60 days after its publication. Issued under the TCA, it addresses certain nuances of franchise businesses’ legislative implications.      

The competition law regime in Thailand has recently undergone a number of significant changes and promising developments, starting with the implementation of the Trade Competition Act B.E. 2560 (2017) (TCA) on October 5, 2017.    In 2018, the Trade Competition Commission (TCC) passed major guidelines that clarified the criteria for considering fundamental offenses under the TCA (i.e., abuse of dominant position, hardcore cartels, non-hardcore cartels, and unfair trade practices), as well as the merger control regime under the TCA.   

Tilleke & Gibbins has contributed to the 2020 edition of the Practical Law Distribution and Marketing of Drugs Global Guide, a publication covering issues related to the distribution and marketing of drugs across 28 different jurisdictions.