The Association of Southeast Asian Nations (ASEAN)-Australia-New Zealand Free Trade Agreement (FTA) was signed in Hua Hin, Thailand, on February 27 2009, and entered into force on January 1 2010 when eight of the 12 participating countries ratified it (ie Australia, New Zealand, Brunei, Burma, Malaysia, the Philippines, Singapore, and Vietnam). Before this FTA was signed, Australia and New Zealand had an FTA with each other, and each of them had FTAs with Thailand and Singapore.

The proposed new Computer Crimes Act, which will supersede the 2007 Computer Crimes Act, has been introduced in an attempt to fill loopholes in the current legislation.The new draft is aimed at those who perpetrate offenses and who have previously evaded liability. But there are concerns over whether the new law would be overly zealous in handing out harsh punishment to all offending parties, regardless of the severity of the crime involved.

More and more companies are turning to arbitration to resolve complex international disputes. The International Comparative Legal Guide to: International Arbitration 2011 Vietnam Chapter, written by Michael K. Lee and Doan Ngoc Tran of Tilleke & Gibbins, provides information on how to navigate the arbitration landscape in Vietnam.

The property sector in Thailand has seen rapid growth over the last decade, with many Thai and foreign investors purchasing units in condominium projects, for both investment and residential purposes.

This Japanese-language Guide to Doing Business in Thailand was prepared by Tilleke & Gibbins in collaboration with Nishimura & Asahi, the Lex Mundi member firm for Japan. Written for potential Japanese investors in Thailand, the guide provides an overview of the Thai legal system, structures for doing business, and foreign investment regulations. It introduces other aspects of Thai law relevant to investment activities, including the following:

Reproduced with permission from Law Business Research Limited. This article was first published in Getting the Deal Through – Dispute Resolution (published in June 2011; contributing editor: Simon Bushell). For further information, please visit www.GettingTheDealThrough.com.

Recognizing the importance of foreign investment for its economic growth, Thailand has through the years relaxed restrictive investment laws and regulations, thus favorably positioning itself as a prime market for cross-border M&A activity. Continuing the trend toward investment liberalization, the Bank of Thailand and the Ministry of Finance will implement the second phase of the Financial Sector Master Plan over the course of 2010-2014, which will grant waivers on income tax, specific business tax, and stamp duty for earnings on merger and acquisition activities.

One question that is frequently asked by individual shareholders concerns the utilization of tax credit on dividends granted under Section 47 bis of the Thai Revenue Code. This article will discuss the conditions for using tax credit and explain how the tax credit can benefit a shareholder.