Generally speaking, Specific Business Tax (SBT) is an alternative tax that is levied on certain types of businesses—particularly those in the financial services sectors. It was first introduced in tandem with the value-added tax (VAT) regime in 1992. The method for collecting SBT can be likened to that of sales tax, which was used in Thailand in the previous incarnation of indirect tax collection, before VAT.

The key to developing a successful business lies not only with having good entrepreneurial spirit and skills, but also with having sound knowledge of the laws and regulations that affect you and your company. To help business owners understand and navigate the ever-shifting legal landscape, Practical Law Company, in association with Lex Mundi, has published the latest edition in its series of multi-jurisdictional question-and-answer guides to doing business worldwide.

Published by Tilleke & Gibbins in association with Lex Mundi, the Guide to Doing Business in Thailand  provides a comprehensive overview of the legal environment for investors entering the Thai market. Topics covered in the guide include the political and economic situation, import and export regulations, exchange controls, tax, requirements for establishment of a business, structures for doing business, cessation or termination of a business, labor legislation, and immigration requirements. The guide provides an invaluable primer for investors new to Thailand.

The streets of Hanoi and Ho Chi Minh City are being filled with popular brand names of international franchises like KFC, Lotteria, and Circle K. Yet a foreign tourist wishing to find the nearest McDonald’s for a quick bite or a corner 7-Eleven for forgotten travel necessities would be rather surprised to find that these brands, so common in Asia and around the world, are still absent from the Vietnamese market (at the time of this writing).