On February 10, 2021, the Royal Thai Government Gazette publicized the Revenue Code Amendment Act (No.53), which mainly stipulates that non-resident electronic service providers and electronic platforms are required to register for VAT under certain conditions and allows tax documents and evidence to be provided electronically. Read more here Source:
Tourism receipts in 77 provinces set another historic low in 2021 with revenue declining by 69.55% to 241,350 billion baht, while the income gap between Bangkok and other major provinces remained wide, according to the Tourism and Sports Ministry. Read more here Source: Bangkok Post
On 31st January 2022, Denmark and Thailand signed a new MoU (Memorandum of Understanding) on Dairy cooperation to take on the challenges of today’s food production. Read more here Source: ScandAsia.
Exiled former Prime Minister Thaksin Shinawatra claims that there are four or five major pork merchants in Thailand with cold storage facilities capable of storing up to 400,000 kgs of frozen pork for up to six months, and that they have been hoarding pork for profiteering purposes. Read more Source:
Key Findings After being severely hit by a surge of COVID-19 cases in the third quarter 2021, economic activity has subsequently rebounded. Economic activity is expected to return to its pre-pandemic levels end-2022, with progress on vaccinations and a resumption of tourist arrivals providing support for the recovery. The adoption
In November 2021, inflation was 2.7 percent, up from 2.4 percent in October. The rate of inflation in November was the highest since April. As a result, the trend shifted slightly upwards in November, with annual average inflation coming in at 1.0 percent (October: 0.8 percent ). Finally, core inflation
Pork producers in Thailand are requesting the government to import pork in order to assist manage rising prices, which are affecting both consumers and vendors. Pork vendors at Huai Khwang market expressed concern that if the government does not intervene, the average price of market pork could reach 300 baht
Department of International Trade Promotion (DITP) has tightened its measures for Thai frozen food exporters by launching Thailand Delivers with Safety campaign to boost confidence among global consumers in COVID-19-free safety food products from Thailand. DITP also joins forces with partner organizations in implementing COVID-19 Prevention Measures in food production,
Monetary Authority of Singapore (MAS) and the Bank of Thailand (BOT) has launched the linkage of Singapore’s PayNow and Thailand’s PromptPay real-time payment systems, enabling customers from both countries to perform cross-border fund transfers using only their mobile numbers. Customers of participating banks in both countries will be able to