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Analysis

Veins of steel: Despite a host of challenges, the Thai metals industry looks set to remain a strong player
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Thailand is no small player in the steel industry. It is the number 33 manufacturer in the world for crude steel, behind only Malaysia and Vietnam in the ASEAN region, according to World Steel Association figures for 2012. In the first half of 2013, reports the South East Asia Iron & Steel Institute, it was the region’s largest producer of flat steel, and took second place for long steel after…

Analysis

Solar flare: Government efforts have helped boost solar generating capacity
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As Thailand's natural gas runs low and as oil imports increase, the country is aggressively promoting new sources of energy and encouraging the increased use of alternative fuels. Furthermore, over time, Thailand’s alternative energy goals have become more ambitious. The Renewable Energy Development Plan (REDP), released in 2009, called for 20% of final energy consumption from renewables by 2020.…

Analysis

A shift in focus: Major changes are expected for the advertising sector in the year ahead
OBG
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Underlying a country’s advertising expenditure (adex) is usually the wider picture of macroeconomic growth, with Thailand no exception to this rule. Thus, during recent years of GDP expansion, rising incomes translated into greater expenditure. According to Maybank Kim Eng, advertising spend demonstrated a compound annual growth rate of 6.2% between 1995 and 2012. In recent times, however, the slowdown…

Analysis

Price matters: Gauging the effects of government support schemes for key commodities
OBG
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Few issues are more controversial in Thai agriculture these days than the question of government schemes to support – or not support – prices. Indeed, this issue sent rubber farmers onto the streets in the autumn of 2013 to demand more government support, while in that year and 2014, other street protestors demanded less government aid when it came to rice. Politics plays a major role in both commodities,…

Analysis

Into the digital era: Moving forward with the digitisation of national TV broadcasting
OBG
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The end of 2013 saw the Thai broadcasting authorities finally begin the licence bidding process for some 48 new digital TV channels – a move that may transform the current landscape of the media, advertising and creative industry. The move is being implemented by the National Broadcasting and Telecommunications Council (NBTC), which has been charged with completing it within the time frame of the…

Analysis

Home from home: Foreign ownership rules for land and condominiums
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Ownership Of Land By A Foreigner In theory foreigners cannot own land in Thailand, but in practice they can own up to 1600 sq metres for residential purposes under a Board of Investment (BOI) regulation (Land Code Section 96 bis) that demands, for land purchase, BT40m ($1.3m) to invest in Thailand in special assets or government bonds which benefit the Thai economy. After gaining ownership of…

Analysis

In good company: A look at the various types of businesses that can be established
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In Thailand business organisations can be divided into two types, non-profit organisations and business organisations. Non-profit organisations have to register under the Civil and Commercial Code, and are divided into associations and foundations. Associations can conduct any activity that is ongoing and not operated with the purpose of profit. Foundations allocate property specially to the public,…

Analysis

Outlining the incentives: A detailed review of taxes, exemptions and deductions
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The main body of tax law in Thailand is the Revenue Code. Taxes under the Revenue Code are primarily collected under a self-assessment system, whereby taxpayers take responsibility for correctly filing their tax returns and paying taxes. The revenue department administers the Revenue Code and enforces compliance with the law through regular tax audits. Taxpayers can ask the revenue department for…

Analysis

Outside looking in: A rundown of the regulations concerning foreign investment
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Of the business bases in the ASEAN region, Thailand is well placed to attract substantial foreign direct investment. The Foreign Business Act of 1999 (FBA) directly governs foreign investment in the country. Under the FBA, foreign businesses are separated into two categories: legal entities not registered in Thailand and legal entities registered in Thailand that have the following characteristics. Limited…

Analysis

The going rates: Taxes as applied to individuals and businesses in the country
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There are two categories of income tax in Thailand, personal and legal entity. Personal income tax is a direct tax that every person with an income is required to pay, and also any person who died in that fiscal year, undivided estates, and ordinary partnerships or groups of people that are not a legal entity. Personal income tax is based on assessable income, which is not limited to money but includes…