Accounting Section - Doing Business
Explore a series of summaries providing an overview of useful accounting regulations, processes and accounting issues for doing business in Thailand.
BOI revises requirements to apply for corporate income tax incentives
The Board of Investment (BOI) issued Announcement No. P. 11/2567, effective 20 December 2024, which made significant changes to the requirements for claiming corporate income tax exemptions. These changes are designed to match the reporting framework set out in the revised Standard on Related Services 4400 (TSRS 4400).
IAS 29 Hyperinflation reporting alert: December 2024
The World Economic Forum’s latest 2024 report shows changes in the list of countries suffering hyperinflation. Most notably, Laos has joined the list of countries requiring the application of IAS 29. This addition is particularly relevant for Thai businesses with operations in neighbouring countries.
Climate change considerations in Financial Reporting Standards
As climate change continues to impact business operations globally, organisations must carefully consider its effects on their financial reporting. This article examines various Thai Financial Reporting Standards (TFRS) and their application to climate-related issues in financial statements.
Revenue recognition for drop shipping fulfilment operations
The drop shipping fulfilment model was developed to address traditional online business challenges
Guideline on TFRS 5, ‘Non-current assets held for sale and discontinued operations’
This guideline was released on 31 July 2024, and aims to clarify key aspects of the standard and provide practical examples to aid in its application.