Forvis Mazars in Thailand technical update - January 2025

Tax

• ‘Easy E-Receipt 2.0’ offers tax deductions of up to THB 50,000 to stimulate the domestic economy
• The Revenue Department introduces tax measures to promote investment in Special Economic Zones

 Legal

• Changes to Long-term Residence Visa rules
• SMART Visa program restructuring
• Potential effect of new minimum wage rates on employers

 Accounting

• IAS 29 Hyperinflation reporting alert: December 2024
• BOI revises requirements to apply for corporate income tax incentives

 IFRS

• IASB publishes final amendments to IFRS 9 and IFRS 7 on contracts referencing nature-dependent electricity (PPAs and VPPAs)

 Sustainability

• Draft update of the Due Process Handbook
• Jurisdictional consultations on adoption of ISSB standards
• IBC support for adoption of ISSB Standards