Forvis Mazars in Thailand technical update - May 2025

Tax

• Streamlining withholding tax compliance: New framework for appointing qualified WHT agents
• Thailand to ease tax rules on foreign-sourced income

Legal

• New measurements for promoting local SMEs and tourism businesses in second tier provinces
• Draft ministerial regulation to increase unemployment benefits

Accounting

• Potential impacts of U.S. trade and tax policy shifts: Accounting considerations for Thai companies
• DBD proposes enhanced qualifications for accountants to prevent nominee practices

IFRS

• IFRS IC agenda decision on the recognition of revenue from tuition fees
• IFRS IC agenda decision on guarantees issued on obligations of other entities
• IFRS IC agenda decision on the recognition of intangible assets from climate-related expenditure

Sustainability

• Publication in the OJEU of the ‘Stop the clock’ Directive
• Progress of discussions on the ‘Content’ Directive project
• ESRS Set 1 revision: EFRAG adopts its work plan
• Voluntary sustainability reporting standards
• The PSF publishes report on the revision of the Climate and Environmental Delegated Acts of the European Taxonomy
• ISSB Exposure Draft – Targeted amendments to IFRS S2
• IFRS Foundation and TNFD collaboration
• Jurisdictional adoption update for Canada