Forvis Mazars in Thailand technical update - September 2025

Tax

• Thailand grants five-year personal income tax exemption on digital asset gains
• Thailand cabinet approves extension of 7% VAT rate for one year
• New online platform for VAT and SBT registration

Accounting

• Recognising expected losses on non-cancellable purchase commitments under TFRS for NPAEs

IFRS

• Amendments to IFRS 19
• Appointment to the IASB
• Publication of near-final examples of climate-related uncertainties in the financial statements
• IASB project on cash flow statements: new approaches
• IFRS 18: IFRS IC proposes to update 10 agenda decisions
• IPTF publishes document for discussion on hyperinflationary economies

Sustainability

• Using industry-based guidance when applying ISSB standards
• Jurisdictional adoption of ISSB standards – consultation
• ESMA public statement on supervision of the first ESRS sustainability statements in the Omnibus environment
• Voluntary sustainability reporting by SMEs: EC recommendation to apply EFRAG’s VSME standard
• EFRAG publishes initial state of play on first sustainability statements under ESRS