Forvis Mazars in Thailand technical update - October 2025

Tax

• Thailand doubles down on STEM talent: 150% Tax deduction extended with new certification rules
• Thailand’s art tax incentives: Turning creativity into economic power

Legal

• Electronic work permit (e-WP) system
• Contingency protocol during e-WP system transition

Accounting

• Understanding non-exchangeable currencies under TAS 21 (2025 Amendment)

IFRS

• Targeted improvement to IAS 37
• Equity method
• FICE project
• Reclassification of financial instruments as debt or equity
• Effect of shareholder decision-making rights on classification
• Statement of cash flows
• Amortised Cost Measurement  
• IFRS IC consultation on the classification of foreign exchange differences from intragroup loans and borrowings under IFRS 18

Sustainability

• ISSB moves forward on targeted GHG disclosure amendments
• ISSB standards Jurisdictional adoption – consultation