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The Cabinet has recently approved in principle the Draft Ministerial Regulation under the Revenue Code Regarding Revenue Tax to increase the personal tax exemption amount on severance pay for terminated employees, aligning with the new maximum rate of severance pay. This change is intended to further ease the financial burden on terminated employees.

The Food and Drug Administration has recently updated a number of regulations related to certain medical devices to ensure that they are carefully monitored and controlled, have prescribed quality standards, and are safe for consumers. The updated regulations relate to alcohol detecting devices, positive airway pressure devices and dentistry devices.

The Thai Revenue Department (TRD) issued the revenue ruling No. Gor Kor 0702/1112 on 21 February 2024 (“Ruling”) regarding tax treatment for the new merger scheme under section 1238 (2) of the Civil and Commercial Code. According to the Ruling, the merger would be considered as an entire business transfer and the tax considerations for the EBT should apply.

To promote and support research and development of medical devices in Thailand, the Ministry of Public Health and the Food and Drug Administration have recently issued several notifications providing additional guidance for manufacturers or importers of certain medical devices seeking exemptions from licensing requirements (i.e., the manufacturing or import license, and the product registration license) under the Medical Device Act.

In April 2024, the Anti-Money Laundering Office (AMLO) issued five Guidelines on Customer Due Diligence (“Guidelines”), tailored for five categories of businesses, to elaborate on the recommended practices under the Ministerial Regulation on Customer Due Diligence, B.E 2563 (2020). The new Guidelines, issued in April 2024, target certain businesses classified as “reporting entities” under sections 3 and 16 of the Anti-Money Laundering Act, B.E. 2542.

The Thai Food and Drug Administration (FDA) has recently issued two notifications, namely the Notification of the Ministry of Public Health Re: Good Manufacturing Practice, B.E. 2566 (2023), and the Notification of the Ministry of Public Health Re: Good Importing and Sales Practice, B.E. 2566 (2023). These notifications aim to regulate the quality systems of medical device manufacturing facilities, as well as importers and sellers of medical devices.

The Entertainment Complex Policy Parliamentary Committee has considered and endorsed the draft Entertainment Complex Bill, B.E. (“Entertainment Complex Bill”), a concept initiated many years ago. The Entertainment Complex Bill aims to facilitate the establishment of entertainment complexes that include casinos. This has been passed to the House of Representatives in March 2024.

The Thailand Board of Investment (BOI) grants investment promotions for the development of software, digital platforms, or digital content. Previously, minor developments or modifications did not qualify for investment promotion from the BOI, and the BOI maintained a negative list of activities that did not qualify as development. However, on 15 March 2024, the BOI issued a new notification announcing a new promoted activity: the modification of software, digital platforms, or digital content.

Effective on 25 March 2024, the Stock Exchange of Thailand (“SET”) updated the requirements for acquisition, by a listed company or its subsidiaries, of the assets of a non-listed company (“Backdoor Listing”), and the requirements for the listing of securities of a company formed by amalgamation between a listed company and non-listed company (“Relisting”). These revisions aim to strengthen the consideration process and the required qualifications of companies proceeding with Backdoor Listing and Relisting, in order to maintain the same standards comparable to a new listing.