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Thai Revenue Department to tax foreign income starting next year

The Revenue Department in Thailand has announced a new policy that will subject residents who earn overseas income to personal income tax if they reside in the country for up to 180 days a year. The Revenue Department in Thailand has implemented a new policy that subjects residents earning overseas...

Four major Thai banks will close branches in Laos

Four major Thai banks, including Thai Military Bank, Bank of Ayudhya, CIMB Thai Bank, and Bangkok Bank, have decided to close their branches in Laos. Key Takeaways Major Thai banks are closing branches in Laos due to stricter regulations and decreased business activities. The banks cited tighter regulations imposed by Lao authorities,...

State Bank of Vietnam Joins Regional Payment Connectivity Initiative

The State Bank of Vietnam (SBV) has officially joined the Regional Payment Connectivity (RPC) initiative, expanding the memorandum of understanding signed by central banks of Indonesia, Malaysia, Philippines, Singapore, and Thailand. The State Bank of Vietnam has joined the Regional Payment Connectivity initiative, expanding collaboration on faster, cheaper, and...

PM to attend UN General Assembly in New York

PM to attend UN General Assembly in New York: The Prime Minister has confirmed his attendance at the UN General Assembly in New York. This annual event is crucial for global leaders to address pressing issues and facilitate diplomatic discussions. Prime Minister Srettha Thavisin has announced his plans to attend...

Esso exits Thailand after Acquisition by Bangchak Corporation

Esso Thailand, a petroleum company, has been acquired by Bangchak Corporation after ExxonMobil sold its majority stake. As a result, all Esso petrol stations in Thailand will operate under the Bangchak brand. Key Takeaways: Bangchak Corporation has acquired a majority stake in Esso Thailand, leading to the rebranding of...

Pension system in need of reform as cost pressure mounts

Mounting cost pressure calls for the urgent reform of the pension system. Thai society is facing the challenge of an aging population, with the percentage of those aged 60 and above projected to increase to 20.4% in 2020 and 38.3% in 2050. While there are multiple social insurance and assistance...

Thailand’s 30th Prime Minister in charge: Challenges and Hopes for Business Sector

Thailand’s Parliament has elected Srettha Thavisin as the country’s 30th prime minister, bringing relief and optimism to the business sector. Key TakeawaysThe election of Thailand’s 30th prime minister has brought relief and optimism to the business sector, with hopes for quick action on economic issues. Thailand’s new prime minister-elect, Srettha Thavisin,...

No inmate visits at Bangkok Remand Prison the day Thaksin returns

Visits to Bangkok Remand Prison are prohibited on the day Thaksin returns; inmates will not be able to receive visitors. Bangkok Remand Prison is suspending inmate visitations tomorrow due to security concerns, as fugitive former prime minister Thaksin Shinawatra is scheduled to return to Thailand. Thaksin's supporters are expected to...