Eastern Economic Corridor (EEC) visa
The EEC Development Policy Committee approved a special temporary resident visa (EEC Visa) to stimulate foreign investment, especially in modern industrial business operators with an enviromentally friendly focus. The visa is categorised into four types:
1. Specialist Type: EEC Visa “S” for individuals with knowledge and expertise
2. Executive Type: EEC Visa “E” for executives
3. Professional Category: EEC Visa “P” for experts and professionals
4. Other Category: EEC Visa “O” for spouses and dependents
EEC visa holders will be entitled to numerous significant privileges, including automatically gaining the EEC work permit, 17% flat rate personal income tax, online reporting, fast track channel at Thai international airports, etc. The visa can be valid for up to 10 years, depending on the employment period, and can be used to enter and leave the country unlimitedly during the validity period.
https://www.nationthailand.com/business/trading-investment/40033176
Tax incentive for automotive industries
The Board of Investment (BOI) approved the investment promotion measures for the automotive industry for the implementation of Automation and Robotics technology in a production line. The eligible business operators will be entitled to a tax deduction of 50% of investment in automation or robotic systems. In case the project uses domestic automation or robotic machinery for not less than 30% of the system, the entitlement will be increased to 100% of their investments in the system. Business operators must apply for investment promotion within 2024 to be entitled to the tax incentive.
https://www.bangkokbiznews.com/business/economic/1098044
Investment promotion measures for electric vehicles
The Board of Investment (BOI) approved the subsidies for the electric vehicle industry (EV 3.5 Package) as follows:
In addition to the subsidies above, electric passenger car prices not exceeding THB 7 million (approx. USD 20,500) will be subject to a reduced excise tax of 2% (from the original 8%), and passenger car prices not exceeding THB 2 million (approx. USD 58,700) imported as Complete Built-Up Units (CBUs) will be granted a reduction of import duties of up to 40% during 2024-2025.
https://www.boi.go.th/index.php?page=press_releases_detail&topic_id=134676&_module=news&from_page=press_releases2&language=en
Bondholder of Stark to file a class-action lawsuit
Following the default of numerous series of the bonds of Stark Corporation Pcl and heavy investigations probe from several law enforcement agencies, the bondholders are currently in the process of filing a class-action lawsuit against the company. The lawsuit will not only focus on the company but also the company executives, and any other persons who are involved in providing investment advice, issuing bonds, and falsifying accounting reports. The class-action lawsuit will make the bondholders entitled to hogher compensation of their damages than the normal civil case (e.g. 2 times as punitive damages, and higher interest).
https://www.ryt9.com/s/iq05/3473807
Draft law on ending criminal penalties for writing bad cheques
The Cabinet has approved a bill repealing the Act On Offenses Arising From The Use Of Cheques B.E. 2534. As a result, the liability of the issuer of a bad cheque will only remain in the Criminal Code. This decision aligns with Section 77 of the Constitution, emphasizing that criminal penalties should be reserved for serious offences and in line with the International Covenant on Civil and Political Rights (ICCPR) to ensure, whereby individuals shall not imprisoned solely due to defaulting on debt repayments.
https://www.thaipbsworld.com/cabinet-endorses-removing-criminal-liability-from-writing-bad-cheques/
Adjustment of the salary for government employees
The Cabinet approved the guideline for adjusting salary for civil servants and government officials. working in positions that needs bachelor’s degree qualifications will have a salary of not less than THB 18,000 (approx. USD 520) and those working in positions with a vocational certificate level will have a salary of not less than THB 11,000 (approx. USD 317). These increases will be within the time frame of 2 years, and salary rates for other qualifications will be adjusted to be consistent accordingly.
https://www.bangkokpost.com/thailand/politics/2694238/cabinet-backs-20-raise-for-civil-servants
Draft law on management of air pollution
The Cabinet approved in principle the Clean Air Act. The draft act, in essence, entails the establishment of a mechanism for managing and controlling various activities that result in air pollution in all dimensions in a way of setting up the 3 level committees (policy maker, management level, and provincial level) to tackle and control air pollution. It also includes economic tools and measures to further increase the effectiveness of the law, for example, tax measures, air pollution management fees, subsidies and support measures for promoting activities for clean air.
https://www.thaigov.go.th/news/contents/details/75346
