Thailand Legal News
Court accepts the case for revocation of True-Dtac merger
The Central Administration Court accepted the case from the Thailand Consumer Council (TCC) requesting for the revocation of the National Broadcast and Television Commission’s (NBTC) resolutions in acknowledging the True-Dtac merger. TCC alleged that the
NBTC did not conduct public hearings before setting specific conditions and measures. Moreover, they also alleged that the
meeting in which the resolution was made, was concluded unlawfully.
Temporary break on Power Development Fund contributions
Extension of the payment deadline for land and building tax
Ministry of Internal Affairs approves the extension of tax payment under the Land and Building Tax Act for 2 months. The extension was aimed to alleviate the impact of the flood situation in several provinces across the country.
Cabinet approves the extension on tax reductions for diesel
The Cabinet approved the extension of the diesel tax reduction (THB 5 per liter) for another 2 months (until 20 January 2023). This will result in THB 20 billion loss by the government.
Drafted code of practice regarding gift receiving for a government official
The Cabinet accepted the new draft of the regulations in relation to accepting gifts by government officers in the principle. This law will revoke the old regulations from 2001 and will give more precise definitions and restrictions. For example, “assets” shall also
include digital assets, normal tradition shall include traditional or important days in which a person may give gifts to others in order to congratulate, express gratitude, offer condolences, or provide courtesy assistance, etc. However, under the draft regulations, the limit remains at THB 3,000 per person per occasion (or any other amount prescribed by the National Anti-Corruption Commission.)
Amendment of Civil and Commercial Code
Some key amendments made to the Civil and Commercial Code are as follows:
- The registered memorandum of association will become invalid, if the company is not registered within 3 years;
- The minimum number of promoters and shareholders of the company is reduced from 3 to 2 persons;
- Share certificate must be signed by at least 1 director and affix the company seal;
- The director meeting can be held electronically unless prohibited by the article of association;
- The requirement for newspaper publication for notice of shareholders’ meeting is removed unless the company issues
bearer share certificates. However, in case of bearer share certificates, an electronic notice can be sent, but it must comply
with the standard in ministerial regulations;
- The quorum for the shareholders’ meeting must consist of at least two shareholders, who attend in person or by proxies,
besides not less than one-quarter of the company’s capital requirement;
- Dividend payment shall be completed within 1 month after the date of the resolution;
- A new type of merger is recognized; whereby two companies can merge and one of them can keep its juristic status.
(A+ B= A or A+B= B)
The amendment will be effective from 7 February 2023 onward.
Tax reduction for EV on the annual registration
The annual road tax for electric vehicles is reduced by 80% provided that the said vehicle is new, ready-made from the factory, and registered within three years from the effective date of this decree. (9 November 2022)