PwC Free Legal and Tax Seminar - PLAN & BE READY @Ayutthaya Province

Seminar topic

BOI & Customs Laws & Regulations update

Language

Thai

Japanese

Chinese

Did you know…

• The Customs Act might change in the near future?
• The BOI offers corporate income tax privileges for a maximum of 15 years?
• You can start a new BOI activity and receive a 10 billion baht subsidy?
• Your existing promoted or non-promoted project qualifies you for extra BOI incentives if you:
  • invest in research and development, or
  • replace manpower with machines?

• Potential changes in labour law, especially the Labour Protection Bill that will uplift the severance pay rate to 400 days!
• From surveys, most companies have common practices that are non-compliant with their labour.
• Fraud issues cause millions in damages to the organisation, and when it isn’t handled properly, it becomes worse.
• There are many mechanisms to prevent non-compliance issues.
• Myths when hiring expatriate employees and how to avoid these myths

Key concerns

Over the past few years, the government has been tightening up its policies including those of the BOI and Thai Customs, cleaning up non-compliant issues frequently found within BOI companies, for example:

• Mixed-up production lines (e.g. using one line for both BOI and non-BOI production)
• Delay in the start of the operations
• Unbalanced raw and essential materials and machinery accounts
• Mismanagement of corporate income tax, loss carried forward, import duty and excise tax

Detecting and cleaning up your BOI and customs non-compliance issues at an early stage is the most effective way to reduce future corporate and import taxes risks. We’ll provide guidelines on how to manage BOI and customs compliance requirements and initially identify BOI and customs non-compliance before you encounter adverse consequences.

Human resources has to deal with many issues, and those issues can turn out to be more complex when they go beyond daily operations such as legal non-compliance, misconduct, malpractice, fraud, or damage to a company’s property and reputation.

Dealing with a problem may require comprehensive yet cautious measures, as there may be consequences and subsequent liability. Also employment issues aren’t only caused by employees, but also by employers when they don’t comply with the law, possibly due to a lack of awareness of the legal implications.

Seminar objectives

Currently, there are many investment promotion laws and policies giving special investment incentives to investors and from talking to clients, we found that some investors aren’t aware that the BOI offers extra incentives. So they’re missing opportunities to exploit these BOI incentives. Are you missing out?

Another side of the amendments for more packages for utilising special incentives, the related authorities have also enforced all regulations and conditions for controlling all promoted companies to eliminate the non-compliance tasks from promoted companies.

Therefore, maximising your BOI privileges for current and future projects and reducing the risks of potential non-compliance will save you time, hassle, and money.

Labour issues are common but can be difficult to handle, and can be triggered by many factors. For example, the introduction of artificial intelligence (AI) posing a threat to jobs. Or, unforeseeable circumstances like changes in the law, and incorrect practices, not to mention cheating, fraud and white collar crimes that are difficult to investigate, especially if linked to related tax issues.

Also, as international mobility is important as part of your organisation’s business strategy, we would like to share with you the four biggest myths of hiring expatriate employees and how to avoid these myths and update the audience on Thai personal income tax changes.

While labour and tax issues can be complex, we believe they’re manageable. During the seminar we’ll share our experience and guidelines in handling those common issues for maintaining harmony in the workplace.

What you can expect from this seminar

• A clearer picture of the BOI’s updated policies and incentives
• Exploring investment opportunities and additional incentives as well as their conditions
• Guidelines on managing BOI compliance and doing self-investigation for BOI non-compliance
• Proposed changes to the Customs Act, and
• Insights into excise tax audit, export control, transfer pricing and customs valuation.

• What the proposed changes to the labour laws, and commons non-compliance issues are
• New challenges to the workforce due to AI
• Processes and steps to handle and settle labour issues
• Mechanisms for preventing labour disputes
• A clear understanding of common tax issues for expatriate employees
• Guidance on how to manage human resources

Remarks:

Don’t miss out!

Our seminar specifically focuses on these extra incentives. We’ll explain how you can qualify for the incentives, and the current BOI policy. We’ll also explore possible changes in the Customs Act to help you manage your customs process with greater efficiency.

What services do we offer?

There are legal mechanisms available to help you. They are defensive, preventive and offensive, and these (together with crisis management) can help prevent unexpected scenarios and minimise exposure.  You should always bear in mind that prevention is better than cure.