Legal Update Week 9 – 10 (24 February – 8 March 2020)
Legal Update Week 9 – 10
(March 2020, reading time approx.: 2 minutes)
- 26 February 2020:
- The National Broadcasting and Telecommunications Commission (“NBTC”) fined 3 digital TV channels for inappropriate broadcasting of the mass shooting situation in Korat (One Channel THB 250,000 / Thairath TV THB 500,000 / Amarin TV THB 500,000).
- The Industrial Estate Authority of Thailand signed an agreement with Asia Clean Industrial Property Co., Ltd. to establish Asia Clean Chonburi Industrial Estate in Banbung district, Chonburi, with the total area of 1,300 Rai. The investment value is at THB 3 billion, to support First S-Curve and New S-Curve industries, such as next-generation automotive, intelligent electronics, digital, robotics, and automation in EEC area.
- 3 March 2020:
- Thai export in the first quarter shrank by 3.6% due to the Coronavirus outbreak the major target countries, especially China.
- 4 March 2020:
- The Minister of Energy mentioned that the 23rd bidding round for petroleum concessions in the Gulf of Thailand will begin within April 2020, and the respective concession agreement will be entered into with the winner of the bidding in early 2021.
- 5 March 2020:
- Thailand Post introduced precautionary measures to prevent the spread of Coronavirus Disease 2019 (COIVD-19) by ceasing shipment and delivery service to risky destinations (e.g. People’s Republic of China and some areas in Italy).
- The Department of Business Development relaxs the regulation regarding the shareholder meeting during the period of Coronavirus outbreak by allowing companies that cannot hold the shareholder’s meeting in the set period to notify a registrar with a reason in writing (case-by-case).
24 February 2020:
- Approved Draft: Draft Min. Reg. prescribing regulations, procedures, and conditions of sale by public auction B.E. ….
3 March 2020:
- Approved Draft: Draft Royal Decree issued under the Revenue Code re: tax reduction (No. ..) B.E. …. (tax measure to support Thailand Voluntary Emission Reduction Program (“T-VER”))
- Corporate Income Tax exemption for a company or a juristic partnership for net profit incurred from the sale of carbon credits in Thailand under the T-VER project, registered with the Thailand Greenhouse Gas Management Organization (Public Organization), effective as of the date of enforcement until 31 December 2020 (three consecutive tax years).