Navigating Major Legal Reforms in Thailand: Key Changes in 2024

• Introduction of the Emergency Decree on Top-up Tax, applying a 15% tax rate to multinational enterprises with revenues of at least $770 million, ensuring compliance with globally agreed tax levels.
• Implementation of new data privacy laws and regulations governing cross-border data transfers, updated guidelines for digital platform advertisements, and the establishment of the Technology Crime Division to address technology-related offenses.
• The Board of Investment included ‘data hosting services’ in its list of promoted business activities, and new real estate regulations were introduced for selling condominium units, with requirements for reservation contracts and consumer protection clauses.

As Thailand continues its journey to evolve both economically and socially, the legal landscape continued to see significant regulatory changes throughout the course of 2024. Politics aside, the economy continues to go from strength to strength, thus the country continues to experience regulatory reform.

Alongside growing technological advancements, Thailand is constantly evolving its legal framework to ensure it remains relevant in the face of constant change.

For businesses operating in Thailand, it is essential that you stay informed of all the latest developments in the regulatory sphere.

As 2025 comes to age, the commercial and legal experts at WSR International provide a brief overview of key regulatory changes that came into effect in Thailand in 2024.

Corporate Income Tax Reform

The Emergency Decree on Top-up Tax, B.E. 2567 (2024) was officially introduced in the Royal Gazette on 27th December 2024, becoming law on 1 January 2025.

The Decree will apply to multinational enterprises with revenues of at least $770 million.

The tax will be implemented at the globally agreed level of 15 percent. If a multinational enterprise’s corporate income tax falls below the 15 percent threshold, it will be required to pay the difference in the country where the parent company is based. However, they can now pay the difference to the tax authorities in Thailand.

Data privacy laws

As Thailand’s economy continues to develop, the authorities have been implementing various laws and regulations related to data privacy and cybersecurity.

In March 2024, two notifications came into force governing the cross-border transfer of data. These notifications set out the regulations governing the transfer of data cross borders.

Throughout 2024, Thailand’s Electronic Transactions Development Agency (ETDA) introduced new guidelines that aim to manage various forms of advertisements via digital platform services

Further, Thailand introduced the Technology Crime Division under the premises of the Criminal Court of Thailand. This represented a monumental step in Thailand’s approach to pursuing technology-related offences.

Recently, under the Personal Data Protection Act B.E. 2562 (2019) (PDPA), a private enterprise was fined THB 7 million for non-compliance with the various regulations.

Investment

In June 2024, the Board of Investment (BOI) announced its updated list of promoted business activities to include ‘data hosting services’.

Thailand is on track to legalise most forms of gambling to boost the economy and encourage more tourism in 2025. The government is introducing new legislation to facilitate entertainment complexes with various gambling and other entertainment facilities.

Real estate

In October, Thailand’s Office of the Consumer Protection Board announced new regulations for selling condominium units through reservations. The new notification requires reservation contracts to be drafted in Thai, including specified terms and conditions, and to be provided to the consumer in duplicate upon signing.

Key rights and clauses include consumer and business operator termination rights, conditions for the return of payments, and prohibition of certain clauses, such as those limiting business operator liability or allowing reservation payment confiscation when the consumer is not in default.

What does 2025 hold?

At WSR International, we are closely monitoring the proposed regulatory changes in Thailand for 2025, which are set to increase the ease of doing business in Thailand.

We expect to see key updates including enhanced data privacy and cybersecurity laws aimed at better protecting personal and corporate information in an increasingly digital world.

Additionally, continued reforms to foreign investment regulations will provide more clarity and opportunities for international businesses looking to establish and grow their presence in the country.

We also expect to see changes also emphasizing the increasing protection for workers, with new measures designed to improve workplace standards and employee rights across various industries.

Please do reach out to the commercial and legal experts at WSR International to discuss how we can best help your business throughout 2025.