Blog > Marketplace News > The Thai Ministry of Finance intends to force the implementation of the 15% global minimum tax
The Thai Ministry of Finance intends to force the implementation of the 15% global minimum tax
Jayson 13 Jun 2024 10:28
According to reports, the Thai government is preparing to accelerate the implementation of the "global minimum tax rule".
Thailand's Assistant Minister of Finance Churaphan hinted that the bill will be submitted to the cabinet for review in the next two weeks. It is expected that the relevant bill will be promulgated before the end of this year and is expected to be implemented next year. The bill will generate 20 billion baht in tax revenue for the country.
However, the Thai Board of Investment (BOI) expressed concerns that it would be difficult to complete the drafting of the law within a limited time.
It is reported that the bill will initially be implemented for large multinational companies with annual revenue of 750 million euros or more. The agency believes that if the government implements the plan, it will be able to inject tens of billions of baht of liquidity into the stock market.
Thailand's Assistant Minister of Finance Churaphan hinted that the bill will be submitted to the cabinet for review in the next two weeks. It is expected that the relevant bill will be promulgated before the end of this year and is expected to be implemented next year. The bill will generate 20 billion baht in tax revenue for the country.
However, the Thai Board of Investment (BOI) expressed concerns that it would be difficult to complete the drafting of the law within a limited time.
It is reported that the bill will initially be implemented for large multinational companies with annual revenue of 750 million euros or more. The agency believes that if the government implements the plan, it will be able to inject tens of billions of baht of liquidity into the stock market.
