Mazars in Thailand technical update – July 2022

Keywords: Mazars, Thailand, Tax, Legal, Accounting, IFRS, Sustainability, Tax measures, Tax deduction, CIT, TFRS, NPAEs, IFRS IC, IASB, IAS, FICE, IPTF, ISSB, CSRD

1 August 2022

Tax

• Additional tax deduction for the purchase of biodegradable plastic products
• Tax measures to support tourism and related industries
• Reminder about filing half-year corporate income tax returns

Legal

• Bill to repeal the Act on Offences Arising from the Use of Cheques, 1991

Accounting

• Exposure draft of TFRS for NPAEs

IFRS

• Classification of liabilities with covenants: clarification of the scope of the amendment to IAS 1 proposed in November 2021
• Discussions on the equity method
• FICE project: discussions continue
• IPTF publishes document for discussion on hyperinflationary economies

Sustainability

• New appointments make ISSB quorate
• European Council and Parliament finalise political compromise on the Corporate Sustainability Reporting Directive (CSRD)