Mazars in Thailand technical update – May 2021

Keywords: Mazars, Thailand, Tax, Legal, Accounting, IFRS, Tax filing, PDPA, SSF, TFRS 16, COVID-19, Rent concessions, IFRS IC, IAS 38, ISSB

4 June 2021

Tax

• Tax filing deadline extensions

Legal

• Effective date of the Personal Data Protection Act postponed
• Reductions in the Social Security Fund (SSF) contribution rates

Accounting

• Amendment to TFRS 16 regarding COVID-19-related Rent Concessions – Phase 2

IFRS

• IFRS IC agenda decision on Configuration or Customisation Costs in a Cloud Computing Arrangement (IAS 38 – Intangible Assets)
• Exposure Draft on lack of exchangeability
• IFRS Foundation consults on creation of International Sustainability Standards Board
• IASB consults on its agenda to 2026