Mazars in Thailand technical update – November 2022

Keywords: Mazars, Thailand, Tax, Legal, IFRS, Sustainability, IASB, ISSB,VAT

30 November 2022

Tax

• New Year’s events for employees
• Royal Decree on VAT exemption for data hosting services

 Legal

• Amendments to provisions of the Civil and Commercial Code related to limited companies

 IFRS

• IASB publishes narrow-scope amendment to IAS 1 on the classification of liabilities with covenants
• IFRS IC Agenda Decision on SPACs: accounting for warrants on acquisition of a SPAC by an operating entity
• IFRS IC Agenda Decision Lessor Forgiveness of Lease Payments
• IFRS IC Agenda Decision on the IFRS 17 multi-currency groups of insurance contracts
• IFRS 9: decisions arising from the PIR Phase 1– Classification and measurement
• Proposed amendments to IFRS 9 and IFRS 7 on the SPPI test for debt assets: disclosure and first-time application
• New IASB appointment

 Sustainability

• First ISSB decisions on future IFRS S1 and IFRS S2 sustainability standards