Mazars in Thailand technical update - September 2023

Tax

• Thailand Tax – Foreign-sourced income to become taxable from 2024
• Thai personal income withholding tax to be filed in 2024
• Reduced VAT rate of 7% is extended for another year

Accounting

• Recording the cost of machinery: Payment in instalments and on delivery

IFRS

• Amendments to IAS 21 – Lack of Exchangeability
• Renewable power purchase agreements: draft narrow-scope amendments to IFRS 9
• Standards on the presentation of financial statements and on disclosures by subsidiaries not subject to public disclosure requirements announced for the first half of 2024
• Taking climate-related matters into account in IFRS financial statements
• IPTF publishes working document on hyperinflationary economies

Sustainability

• ISSB Sustainability Disclosure Standards: final versions of IFRS S1 and IFRS S2 issued

Legal

• Governance of Digital Platforms