Thailand Takes First Steps to Implement Corporate Minimum Tax

The Thai government has approved first steps in drafting and implementing the global minimum tax.

The Cabinet, the most senior members of government, assigned the Finance Ministry to draft laws to collect a top-up tax based on the Organization for Economic Cooperation and Development’s Pillar Two framework.

The Cabinet also assigned the Office of the Board of Investment to amend the National Competitiveness Enhancement for Targeted Industries Act to support “investment promotion measures” in line with the framework.

• The Office of the Board of Investment and the Finance Ministry will coordinate on Pillar Two implementation details. ...