Labor Department to change work permit application locations in Bangkok
Starting January 16 the Labor Department will now require work permit applications and renewals to be done in specific locations designated by them. Please contact us if you have any questions regarding where your renewal will need to be made as there are now 10 offices based on location. Call us at Tel. (+66) 2-642-0213-5 or email [email protected]
for more details.
Condo owners concerned about the implementation of the new taxes should call us at (+66) 2-642-0213-5 to ensure that their tax rate remains as a residence. The government has delayed implementation of the new tax rates as the District Offices still need to implement procedures and policies. The government has stated that those condos being used as residences or for long-term rentals will be taxed at the lower rate residential rate while those being used for short-term accommodation such as AirBnB will be taxed at the commercial rate. Give us a call or email [email protected]
for more information.
The Bank of Thailand has ordered banks to change their interest rate fee structure for loans to SMEs and individuals, and fees for ATM cards. The BoT ordered banks that they must now charge interest on the balance amount and not the full amount of the loan for SMEs and the interest charge for default on mortgages, SME loans, and personal loans must be based on the installment amount and not on the balance. Banks were also asked to offer a grace period on interest payment should a debtor fail to pay his debt on time due to genuine financial difficulties. If the bank cancels an ATM or debit card then it must refund a proportional amount of the card fee to clients and when banks issue new cards to replace old ones, they can no longer impose a fee charge. Additionally, banks must not demand duplicate fees from clients and must disclose their fee charges to the public.