The commercial real estate sector in Southeast Asia is a dynamic and innovative space, but businesses also face an array of complex legal challenges. With real estate investments transcending borders and regulations, businesses in the region confront a legal environment that demands a clear understanding of the rules and procedures in each jurisdiction. Authored by legal experts at Tilleke & Gibbins, Commercial Real Estate Law in Southeast Asia is a comprehensive resource that addresses the legal issues relevant to enterprises involved in the commercial real estate sector. The guide explores the nuances of commercial real estate law in Cambodia, Laos, Myanmar, Thailand, and Vietnam, providing an overview of the regulatory framework and legal environment governing property transactions in these countries. Within the guide, readers will find detailed sections dedicated to each country, offering in-depth insights into the legal instruments, regulatory authorities, and procedural requirements that shape the commercial real estate landscape. Each section outlines the real estate activities that are permissible, those that are restricted, and the associated liabilities and penalties for noncompliance. The full Commercial Real Estate Law in Southeast Asia guide is available through the button below.

Similar to other types of corporate disputes, tax-related conflicts often begin with an earnest attempt to resolve matters outside the courtroom. The prospect of engaging in tax litigation can be daunting, given the potential strain on commercial relationships, the legal expenses, and the uncertainty surrounding its resolution. However, there are instances when tax litigation becomes the sole avenue for seeking redress. For individuals and entities contemplating the pursuit of tax-related legal remedies, the Thai legal system offers an accessible, impartial, and equitable platform for dispute resolution. Tax Litigation in Thailand provides an outline for navigating tax-related disputes within the Thai legal framework. It aims to equip readers with a fundamental understanding of procedures and practices within the Thai tax litigation landscape. The full guide is available through the button below.

On October 9, 2023, Laos issued Presidential Decree No. 003, which raised excise tax rates for certain goods, effective immediately. The move to increase excise tax rates comes amid the marked depreciation of the Lao kip (LAK). The Lao government is trying to monitor and discourage imports of non-essential products in order to reduce the outflow of foreign currency from the country. Increasing the tax rate for some of these products is part of these efforts. The specific products and excise tax rates are listed in the table below.   This new rate policy is also in line with recent government efforts to encourage avoiding payment in foreign currency to prevent the depletion of foreign currency reserves in Laos. In this regard, commercial banks have already taken action to ration the supply of foreign currency by prioritizing imports of essential goods, such as fuel. The products listed above formalize this impetus to prioritize certain imports and discourage others deemed not essential. In addition, the increased excise tax rates on fuel-powered vehicles show the commitment of the Lao government to move toward electric vehicles, which would also lessen the country’s dependence on fuel imports. For more information on these excise tax changes, or on any aspect of Laos’ international trade regulations, please contact Tilleke & Gibbins at [email protected].

On September 15, Revenue Departmental Order No. Por. 161/2566 was published, fundamentally changing how Thailand tax residents’ offshore-sourced income will be taxed. Under the order, starting from January 1, 2024, the offshore-sourced income of tax residents will be subject to Thai personal income tax (PIT) in any year that it is brought into Thailand. The purpose of this new rule is to ensure consistent tax collection practices among tax officers and to tackle tax avoidance strategies commonly used by individual taxpayers. PIT on Offshore-Sourced Income According to the resident rule in Thailand’s Revenue Code, Thailand tax residents (i.e., persons who reside in Thailand for at least 180 days in a calendar year) are subject to PIT on their domestic-sourced and offshore-sourced income. “Offshore-sourced income” is broadly defined to include income from work, business, or assets outside Thailand. Existing Practice Currently, Thailand tax residents’ offshore-sourced income is exempted from PIT if it is brought into Thailand after the calendar year in which it was earned. This exemption was adopted 28 years ago in the Revenue Department’s interpretation stated in a resolution from February 1985. This exemption by interpretation has led some Thailand tax residents to avoid PIT by simply holding their newly earned offshore-sourced income abroad temporarily and then bringing it into Thailand at a later time. Through the years, a number of tax rulings have affirmed this practice. New PIT Collection Rules for Offshore-Sourced Income Revenue Departmental Order No. Por. 161/2566 simply revokes the favorable exemption adopted under the February 1985 resolution so that the delay tactic is no longer able to succeed in avoiding tax. Starting from January 1, 2024, the offshore-sourced income of Thailand tax residents will be subject to PIT whenever it is brought into Thailand, at which time the offshore-sourced income must be declared to