On February 14, 2024, Thailand’s Department of Climate Change and Energy (DCCE) began holding public hearings on the draft Climate Change Act, which is being developed to help the country achieve its commitments under the Paris Agreement. These hearings, held throughout the country, are expected to be completed by the end of March 2024. Key features and developments of the draft Climate Change Act are outlined below. Supervising Authority Under the current draft, the main supervising authority is changed from the Office of Natural Resources and Environmental Policy and Planning to the DCCE. The DCCE will focus on fostering collaboration with national and international governmental committees, agencies, and private sector organizations to facilitate the implementation of activities in alignment with the Climate Change Act. Thailand’s Climate Change Master Plan To be issued by the National Climate Change Policy Committee (NCCPC), the Climate Change Master Plan will serve as a national-level plan and framework for Thailand’s actions on climate change adaptation. The DCCE will review the plan every five years and is in charge of monitoring and enhancing state agencies’ implementation of the master plan. GHG Database The DCCE will establish and maintain a national greenhouse gas (GHG) database to track the quantity of GHG emissions from human activities, sequestration, and reduction efforts. In this regard, eight state agencies and other agencies to be prescribed by the NCCPC are required to store GHG-related information and submit reports to the DCCE. If necessary, certain private entities (e.g., factory operators and energy companies) may be required to report activity data to government agencies for compiling the GHG database. GHG Reporting For the benefit of the emissions trading system, legal entities under private and public laws prescribed by the NCCPC are required to submit an annual report of the quantity of emissions or

Thailand has opted to continue its reduction of rates for the sale and mortgage of certain types of properties to Thai individuals, as detailed in two ministerial regulations issued by the Ministry of Interior dated December 28, 2023, and published in the Government Gazette on January 2, 2024. In recent years, Thailand has allowed a reduction of the government fees for registering the sale and mortgage to Thai individuals of detached houses, semidetached houses, row houses, commercial buildings, the accompanying land, and condominium units with a sale price, official assessed value, and mortgage amount of up to THB 3 million. The reduced rates for these government fees are as follows: Sale: 1% of the officially assessed value (reduced from the normal rate of 2%). Mortgage: 0.01% of the mortgage amount (reduced from the normal rate of 1%). To be eligible for the reduced mortgage registration rate of 0.01%, both the sale and mortgage must be registered at the same time. These reduced rates will be valid until December 31, 2024. For more details on the reduced fees, or on any aspect of property law in Thailand, please contact Chaiwat Keratisuthisathorn at [email protected].

As part of its membership in Lex Mundi, Tilleke & Gibbins has published an updated edition of its Guide to Doing Business in Thailand for 2023. This guide outlines the key factors for starting and operating a business in the Thai market. Issues covered include: Investment incentives Financial facilities Exchange controls Import and export regulations Structures for doing business Requirements for the Establishment of a Business Operation of the Business Cessation or Termination of the Business Labor legislation, relations, and supply Tax Immigration requirements This publication is part of Lex Mundi’s Country Guides series prepared by member firms in more than 100 jurisdictions worldwide. The guides serve as a useful resource for planning international business strategy and researching new markets. The full Guide to Doing Business in Thailand is available through the button below.