Thai Business Investment Increase Boosts Demand for Tax Experts

Planned increased in foreign business investment in Thailand this year is set to increase demand for international law firms and other Thai law consulting services. A year of recovery from 2011's widespread flooding, plus planned Thai business investment from Chinese and Japanese companies may find greater competition for competent specialists. End Quote

(1888PressRelease) May 16, 2012 - Bangkok - A predicted sharp increase in foreign business investment in Thailand in 2012 will likely boost demand for Thai law consulting firms and Thai visa service, along with a series of other professional services to advise foreign investors entering the country for the first time, according to leading Thai law company BSA Law.

In the first quarter of 2012, foreign business investment in Thailand more than doubled from the same period of last year, reaching an all-time record of 231.1 billion Thai baht, according to official statistics. Meanwhile, Thai government road shows to Japan, China, South Korea and elsewhere have drawn record investment commitments.

"The sudden boom in interest in foreign business investment in Thailand also is bringing with it a sharp increase in demand for professional services to meet the needs of those investors," BSA spokesman Apisakde Kongkangwanchoke said. "The business and legal environment in Thailand differs greatly from those that most of the foreign investors are used to dealing with, whether they are from China, Japan, or the United States or Europe. Professional law, tax and visa consulting services, then, are seeing the same boom in demand as the Thai economy itself. For investors who are coming later to Thailand than many of the others, the result may be a last-minute hectic search for qualified, professional advice."

BSA Law has operated in Thailand for more than three decades, garnering a wealth of experience and expertise in offering business advice to Thailand and multinational firms, providing tax consulting in Thailand, Thai business law counselling, and Thai visa service for investors ranging from those looking to start a business in Thailand to multinationals with years of experience in the realm.

First quarter foreign business investment in Thailand exceeded government expectations and the government says it's easily on track to meet its foreign direct investment target of at least 600 billion baht this year. Applications for promotion of business investment in Thailand in the first quarter also surged, rising 91 percent to a value of 134.2 billion baht.

In April, a Thai government road show to Chain attracted more than 65 billion Thai baht in planned investments from top Chinese companies. A similar road show to Japan, the main source of trade and business investment in Thailand, drew similar success in March. A Thai road show to South Korea in March also drew an expected 12 billion baht in business investment in Thailand.

As foreign business investment in Thailand booms this year, the Thai government is also offering a series of tax breaks and other incentives specifically to help recovery from the widespread flooding that hit the country last year. These include the waiver on taxes on new and expansion projects in Pathum Thani and Ayutthaya, plus some import duty exemptions on new or used machinery, corporate income tax exemptions in specific cases, extensions of some existing tax exemptions, and more.

These incentives are further adding to demand for Thai law consulting, potentially stretching the staffing and resources of some of the more established practitioners of corporate legal service in Thailand.

About BSA Law:

For nearly 30 years, Bamrung Suvicha Apisakdi Law Associates (BSA Law) has focused on providing reliable legal advice and services to the Thai and foreign business community in Thailand. BSA Law seeks to provide international standards of legal services while retaining the customs of the Thai business culture.

For more information please contact:

Jim Byrne
Business Advisor, BSA Law.
Email: jim ( @ ) bsalaw dot co dot th

http://www.bsalaw.co.th

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