⚡️ MBMG Flash : Are you ready for all these?

• Employer and insured person under Section 33: 🔻Reduced from 5% to 1%, paying a maximum of 150 bath/month.
• Insured person under Section 39: 🔻 Reduced from 9% to 1.9% from the original payment of 432 baht/month to 91 baht/month.
• Insured person under Section 40: 🔻 Reduced to 42 baht, 60 baht and 180 baht according to the social security coverage for 3-5 cases respectively.
  

  
  

Disclosure Form

Company or juristic partnership do not forget to file a disclosure form because the Revenue Department does not extend the filing deadline like the fiscal year-end 2020.

Therefore, the disclosure form for the fiscal year-end 2021 must be filed by 30 May 2022! (this includes those who have not filed the form for the fiscal year-end 2020 as the Revenue Department has extended the filing deadline to 30 May 2022 as well, which will not be considered a late filing.)

Who is required to file a disclosure form?

➤ Related juristic persons as follows:

• Holding shares in another juristic person, both directly and indirectly, more than 50% of the total capital (this includes a juristic person holding a juristic person or a natural person with a juristic person.).
• Juristic persons who are related to each other in terms of the capital management.
• Have a total income of more than 200 million baht/year

Penalties for late or non-filing.

➤ Not more than 7 days: 50,000 baht.

➤ More than 7 days: 100,000 baht.

➤ Officials found: 200,000 baht.

PDPA (Personal Data Protection Act B.E. 2562) has been confirmed that it will come into force on 1 June 2022 without any delay! The act will affect all businesses as they will be considered statutory data controllers which require them to have guidelines to comply with the personal data security standards such as first name, last name, phone number, ethnicity, health information and many more.

Businesses cannot disclose any personal Data without the consent of the data subject and must only use it for the purpose for which it was stated. In addition, the storage and use of personal data must comply with the specified standards such as determining access rights, safe and secure storage of data, etc.

If your business is not well prepared for PDPA, it may lead to lawsuits so be sure to be prepared.