Acts and regulations posted in the Royal Gazette in June 2017 including amendments to the Petroleum Act, new regulations under the Consumer Protection Act and from the National Anti-Corruption Commission.
1. Amendments of the Petroleum Act and Petroleum Income Tax Act
To comply with the national energy stability plan and secure Thailand’s petroleum reserves, the amended Petroleum Act and the Petroleum Income Tax Act came into force on June 23, 2017. Now instead of just concessions, the government can implement joint-production ventures (JPVs) and hire of service contracts.