{"id":13527,"date":"2024-05-27T03:39:34","date_gmt":"2024-05-26T20:39:34","guid":{"rendered":"https:\/\/belaws.com\/thailand\/?p=13527"},"modified":"2025-01-29T10:40:15","modified_gmt":"2025-01-29T03:40:15","slug":"debt-repayment","status":"publish","type":"post","link":"https:\/\/belaws.com\/thailand\/debt-repayment\/","title":{"rendered":"Debt Repayment in Thailand"},"content":{"rendered":"<section  class='av_textblock_section av-ks8kyyfa-e516bae24dd4ed4f78e7dedb0aea1067'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock breadcrumb'  itemprop=\"text\" >\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-18myty-919e5cb9f68131fb6240d9c12261edb4\">\n.av_font_icon.av-18myty-919e5cb9f68131fb6240d9c12261edb4 .av-icon-char{\nfont-size:11px;\nline-height:11px;\n}\n<\/style>\n<span  class='av_font_icon av-18myty-919e5cb9f68131fb6240d9c12261edb4 avia_animate_when_visible av-icon-style- avia-icon-pos-left av-no-color avia-icon-animate'><span class='av-icon-char' aria-hidden='true' data-av_icon='\ue874' data-av_iconfont='entypo-fontello' ><\/span><\/span>\n<div style=\"padding-left: 15px;\"><span class=\"\"><a href=\"https:\/\/belaws.com\/thailand\/\">Belaws Home<\/a> \u203a\u203a <a href=\"https:\/\/belaws.com\/thailand\/\">Thailand<\/a> \u203a\u203a <a href=\"https:\/\/belaws.com\/thailand\/blog\">Blog<\/a>\u00a0\u203a\u203a <\/span>Debt Repayment in Thailand<\/div>\n<\/div><\/section>\n<\/div><\/div><\/div><!-- close content main div --><\/div><\/div><div id='av_section_1'  class='avia-section av-re718-f933e9e3a470259eecd4d4692aaacea2 main_color avia-section-no-padding avia-no-border-styling  avia-builder-el-2  el_after_av_textblock  el_before_av_section  avia-bg-style-scroll container_wrap sidebar_right'  ><div class='container av-section-cont-open' ><div class='template-page content  av-content-small alpha units'><div class='post-entry post-entry-type-page post-entry-13527'><div class='entry-content-wrapper clearfix'>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-ksd27few-1f8c384e085c379baccb5abbe326157c\">\n#top .hr.hr-invisible.av-ksd27few-1f8c384e085c379baccb5abbe326157c{\nheight:100px;\n}\n<\/style>\n<div  class='hr av-ksd27few-1f8c384e085c379baccb5abbe326157c hr-invisible  avia-builder-el-3  el_before_av_one_half  avia-builder-el-first  av-medium-hide av-small-hide av-mini-hide'><span class='hr-inner '><span class=\"hr-inner-style\"><\/span><\/span><\/div>\n<div class='flex_column av-gmj0k-ac56bb06b98c278ca7684f46c4d7723e av_one_half  avia-builder-el-4  el_after_av_hr  el_before_av_one_half  first av-break-at-tablet flex_column_div '   ><p><section  class='av_textblock_section av-kscys0p5-d0fe1da2549b5d38fb08e5d3e4dbc794'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock sur-titre_bleu'  itemprop=\"text\" ><p>running a company<\/p>\n<\/div><\/section><br \/>\n<section  class='av_textblock_section av-lra90-9ab3f8d48a81ed396ae07bbaafa596f6'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock h1_bleu_post'  itemprop=\"text\" ><h1>Debt Repayment in Thailand<\/h1>\n<\/div><\/section><br \/>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-b3jfo-03f63b84c9a76d84e1713c05a87923fd\">\n#top .hr.hr-invisible.av-b3jfo-03f63b84c9a76d84e1713c05a87923fd{\nheight:30px;\n}\n<\/style>\n<div  class='hr av-b3jfo-03f63b84c9a76d84e1713c05a87923fd hr-invisible  avia-builder-el-7  el_after_av_textblock  el_before_av_textblock '><span class='hr-inner '><span class=\"hr-inner-style\"><\/span><\/span><\/div><br \/>\n<section  class='av_textblock_section av-kscyalj7-2ad25b68643e9517389c1de031001cff'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock text_18'  itemprop=\"text\" ><p><span style=\"font-weight: 400;\">25\/05\/2024<\/span><\/p>\n<\/div><\/section><br \/>\n<section  class='av_textblock_section av-2mj4cc-546fb3795883e77cb448506a33b339b7'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock text_18'  itemprop=\"text\" ><p><span style=\"font-weight: 400;\">Debt repayment is an important part of business and financial transactions, ensuring that creditors receive the payments owed to them by debtors. In Thailand, the process of debt repayment and collection is governed by specific legislation and procedures. Understanding these legal frameworks and the options available for debt recovery is essential for both creditors and debtors.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In this blog post we will take a look at the process for debt repayment in Thailand, providing insights into the legal aspects, pre-litigation strategies, debt collection litigation, and dispute resolution methods available. <\/span><\/p>\n<\/div><\/section><\/p><\/div><div class='flex_column av-bmm5w-737f28be9bb008277e27311ae0eaf479 av_one_half  avia-builder-el-10  el_after_av_one_half  avia-builder-el-last  av-break-at-tablet flex_column_div '   ><style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-kscy8en7-c34d456dd40722410542c2ea337cc00b\">\n.avia-image-container.av-kscy8en7-c34d456dd40722410542c2ea337cc00b .av-image-caption-overlay-center{\ncolor:#ffffff;\n}\n<\/style>\n<div  class='avia-image-container av-kscy8en7-c34d456dd40722410542c2ea337cc00b av-styling- avia-align-center  avia-builder-el-11  avia-builder-el-no-sibling  radius_10 img'  itemprop=\"image\" itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/ImageObject\" ><div class=\"avia-image-container-inner\"><div class=\"avia-image-overlay-wrap\"><img decoding=\"async\" class='wp-image-13528 avia-img-lazy-loading-not-13528 avia_image' src=\"https:\/\/belaws.com\/thailand\/wp-content\/uploads\/2024\/05\/Debt-Repayment-in-Thailand.png\" alt='Investment opportunities in Thailand' title='Investment opportunities in Thailand'  height=\"800\" width=\"990\"  itemprop=\"thumbnailUrl\" srcset=\"https:\/\/belaws.com\/thailand\/wp-content\/uploads\/2024\/05\/Debt-Repayment-in-Thailand.png 990w, https:\/\/belaws.com\/thailand\/wp-content\/uploads\/2024\/05\/Debt-Repayment-in-Thailand-300x242.png 300w, https:\/\/belaws.com\/thailand\/wp-content\/uploads\/2024\/05\/Debt-Repayment-in-Thailand-768x621.png 768w, https:\/\/belaws.com\/thailand\/wp-content\/uploads\/2024\/05\/Debt-Repayment-in-Thailand-15x12.png 15w, https:\/\/belaws.com\/thailand\/wp-content\/uploads\/2024\/05\/Debt-Repayment-in-Thailand-495x400.png 495w, https:\/\/belaws.com\/thailand\/wp-content\/uploads\/2024\/05\/Debt-Repayment-in-Thailand-845x684.png 845w, https:\/\/belaws.com\/thailand\/wp-content\/uploads\/2024\/05\/Debt-Repayment-in-Thailand-705x570.png 705w, https:\/\/belaws.com\/thailand\/wp-content\/uploads\/2024\/05\/Debt-Repayment-in-Thailand-450x364.png 450w, https:\/\/belaws.com\/thailand\/wp-content\/uploads\/2024\/05\/Debt-Repayment-in-Thailand-600x485.png 600w\" sizes=\"(max-width: 990px) 100vw, 990px\" \/><\/div><\/div><\/div><\/div>\n\n<\/div><\/div><\/div><!-- close content main div --><\/div><\/div>\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-kscyoqk4-666a58ff317ddf61a5914fb400fd87f4\">\n.avia-section.av-kscyoqk4-666a58ff317ddf61a5914fb400fd87f4{\nbackground-color:#fafafa;\n}\n<\/style>\n<div id='av_section_2'  class='avia-section av-kscyoqk4-666a58ff317ddf61a5914fb400fd87f4 main_color avia-section-default avia-no-border-styling  avia-builder-el-12  el_after_av_section  el_before_av_section  avia-bg-style-scroll container_wrap sidebar_right'  ><div class='container av-section-cont-open' ><div class='template-page content  av-content-small alpha units'><div class='post-entry post-entry-type-page post-entry-13527'><div class='entry-content-wrapper clearfix'>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-ksd2ivxm-023071e5c33e5c283329416739e1beb3\">\n#top .hr.hr-invisible.av-ksd2ivxm-023071e5c33e5c283329416739e1beb3{\nheight:60px;\n}\n<\/style>\n<div  class='hr av-ksd2ivxm-023071e5c33e5c283329416739e1beb3 hr-invisible  avia-builder-el-13  el_before_av_two_third  avia-builder-el-first  av-medium-hide av-small-hide av-mini-hide'><span class='hr-inner '><span class=\"hr-inner-style\"><\/span><\/span><\/div>\n<div class='flex_column av-fpevw-aab8acce1826d370629f645f34d6bd3b av_two_third  avia-builder-el-14  el_after_av_hr  el_before_av_one_third  first av-break-at-tablet flex_column_div '   ><style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-lb329d7d-3f950f02b294bfa39eeb1b805d8d23d3\">\n#top .av_textblock_section.av-lb329d7d-3f950f02b294bfa39eeb1b805d8d23d3 .avia_textblock{\ncolor:#ffffff;\n}\n<\/style>\n<section  class='av_textblock_section av-lb329d7d-3f950f02b294bfa39eeb1b805d8d23d3'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock post_text_highlighting av_inherit_color'  itemprop=\"text\" ><p style=\"text-align: left;\">Key points<\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Pre-litigation debt recovery involves negotiations and attempts to recollect debts before litigation.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Debt collection litigation filing a written complaint with the Court of First Instance if pre-litigation efforts fail. A full trial may follow if an agreement is unlikely.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">After obtaining a court judgement, creditors may enforce it if the debtor fails to comply.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Dispute resolution methods available include negotiation and arbitration.<\/span><\/li>\n<\/ul>\n<\/div><\/section><br \/>\n<section  class='av_textblock_section av-kscytnto-6f8bd4ca8aa4b5f4311495ee3b7802c6'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock h2_bleu_post'  itemprop=\"text\" ><h2>What is Debt Repayment?<\/h2>\n<\/div><\/section><br \/>\n<section  class='av_textblock_section av-8ohy4-ba2bc652f51fc02aca7b4faa3ec86cd2'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock text_16'  itemprop=\"text\" ><p><span style=\"font-weight: 400;\">Debt repayment is the process of pursuing payments of debts owed by individuals or businesses. When someone borrows money or owes a financial obligation to a creditor, such as a supplier or service provider they are expected to repay the outstanding amount along with any applicable interest and fees. If the debtor fails to make timely payments, the creditor may look to recover the outstanding amount.<\/span><\/p>\n<\/div><\/section><br \/>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-893pgz-417cf0891102d15fa8bff673921feb47\">\n#top .hr.hr-invisible.av-893pgz-417cf0891102d15fa8bff673921feb47{\nheight:30px;\n}\n<\/style>\n<div  class='hr av-893pgz-417cf0891102d15fa8bff673921feb47 hr-invisible  avia-builder-el-18  el_after_av_textblock  el_before_av_textblock  av-medium-hide av-small-hide av-mini-hide'><span class='hr-inner '><span class=\"hr-inner-style\"><\/span><\/span><\/div><br \/>\n<section  class='av_textblock_section av-lvf10xj5-b09b16668f3804b347724270fe5e645e'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock h2_bleu_post'  itemprop=\"text\" ><h2>The Debt Collection Act in Thailand<\/h2>\n<\/div><\/section><br \/>\n<section  class='av_textblock_section av-lvf114wj-49d92afca071916131f83a41fb711334'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock text_16'  itemprop=\"text\" ><p><span style=\"font-weight: 400;\">The Debt Collection Act, B.E. 2558, aims to protect the rights of debtors and prevent amoral collection tactics by creditors. The Act applies to all debt collectors, including private creditors and organizations.<\/span><\/p>\n<\/div><\/section><br \/>\n<section  class='av_textblock_section av-lwesl6r7-43716df02409a1ccfd5376120b20c5e6'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock text_16'  itemprop=\"text\" ><p><span style=\"font-weight: 400;\">Under this Act, debtors are responsible for contract costs, delivery of property costs, and return of property costs. The law also sets a maximum legal interest rate of 15% annually, with exceptions for commercial loans and agreements specifying compound interest. The Act provides guidelines for fair and ethical debt collection practices, ensuring a more transparent and regulated process.<\/span><\/p>\n<\/div><\/section><br \/>\n<section  class='av_textblock_section av-lwj0o5s0-781bbbdb9518d8ef27ebb5cd25c9abd3'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock text_16'  itemprop=\"text\" ><p><span style=\"font-weight: 400;\">The Debt Collection Act in Thailand also plays an important role in protecting the rights of both creditors and debtors. The Act prohibits amoral collection tactics, ensuring that debtors are treated fairly and ethically throughout the debt recovery process. Creditors have the right to pursue debt collection as long as they follow guidelines established\u00a0 by the Act, promoting a balanced and regulated approach to debt recovery.<\/span><\/p>\n<\/div><\/section><br \/>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-3eadsn2-3c852ca1071a0ea83d44caec4b288bb3\">\n#top .hr.hr-invisible.av-3eadsn2-3c852ca1071a0ea83d44caec4b288bb3{\nheight:30px;\n}\n<\/style>\n<div  class='hr av-3eadsn2-3c852ca1071a0ea83d44caec4b288bb3 hr-invisible  avia-builder-el-23  el_after_av_textblock  el_before_av_textblock  av-medium-hide av-small-hide av-mini-hide'><span class='hr-inner '><span class=\"hr-inner-style\"><\/span><\/span><\/div><br \/>\n<section  class='av_textblock_section av-gfh9xy-e0bde1d55d8468f28ed18b9996433e48'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock h2_bleu_post'  itemprop=\"text\" ><h2>What Happens if a Company is Still Awaiting Outstanding Payment of a Debt but Wishes to Close?<\/h2>\n<\/div><\/section><br \/>\n<section  class='av_textblock_section av-lodoxqvz-6a45f69df973eb89afb9398d18b23e8a'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock text_16'  itemprop=\"text\" ><p><span style=\"font-weight: 400;\">When seeking to close or liquidate a company in Thailand with outstanding income receivables (money owed to the company), it becomes very important for companies to collect these debts.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If the debtor doesn\u2019t willingly or cannot pay back their outstanding debts, the creditor may undertake the following process in order to seek payment.<\/span><\/p>\n<\/div><\/section><br \/>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-unld5v-98f2ab2d684b4329b679e9b710d3f8f6\">\n#top .hr.hr-invisible.av-unld5v-98f2ab2d684b4329b679e9b710d3f8f6{\nheight:30px;\n}\n<\/style>\n<div  class='hr av-unld5v-98f2ab2d684b4329b679e9b710d3f8f6 hr-invisible  avia-builder-el-26  el_after_av_textblock  el_before_av_textblock  av-medium-hide av-small-hide av-mini-hide'><span class='hr-inner '><span class=\"hr-inner-style\"><\/span><\/span><\/div><br \/>\n<section  class='av_textblock_section av-natw6k-402c285c06b72f669a6a84b60aa4c8b2'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock h2_bleu_post'  itemprop=\"text\" ><h3>Debt Repayment Through the Courts<\/h3>\n<\/div><\/section><br \/>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-4qzzxz3-0e02a6d552d038e4fcae5a736c1a7e22\">\n#top .hr.hr-invisible.av-4qzzxz3-0e02a6d552d038e4fcae5a736c1a7e22{\nheight:30px;\n}\n<\/style>\n<div  class='hr av-4qzzxz3-0e02a6d552d038e4fcae5a736c1a7e22 hr-invisible  avia-builder-el-28  el_after_av_textblock  el_before_av_textblock  av-medium-hide av-small-hide av-mini-hide'><span class='hr-inner '><span class=\"hr-inner-style\"><\/span><\/span><\/div><br \/>\n<section  class='av_textblock_section av-lwesogi6-ae0057ad14e06fbb2283ca2b24b4c82b'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock text_16'  itemprop=\"text\" ><p><span style=\"font-weight: 400;\">When it comes to acquiring a business or company in Thailand, the most commonly utilised structure is the acquisition of shares. This approach offers flexibility, simplicity, and efficiency in transferring ownership and control. Share acquisition can be categorised into two main types:\u00a0<\/span><\/p>\n<ol>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">the acquisition of existing shares and\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">the acquisition of new shares.<\/span><\/li>\n<\/ol>\n<\/div><\/section><br \/>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-493dxb3-ef88fe4edfacc7a994e644088453a59e\">\n#top .hr.hr-invisible.av-493dxb3-ef88fe4edfacc7a994e644088453a59e{\nheight:30px;\n}\n<\/style>\n<div  class='hr av-493dxb3-ef88fe4edfacc7a994e644088453a59e hr-invisible  avia-builder-el-30  el_after_av_textblock  el_before_av_textblock  av-medium-hide av-small-hide av-mini-hide'><span class='hr-inner '><span class=\"hr-inner-style\"><\/span><\/span><\/div><br \/>\n<section  class='av_textblock_section av-lwesoyyf-107ffe3106990b6a11448ca381ed353e'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock h2_bleu_post'  itemprop=\"text\" ><h3>Acquisition of Existing Shares of a Company<\/h3>\n<\/div><\/section><br \/>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-40fcn5r-e5d5a7f4c2290e601ee8068b4ee2f8ba\">\n#top .hr.hr-invisible.av-40fcn5r-e5d5a7f4c2290e601ee8068b4ee2f8ba{\nheight:30px;\n}\n<\/style>\n<div  class='hr av-40fcn5r-e5d5a7f4c2290e601ee8068b4ee2f8ba hr-invisible  avia-builder-el-32  el_after_av_textblock  el_before_av_textblock  av-medium-hide av-small-hide av-mini-hide'><span class='hr-inner '><span class=\"hr-inner-style\"><\/span><\/span><\/div><br \/>\n<section  class='av_textblock_section av-lwespcfo-67ff7f89d21508a9d670ffee040aeb8f'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock text_16'  itemprop=\"text\" ><p><span style=\"font-weight: 400;\">Initiating a civil case against the debtor. In this situation a creditor files a civil lawsuit against a debtor in order to seek payment for the debt. If a debtor still fails to settle the debt after the\u00a0 judgement has been passed, the creditor can ask the court to enforce the judgement. Typically, a court will enforce the judgement by seizing and selling the debtor\u2019s assets through a public auction.<\/span><\/p>\n<\/div><\/section><br \/>\n<section  class='av_textblock_section av-lwesps5p-9a612ab974592838d3cc08f6d061ab0e'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock text_16'  itemprop=\"text\" ><p><span style=\"font-weight: 400;\">Thai Law governs debt recovery through the courts and establishes specific requirements for different debt amounts:\u00a0<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">For outstanding debts of up to 2,000 baht, a witness statement confirming the contract is sufficient.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">For amounts exceeding 2,000 baht, a written contract presented in court is necessary.\u00a0<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">The debt collection process should not involve compound interest, and debts can also be repaid in goods or real estate if agreed upon by both parties. Furthermore, both individuals and companies can initiate debt recovery proceedings in court.\u00a0<\/span><\/p>\n<\/div><\/section><br \/>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-cdxyhr-e0a08f34f072f7776c7c97238e7fcc17\">\n#top .hr.hr-invisible.av-cdxyhr-e0a08f34f072f7776c7c97238e7fcc17{\nheight:30px;\n}\n<\/style>\n<div  class='hr av-cdxyhr-e0a08f34f072f7776c7c97238e7fcc17 hr-invisible  avia-builder-el-35  el_after_av_textblock  el_before_av_textblock  av-medium-hide av-small-hide av-mini-hide'><span class='hr-inner '><span class=\"hr-inner-style\"><\/span><\/span><\/div><br \/>\n<section  class='av_textblock_section av-lwesqaau-85ef11c86e00278f4e683f3733e6182b'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock h2_bleu_post'  itemprop=\"text\" ><h3>Writing Off Debts<\/h3>\n<\/div><\/section><br \/>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-2ylqanz-04e3dbdfda0f0ce61ea2695e9aa14e0f\">\n#top .hr.hr-invisible.av-2ylqanz-04e3dbdfda0f0ce61ea2695e9aa14e0f{\nheight:30px;\n}\n<\/style>\n<div  class='hr av-2ylqanz-04e3dbdfda0f0ce61ea2695e9aa14e0f hr-invisible  avia-builder-el-37  el_after_av_textblock  el_before_av_textblock  av-medium-hide av-small-hide av-mini-hide'><span class='hr-inner '><span class=\"hr-inner-style\"><\/span><\/span><\/div><br \/>\n<section  class='av_textblock_section av-lu6foo7p-203a62348afa3a842e9a26bade92f662'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock text_16'  itemprop=\"text\" ><p><span style=\"font-weight: 400;\">If the outstanding income receivable is not a significant sum of money and the company is happy to write the debt off, they must ensure the following procedure has been satisfied in order to do so.<\/span><\/p>\n<\/div><\/section><br \/>\n<section  class='av_textblock_section av-lwessh23-1beba36c83a3462cc7c1ba1839b4fc3f'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock text_16'  itemprop=\"text\" ><table>\n<tbody>\n<tr>\n<td><b>Debt Owed<\/b><\/td>\n<td><b>Requirements for writing off debt<\/b><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Debt exceeding 2,000,000 THB<\/span><\/td>\n<td><span style=\"font-weight: 400;\">&#8211; Demands for payment must have been made and pursued to the appropriate extent.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">&#8211; Civil court action must have been taken against the debtor and a court order issued; or<\/span><\/p>\n<p><span style=\"font-weight: 400;\">&#8211; Bankruptcy court action must have been taken against the debtor and a court order issued.<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Debts less than 2,000,000 THB<\/span><\/td>\n<td><span style=\"font-weight: 400;\">&#8211; Demands for payment must have been made and pursued to the appropriate extent.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">&#8211; Civil court action must have been taken against the debtor and a court order issued; or<\/span><\/p>\n<p><span style=\"font-weight: 400;\">&#8211; Bankruptcy court action must have been taken against the debtor and a court order issued<\/span><\/p>\n<p><span style=\"font-weight: 400;\">&#8211; For the actions mentioned above, a corporate entity director must authorize the write-off of the debt within 30 days of the last day of the fiscal year.<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Debt less than 200,000 THB<\/span><\/td>\n<td><span style=\"font-weight: 400;\">&#8211; Demands for payment of the debt must have been made and pursued to the appropriate extent.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">&#8211; Court action to recover the debt would incur expenses greater than the amount expected to be recovered.<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><\/section><br \/>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-2fvpgpr-fb9133e66fe64c88f441610d164298fd\">\n#top .hr.hr-invisible.av-2fvpgpr-fb9133e66fe64c88f441610d164298fd{\nheight:30px;\n}\n<\/style>\n<div  class='hr av-2fvpgpr-fb9133e66fe64c88f441610d164298fd hr-invisible  avia-builder-el-40  el_after_av_textblock  el_before_av_textblock  av-medium-hide av-small-hide av-mini-hide'><span class='hr-inner '><span class=\"hr-inner-style\"><\/span><\/span><\/div><br \/>\n<section  class='av_textblock_section av-lwesxc07-dbc4614cd90637d6d1e1765eb2681900'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock h2_bleu_post'  itemprop=\"text\" ><h2>What are the typical stages of debt collection in Thailand?<\/h2>\n<\/div><\/section><br \/>\n<section  class='av_textblock_section av-lwesxmz8-d6a5f2cf83564daef4374681d5084331'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock text_16'  itemprop=\"text\" ><p><span style=\"font-weight: 400;\">When looking to recover an outstanding debt in Thailand, the following process is typically followed:<\/span><\/p>\n<\/div><\/section><br \/>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-6jws68n-08730acc05d5302851b84a77bef6eca7\">\n#top .hr.hr-invisible.av-6jws68n-08730acc05d5302851b84a77bef6eca7{\nheight:30px;\n}\n<\/style>\n<div  class='hr av-6jws68n-08730acc05d5302851b84a77bef6eca7 hr-invisible  avia-builder-el-43  el_after_av_textblock  el_before_av_textblock  av-medium-hide av-small-hide av-mini-hide'><span class='hr-inner '><span class=\"hr-inner-style\"><\/span><\/span><\/div><br \/>\n<section  class='av_textblock_section av-lwj0qshl-a5beb2f16256388fbff425e2404b6fdb'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock h2_bleu_post'  itemprop=\"text\" ><h3>Pre-Litigation Debt Recovery<\/h3>\n<\/div><\/section><br \/>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-68qffmf-13238c5119accec419acf74daf1701fb\">\n#top .hr.hr-invisible.av-68qffmf-13238c5119accec419acf74daf1701fb{\nheight:30px;\n}\n<\/style>\n<div  class='hr av-68qffmf-13238c5119accec419acf74daf1701fb hr-invisible  avia-builder-el-45  el_after_av_textblock  el_before_av_textblock  av-medium-hide av-small-hide av-mini-hide'><span class='hr-inner '><span class=\"hr-inner-style\"><\/span><\/span><\/div><br \/>\n<section  class='av_textblock_section av-lwesxv86-1caafa7d29901c058d08d36e7c58cd77'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock text_16'  itemprop=\"text\" ><p><span style=\"font-weight: 400;\">Before pursuing litigation, creditors often attempt pre-litigation debt recovery strategies. This includes attempting to recollect outstanding debts through negotiations and amicable settlements. Creditors may seek the assistance of experienced law firms specializing in debt recoveries to navigate this stage effectively.<\/span><\/p>\n<\/div><\/section><br \/>\n<section  class='av_textblock_section av-lwj0r3f1-d39f81934dbd11202fd402e3850966a8'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock text_16'  itemprop=\"text\" ><p><span style=\"font-weight: 400;\">One of the primary challenges in pre-litigation debt recovery is locating and contacting debtors who may have changed their address or engaged in restructuring or fraudulent bankruptcy. This phase typically involves sending demand letters, attempting to contact the debtor, or issuing payment notices to bring the debtor to attempt fair negotiations.<\/span><\/p>\n<\/div><\/section><br \/>\n<section  class='av_textblock_section av-lwj0r9jt-30c788c29cf57f3574e18bba84cd8fdd'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock text_16'  itemprop=\"text\" ><p><span style=\"font-weight: 400;\">The pre-litigation debt recovery phase ends either when successful negotiations result in a repayment schedule or when the debtor&#8217;s response is unresponsive, leading to the initiation of litigation proceedings.<\/span><\/p>\n<\/div><\/section><br \/>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-26ft3gf-337fc5c5eea01152e24bfa7913a694a8\">\n#top .hr.hr-invisible.av-26ft3gf-337fc5c5eea01152e24bfa7913a694a8{\nheight:30px;\n}\n<\/style>\n<div  class='hr av-26ft3gf-337fc5c5eea01152e24bfa7913a694a8 hr-invisible  avia-builder-el-49  el_after_av_textblock  el_before_av_textblock  av-medium-hide av-small-hide av-mini-hide'><span class='hr-inner '><span class=\"hr-inner-style\"><\/span><\/span><\/div><br \/>\n<section  class='av_textblock_section av-lwesy72r-72760793ea5bd6b4184552d83a7b44a9'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock h2_bleu_post'  itemprop=\"text\" ><h3>Debt Collection Litigation<\/h3>\n<\/div><\/section><br \/>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-5ln1qhj-b5f733dfd17122f6c36259983a57803d\">\n#top .hr.hr-invisible.av-5ln1qhj-b5f733dfd17122f6c36259983a57803d{\nheight:30px;\n}\n<\/style>\n<div  class='hr av-5ln1qhj-b5f733dfd17122f6c36259983a57803d hr-invisible  avia-builder-el-51  el_after_av_textblock  el_before_av_textblock  av-medium-hide av-small-hide av-mini-hide'><span class='hr-inner '><span class=\"hr-inner-style\"><\/span><\/span><\/div><br \/>\n<section  class='av_textblock_section av-lwj0ryux-f95aa384419285362324decaa5372c59'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock text_16'  itemprop=\"text\" ><p><span style=\"font-weight: 400;\">When pre-litigation efforts fail, creditors may proceed to debt collection litigation. This phase involves filing a written complaint with the Court of First Instance, outlining the nature of the claim, relief sought, and allegations. Key factors to consider when filing a complaint include the merits of the claim, case designation, court jurisdiction, and relevant parties.<\/span><\/p>\n<\/div><\/section><br \/>\n<section  class='av_textblock_section av-lwj0s7so-5f01b81d95739696261ffd9786824961'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock text_16'  itemprop=\"text\" ><p><span style=\"font-weight: 400;\">Thai courts often encourage parties to settle disputes through court-supervised mediation during the preliminary hearing. If a compromise is unlikely, the court may proceed to trial. In the event of an unsatisfactory judgement, the creditor may appeal to the Appeals Court within a month of the Court of First Instance&#8217;s decision. The Supreme Court serves as the final authority for appeals.<\/span><\/p>\n<\/div><\/section><br \/>\n<section  class='av_textblock_section av-lwj0sece-e76a3fe14bb3b2026de8ae3dca78f7bc'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock text_16'  itemprop=\"text\" ><p><span style=\"font-weight: 400;\">If the claimant is successful, all debtors are jointly and severally required to pay the debt, including principal, interest, attorney&#8217;s fees, and court fees. The litigation phase concludes either when negotiations result in an agreed-upon repayment schedule, or when the court issues a judgement that must be enforced.<\/span><\/p>\n<\/div><\/section><br \/>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-58eg8qf-a24eaedaee9448fabbb897de69fba1b0\">\n#top .hr.hr-invisible.av-58eg8qf-a24eaedaee9448fabbb897de69fba1b0{\nheight:30px;\n}\n<\/style>\n<div  class='hr av-58eg8qf-a24eaedaee9448fabbb897de69fba1b0 hr-invisible  avia-builder-el-55  el_after_av_textblock  el_before_av_textblock  av-medium-hide av-small-hide av-mini-hide'><span class='hr-inner '><span class=\"hr-inner-style\"><\/span><\/span><\/div><br \/>\n<section  class='av_textblock_section av-lwj0sr9e-293dba36cb1bc271743c644e66549722'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock h2_bleu_post'  itemprop=\"text\" ><h3>Post-Litigation Enforcement<\/h3>\n<\/div><\/section><br \/>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-4nh4h07-3316bff39d427fe2cf274b6dea8ad5ff\">\n#top .hr.hr-invisible.av-4nh4h07-3316bff39d427fe2cf274b6dea8ad5ff{\nheight:30px;\n}\n<\/style>\n<div  class='hr av-4nh4h07-3316bff39d427fe2cf274b6dea8ad5ff hr-invisible  avia-builder-el-57  el_after_av_textblock  el_before_av_textblock  av-medium-hide av-small-hide av-mini-hide'><span class='hr-inner '><span class=\"hr-inner-style\"><\/span><\/span><\/div><br \/>\n<section  class='av_textblock_section av-lwj0syu2-ed0de40a7e41827c28b0da64ecc9f55b'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock text_16'  itemprop=\"text\" ><p><span style=\"font-weight: 400;\">After obtaining the judgement, the creditor may proceed with post-litigation enforcement if the debtor fails to comply with the court&#8217;s order. The creditor has the right to apply for the execution of the final judgement within ten years from the date of the judgement. In the case of a debtor&#8217;s death, the creditor may seek repayment from the deceased&#8217;s estate, including any life insurances.<\/span><\/p>\n<\/div><\/section><br \/>\n<section  class='av_textblock_section av-lwj0t3xw-4822997d2904a7390096f94c863bb7a1'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock text_16'  itemprop=\"text\" ><p><span style=\"font-weight: 400;\">Section 897 of Thailand&#8217;s Civil and Commercial Code allows creditors to seek payment of a debt from a deceased debtor&#8217;s insurance benefits when beneficiaries are unspecified. However, if beneficiaries are specified, creditors are entitled to only the amount of premiums paid by the assured.<\/span><\/p>\n<\/div><\/section><br \/>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-4dc5r6f-379ab06b00b88ad03edfce564f9abcf8\">\n#top .hr.hr-invisible.av-4dc5r6f-379ab06b00b88ad03edfce564f9abcf8{\nheight:30px;\n}\n<\/style>\n<div  class='hr av-4dc5r6f-379ab06b00b88ad03edfce564f9abcf8 hr-invisible  avia-builder-el-60  el_after_av_textblock  el_before_av_textblock  av-medium-hide av-small-hide av-mini-hide'><span class='hr-inner '><span class=\"hr-inner-style\"><\/span><\/span><\/div><br \/>\n<section  class='av_textblock_section av-lwj0tc8d-e53b6b32aef513be42c034e1072a5132'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock h2_bleu_post'  itemprop=\"text\" ><h2>Are there any Other Dispute Resolution Methods?<\/h2>\n<\/div><\/section><br \/>\n<section  class='av_textblock_section av-lwesyfmy-ddc0fb160f9c29ad8a2c9ced0625a1a7'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock text_16'  itemprop=\"text\" ><p><span style=\"font-weight: 400;\">Aside from litigation, there are alternative methods of addressing debt collection disputes. These methods can save time, costs, and maintain relationships between creditors and debtors. Four common dispute resolution methods include negotiation, mediation, collaborative practice, and arbitration.<\/span><\/p>\n<\/div><\/section><br \/>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-3wleic7-06ebf8c763a6b09867ed4138e676c629\">\n#top .hr.hr-invisible.av-3wleic7-06ebf8c763a6b09867ed4138e676c629{\nheight:30px;\n}\n<\/style>\n<div  class='hr av-3wleic7-06ebf8c763a6b09867ed4138e676c629 hr-invisible  avia-builder-el-63  el_after_av_textblock  el_before_av_textblock  av-medium-hide av-small-hide av-mini-hide'><span class='hr-inner '><span class=\"hr-inner-style\"><\/span><\/span><\/div><br \/>\n<section  class='av_textblock_section av-lwj0txqw-7c582741e4a038304b58c3dd4708a9e1'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock h2_bleu_post'  itemprop=\"text\" ><h3>Negotiation<\/h3>\n<\/div><\/section><br \/>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-3aloa3b-a2e709b854d5999a4d830bf50ba924ed\">\n#top .hr.hr-invisible.av-3aloa3b-a2e709b854d5999a4d830bf50ba924ed{\nheight:30px;\n}\n<\/style>\n<div  class='hr av-3aloa3b-a2e709b854d5999a4d830bf50ba924ed hr-invisible  avia-builder-el-65  el_after_av_textblock  el_before_av_textblock  av-medium-hide av-small-hide av-mini-hide'><span class='hr-inner '><span class=\"hr-inner-style\"><\/span><\/span><\/div><br \/>\n<section  class='av_textblock_section av-lwesyu9k-0e2762f7beb1bf50da70c924b805d7a0'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock text_16'  itemprop=\"text\" ><p><span style=\"font-weight: 400;\">Negotiation involves discussions between parties to reach an amicable resolution. A negotiator helps devise a possible solution that satisfies both parties&#8217; interests. Settlements reached through negotiation are not binding unless parties enter into a legally binding agreement with a repayment schedule.<\/span><\/p>\n<\/div><\/section><br \/>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-2ur6q8n-96d8d0ff8a163b2af5ae4728313a44c9\">\n#top .hr.hr-invisible.av-2ur6q8n-96d8d0ff8a163b2af5ae4728313a44c9{\nheight:30px;\n}\n<\/style>\n<div  class='hr av-2ur6q8n-96d8d0ff8a163b2af5ae4728313a44c9 hr-invisible  avia-builder-el-67  el_after_av_textblock  el_before_av_textblock  av-medium-hide av-small-hide av-mini-hide'><span class='hr-inner '><span class=\"hr-inner-style\"><\/span><\/span><\/div><br \/>\n<section  class='av_textblock_section av-lwj0ujev-8d9a9916052c170635eb8783161f8026'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock h2_bleu_post'  itemprop=\"text\" ><h3>Mediation<\/h3>\n<\/div><\/section><br \/>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-2ihat1z-8ca1c02f3d034e6c996b5c6eb1d11586\">\n#top .hr.hr-invisible.av-2ihat1z-8ca1c02f3d034e6c996b5c6eb1d11586{\nheight:30px;\n}\n<\/style>\n<div  class='hr av-2ihat1z-8ca1c02f3d034e6c996b5c6eb1d11586 hr-invisible  avia-builder-el-69  el_after_av_textblock  el_before_av_textblock  av-medium-hide av-small-hide av-mini-hide'><span class='hr-inner '><span class=\"hr-inner-style\"><\/span><\/span><\/div><br \/>\n<section  class='av_textblock_section av-lwesz6v1-67c09acff1b2f435c7f48ac8b135aea4'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock text_16'  itemprop=\"text\" ><p><span style=\"font-weight: 400;\">Mediation is an alternative dispute resolution method where a neutral third party assists in finding a resolution. The mediator facilitates negotiations but does not represent either party. Mediation can be effective when parties want to maintain their relationship and protect their privacy, especially regarding financial information.<\/span><\/p>\n<\/div><\/section><br \/>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-1lm42in-6b6e18d20c54b640f89d5d7ab4d0ec98\">\n#top .hr.hr-invisible.av-1lm42in-6b6e18d20c54b640f89d5d7ab4d0ec98{\nheight:30px;\n}\n<\/style>\n<div  class='hr av-1lm42in-6b6e18d20c54b640f89d5d7ab4d0ec98 hr-invisible  avia-builder-el-71  el_after_av_textblock  el_before_av_textblock  av-medium-hide av-small-hide av-mini-hide'><span class='hr-inner '><span class=\"hr-inner-style\"><\/span><\/span><\/div><br \/>\n<section  class='av_textblock_section av-lwj0v2vt-176c770c100c0c77023499ad3376fcb4'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock h2_bleu_post'  itemprop=\"text\" ><h3>Collaborative Practice<\/h3>\n<\/div><\/section><br \/>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-2ac2tmf-ed355ee31222f2612fdd0f392c3153f4\">\n#top .hr.hr-invisible.av-2ac2tmf-ed355ee31222f2612fdd0f392c3153f4{\nheight:30px;\n}\n<\/style>\n<div  class='hr av-2ac2tmf-ed355ee31222f2612fdd0f392c3153f4 hr-invisible  avia-builder-el-73  el_after_av_textblock  el_before_av_textblock  av-medium-hide av-small-hide av-mini-hide'><span class='hr-inner '><span class=\"hr-inner-style\"><\/span><\/span><\/div><br \/>\n<section  class='av_textblock_section av-lwj0vaqr-fa0beaa4858af517404afa6dc47f07f0'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock text_16'  itemprop=\"text\" ><p><span style=\"font-weight: 400;\">Collaborative practice is another form of negotiation where parties aim to reach a mutually acceptable settlement. Each party is represented by their lawyer, who aims to reduce any potential conflict, keep communications open and transparent, and achieve a fair solution. Collaborative practice can be a more efficient and cost-effective alternative to litigation.<\/span><\/p>\n<\/div><\/section><br \/>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-5wur7b-4d699edbf88ee0c2043be4668c6d154b\">\n#top .hr.hr-invisible.av-5wur7b-4d699edbf88ee0c2043be4668c6d154b{\nheight:30px;\n}\n<\/style>\n<div  class='hr av-5wur7b-4d699edbf88ee0c2043be4668c6d154b hr-invisible  avia-builder-el-75  el_after_av_textblock  el_before_av_textblock  av-medium-hide av-small-hide av-mini-hide'><span class='hr-inner '><span class=\"hr-inner-style\"><\/span><\/span><\/div><br \/>\n<section  class='av_textblock_section av-lwj0vnys-ea3c4c5bbc3337fd345c74bd49bea3fc'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock h2_bleu_post'  itemprop=\"text\" ><h3>Arbitration<\/h3>\n<\/div><\/section><br \/>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-1byj7lj-94e623d3776c7b9799c95ed146ee7aad\">\n#top .hr.hr-invisible.av-1byj7lj-94e623d3776c7b9799c95ed146ee7aad{\nheight:30px;\n}\n<\/style>\n<div  class='hr av-1byj7lj-94e623d3776c7b9799c95ed146ee7aad hr-invisible  avia-builder-el-77  el_after_av_textblock  el_before_av_textblock  av-medium-hide av-small-hide av-mini-hide'><span class='hr-inner '><span class=\"hr-inner-style\"><\/span><\/span><\/div><br \/>\n<section  class='av_textblock_section av-lweszprc-88be92899bd7c56ee755b5ec2dc15877'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock text_16'  itemprop=\"text\" ><p><span style=\"font-weight: 400;\">Arbitration is a dispute resolution method that is generally less strict and more flexible than litigation. One or more arbitrators, typically lawyers experienced in different types of disputes, are appointed to hear arguments and evidence. Arbitral awards are final and binding unless the parties agree otherwise.<\/span><\/p>\n<\/div><\/section><br \/>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-r571mf-c990a65a631421828e02eb2e3aa10cbf\">\n#top .hr.hr-invisible.av-r571mf-c990a65a631421828e02eb2e3aa10cbf{\nheight:30px;\n}\n<\/style>\n<div  class='hr av-r571mf-c990a65a631421828e02eb2e3aa10cbf hr-invisible  avia-builder-el-79  el_after_av_textblock  el_before_av_textblock  av-medium-hide av-small-hide av-mini-hide'><span class='hr-inner '><span class=\"hr-inner-style\"><\/span><\/span><\/div><br \/>\n<section  class='av_textblock_section av-ut6ue7-0b25481654894514db55861e2236f3ce'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock h2_bleu_post'  itemprop=\"text\" ><h2>How can Belaws help?<\/h2>\n<\/div><\/section><br \/>\n<section  class='av_textblock_section av-lwet11ir-8cd5ef07758d09491219252607f13c19'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock text_16'  itemprop=\"text\" ><p>For more information about debt repayment in Thailand, why not talk to one of our experts now?<\/p>\n<\/div><\/section><br \/>\n<div  class='avia-button-wrap avia-button-left  avia-builder-el-82  el_after_av_textblock  el_before_av_textblock  bouton-cta' ><a href=\"https:\/\/wa.me\/+66636955945\" class=\"avia-button av-2rocsm-ad93c683973fd17f09fcd73d6f5e78e0 avia-icon_select-yes-right-icon avia-size-large avia-position-left avia-color-theme-color\" target=\"_blank\" rel=\"noopener noreferrer\"><span class='avia_iconbox_title' >Talk to an expert<\/span><span class='avia_button_icon avia_button_icon_right' aria-hidden='true' data-av_icon='\uf232' data-av_iconfont='entypo-fontello'><\/span><\/a><\/div><br \/>\n<section  class='av_textblock_section av-202agu-c2abc468d489a64dbd7aa9abcb6a5ea1'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock text_16'  itemprop=\"text\" ><p>If you want to learn more about how our experts can help with your accounting and secretary needs, please click\u00a0<a href=\"https:\/\/belaws.com\/thailand\/accounting-secretary\/\" target=\"_blank\" rel=\"noopener\">here<\/a>. For more details about our incorporation services, please click<a href=\"https:\/\/belaws.com\/thailand\/incorporation\/\" target=\"_blank\" rel=\"noopener\">\u00a0here.<\/a><\/p>\n<\/div><\/section><br \/>\n<section  class='av_textblock_section av-q93pwe-6d5bb40d417741c03ce1e2231424ffaa'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock text_16'  itemprop=\"text\" ><p><em>Please note that this article is for information purposes only and <strong>does not constitute legal advice<\/strong>.<\/em><\/p>\n<\/div><\/section><br \/>\n<div  class='av-social-sharing-box av-l4rstf25-09aa8edfee9bfff0c66b62d8ea68b23c av-social-sharing-box-default  avia-builder-el-85  el_after_av_textblock  el_before_av_hr  av-social-sharing-box-fullwidth'><div class=\"av-share-box\"><h5 class='av-share-link-description av-no-toc '>Share this post<\/h5><ul class=\"av-share-box-list noLightbox\"><li class='av-share-link av-social-link-facebook' 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href=\"https:\/\/calendly.com\/vbapartners\/legalconsultation\" class=\"avia-button av-j4oxcr-e0ea6afbeeb7bdc081b7ce55f0ab0b6f avia-icon_select-yes-right-icon avia-size-large avia-position-center avia-color-theme-color\" target=\"_blank\" rel=\"noopener noreferrer\"><span class='avia_iconbox_title' >Book now<\/span><span class='avia_button_icon avia_button_icon_right' aria-hidden='true' data-av_icon='\ue871' data-av_iconfont='entypo-fontello'><\/span><\/a><\/div><br \/>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-1xgc7i-1f7cbfe8fdc424141cc6b6f218a09d50\">\n#top .hr.hr-invisible.av-1xgc7i-1f7cbfe8fdc424141cc6b6f218a09d50{\nheight:25px;\n}\n<\/style>\n<div  class='hr av-1xgc7i-1f7cbfe8fdc424141cc6b6f218a09d50 hr-invisible  avia-builder-el-93  el_after_av_button  el_before_av_textblock '><span class='hr-inner '><span class=\"hr-inner-style\"><\/span><\/span><\/div><br \/>\n<section  class='av_textblock_section av-p84k-4017eaf9b1649a60b0ff810854b78620'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock text_14'  itemprop=\"text\" ><p>Our consultations last for a period of up to 1 hour and are conducted by expert Lawyers who are fluent in English, French and Thai.<\/p>\n<p>Consultations can be hosted via WhatsApp or Video Conferencing software for your convenience. A consultation with one of our legal experts is undoubtedly the best way to get all the information you need and answer any questions you may have about your new business or project.<\/p>\n<\/div><\/section><br \/>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-kslm1kpi-e6d522183c5eda06f320ce62b63c40c6\">\n#top .hr.hr-invisible.av-kslm1kpi-e6d522183c5eda06f320ce62b63c40c6{\nheight:15px;\n}\n<\/style>\n<div  class='hr av-kslm1kpi-e6d522183c5eda06f320ce62b63c40c6 hr-invisible  avia-builder-el-95  el_after_av_textblock  el_before_av_codeblock  av-medium-hide av-small-hide av-mini-hide'><span class='hr-inner '><span class=\"hr-inner-style\"><\/span><\/span><\/div><br \/>\n<br \/>\n<br \/>\n<br \/>\n<br \/>\n<\/p><\/div>\n\n<\/div><\/div><\/div><!-- close content main div --><\/div><\/div>\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-l8ctxpd9-095dc0c75aa2de5329ec8b624b867e69\">\n.avia-section.av-l8ctxpd9-095dc0c75aa2de5329ec8b624b867e69{\nbackground-color:#dfeef6;\n}\n<\/style>\n<div id='av_section_3'  class='avia-section av-l8ctxpd9-095dc0c75aa2de5329ec8b624b867e69 main_color avia-section-default avia-no-border-styling  avia-builder-el-101  el_after_av_section  el_before_av_one_full  avia-bg-style-scroll container_wrap sidebar_right'  ><div class='container av-section-cont-open' ><div class='template-page content  av-content-small alpha units'><div class='post-entry post-entry-type-page post-entry-13527'><div class='entry-content-wrapper clearfix'>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-fyhro1-0cf30a10ffa966a21c55aed6dcf53641\">\n#top .hr.hr-invisible.av-fyhro1-0cf30a10ffa966a21c55aed6dcf53641{\nheight:50px;\n}\n<\/style>\n<div  class='hr av-fyhro1-0cf30a10ffa966a21c55aed6dcf53641 hr-invisible  avia-builder-el-102  el_before_av_textblock  avia-builder-el-first  av-desktop-hide av-medium-hide av-small-hide av-mini-hide'><span class='hr-inner '><span class=\"hr-inner-style\"><\/span><\/span><\/div>\n<section  class='av_textblock_section av-e8bwe9-42a5aa99fe46b76eb6bea8fd40de44ad'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock h3_bleu'  itemprop=\"text\" ><h3 style=\"text-align: left;\">Frequently asked questions<\/h3>\n<\/div><\/section>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-37pzrl-0e2130f093209067c90d3f6b04c2d251\">\n#top .hr.hr-invisible.av-37pzrl-0e2130f093209067c90d3f6b04c2d251{\nheight:50px;\n}\n<\/style>\n<div  class='hr av-37pzrl-0e2130f093209067c90d3f6b04c2d251 hr-invisible  avia-builder-el-104  el_after_av_textblock  el_before_av_toggle_container  av-desktop-hide'><span class='hr-inner '><span class=\"hr-inner-style\"><\/span><\/span><\/div>\n<div  class='togglecontainer av-lyqhc7tb-1505062ccae8ba1009dbcdc79d52213b  avia-builder-el-105  el_after_av_hr  avia-builder-el-last  av-accordion-style-2 toggle_close_all'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/FAQPage\" >\n<section class='av_toggle_section av-av_toggle-7b02b896809ca39b6c83bca13a1d5f60'  itemscope=\"itemscope\" itemprop=\"mainEntity\" itemtype=\"https:\/\/schema.org\/Question\" ><div role=\"tablist\" class=\"single_toggle\" data-tags=\"{All} \"  ><p data-fake-id='#toggle-id-1' class='toggler   '  itemprop=\"name\"  role='tab' tabindex='0' aria-controls='toggle-id-1'>What is Debt Repayment?<span class=\"toggle_icon\"><span class=\"vert_icon\"><\/span><span class=\"hor_icon\"><\/span><\/span><\/p><div id='toggle-id-1' class='toggle_wrap  '   itemscope=\"itemscope\" itemprop=\"acceptedAnswer\" itemtype=\"https:\/\/schema.org\/Answer\" ><div class='toggle_content invers-color '  itemprop=\"text\" ><p>Debt repayment is the process of paying back borrowed money or fulfilling a financial obligation to a creditor. This includes the principal amount, interest, and any applicable fees.<\/p>\n<\/div><\/div><\/div><\/section>\n<section class='av_toggle_section av-lyqhc6um-20ac76655f97681525ebc7cc6178a7a4'  itemscope=\"itemscope\" itemprop=\"mainEntity\" itemtype=\"https:\/\/schema.org\/Question\" ><div role=\"tablist\" class=\"single_toggle\" data-tags=\"{All} \"  ><p data-fake-id='#toggle-id-2' class='toggler   '  itemprop=\"name\"  role='tab' tabindex='0' aria-controls='toggle-id-2'>What is the Debt Collection Act in Thailand?<span class=\"toggle_icon\"><span class=\"vert_icon\"><\/span><span class=\"hor_icon\"><\/span><\/span><\/p><div id='toggle-id-2' class='toggle_wrap  '   itemscope=\"itemscope\" itemprop=\"acceptedAnswer\" itemtype=\"https:\/\/schema.org\/Answer\" ><div class='toggle_content invers-color '  itemprop=\"text\" ><p>The Debt Collection Act of 2558 (B.E. 2558) protects debtors from unfair practices and sets guidelines for ethical debt collection. It also establishes a maximum legal interest rate and allows for debt repayment in goods or real estate with mutual consent.<\/p>\n<\/div><\/div><\/div><\/section>\n<section class='av_toggle_section av-av_toggle-5168ddcc0b5e6d0792a3ce457e289bf6'  itemscope=\"itemscope\" itemprop=\"mainEntity\" itemtype=\"https:\/\/schema.org\/Question\" ><div role=\"tablist\" class=\"single_toggle\" data-tags=\"{All} \"  ><p data-fake-id='#toggle-id-3' class='toggler   '  itemprop=\"name\"  role='tab' tabindex='0' aria-controls='toggle-id-3'>What happens if a company is closing and has outstanding debts?<span class=\"toggle_icon\"><span class=\"vert_icon\"><\/span><span class=\"hor_icon\"><\/span><\/span><\/p><div id='toggle-id-3' class='toggle_wrap  '   itemscope=\"itemscope\" itemprop=\"acceptedAnswer\" itemtype=\"https:\/\/schema.org\/Answer\" ><div class='toggle_content invers-color '  itemprop=\"text\" ><p>The company can initiate a civil lawsuit against the debtor to recover the debt. If a judgment is obtained but the debtor fails to pay, the company can request the court to enforce the judgment by seizing and selling the debtor&#8217;s assets.<\/p>\n<\/div><\/div><\/div><\/section>\n<section class='av_toggle_section av-av_toggle-be8d2464b2ca4c2f69ebc2cf9f53278e'  itemscope=\"itemscope\" itemprop=\"mainEntity\" itemtype=\"https:\/\/schema.org\/Question\" ><div role=\"tablist\" class=\"single_toggle\" data-tags=\"{All} \"  ><p data-fake-id='#toggle-id-4' class='toggler   '  itemprop=\"name\"  role='tab' tabindex='0' aria-controls='toggle-id-4'>What are the stages of debt collection in Thailand?<span class=\"toggle_icon\"><span class=\"vert_icon\"><\/span><span class=\"hor_icon\"><\/span><\/span><\/p><div id='toggle-id-4' class='toggle_wrap  '   itemscope=\"itemscope\" itemprop=\"acceptedAnswer\" itemtype=\"https:\/\/schema.org\/Answer\" ><div class='toggle_content invers-color '  itemprop=\"text\" ><ol>\n<li>Pre-litigation Debt Recovery: This involves attempts to collect the debt amicably through negotiations and demand letters.<\/li>\n<li>Debt Collection Litigation: If negotiations fail, a lawsuit can be filed with the Court of First Instance. The court may attempt mediation before a trial.<\/li>\n<li>Post-Litigation Enforcement: If a judgment is obtained, the creditor can request the court to enforce it by seizing the debtor&#8217;s assets.<\/li>\n<\/ol>\n<\/div><\/div><\/div><\/section>\n<section class='av_toggle_section av-av_toggle-052b4276792cafbf23a09eb754614887'  itemscope=\"itemscope\" itemprop=\"mainEntity\" itemtype=\"https:\/\/schema.org\/Question\" ><div role=\"tablist\" class=\"single_toggle\" data-tags=\"{All} \"  ><p data-fake-id='#toggle-id-5' class='toggler   '  itemprop=\"name\"  role='tab' tabindex='0' aria-controls='toggle-id-5'>Are there alternative dispute resolution methods?<span class=\"toggle_icon\"><span class=\"vert_icon\"><\/span><span class=\"hor_icon\"><\/span><\/span><\/p><div id='toggle-id-5' class='toggle_wrap  '   itemscope=\"itemscope\" itemprop=\"acceptedAnswer\" itemtype=\"https:\/\/schema.org\/Answer\" ><div class='toggle_content invers-color '  itemprop=\"text\" ><p>Yes, several methods can save time and cost compared to litigation:<\/p>\n<ol>\n<li>Negotiation: Direct discussions between parties to reach a settlement.<\/li>\n<li>Mediation: A neutral third party facilitates negotiations but does not impose a solution.<\/li>\n<li>Collaborative Practice: Lawyers representing both parties work together for a fair settlement.<\/li>\n<li>Arbitration: A binding decision is made by appointed arbitrators after hearing arguments from both sides.<\/li>\n<\/ol>\n<\/div><\/div><\/div><\/section>\n<section class='av_toggle_section av-av_toggle-2ebaaa24c433fb3cc48110aa982adde3'  itemscope=\"itemscope\" itemprop=\"mainEntity\" itemtype=\"https:\/\/schema.org\/Question\" ><div role=\"tablist\" class=\"single_toggle\" data-tags=\"{All} \"  ><p data-fake-id='#toggle-id-6' class='toggler   '  itemprop=\"name\"  role='tab' tabindex='0' aria-controls='toggle-id-6'>What are the legal guidelines for debt collection in Thailand?<span class=\"toggle_icon\"><span class=\"vert_icon\"><\/span><span class=\"hor_icon\"><\/span><\/span><\/p><div id='toggle-id-6' class='toggle_wrap  '   itemscope=\"itemscope\" itemprop=\"acceptedAnswer\" itemtype=\"https:\/\/schema.org\/Answer\" ><div class='toggle_content invers-color '  itemprop=\"text\" ><p>The Debt Collection Act protects debtors from unfair practices and sets limits on interest rates and collection methods.<\/p>\n<ol>\n<li>Maximum interest rate: The legal maximum interest rate is 15% annually, with some exceptions.<\/li>\n<li>Fair debt collection practices: The Act prohibits harassment and unethical collection tactics.<\/li>\n<\/ol>\n<\/div><\/div><\/div><\/section>\n<\/div>\n<\/div><\/div><\/div><!-- close content main div --><\/div><\/div><div id='after_section_3'  class='main_color av_default_container_wrap container_wrap sidebar_right'  ><div class='container av-section-cont-open' ><div class='template-page content  av-content-small alpha units'><div class='post-entry post-entry-type-page post-entry-13527'><div class='entry-content-wrapper clearfix'><div class='flex_column av-qqtyiz-0d401a2ec3b1be9fe8b6b4ff052340e0 av_one_full  avia-builder-el-106  el_after_av_section  el_before_av_section  avia-builder-el-no-sibling  first flex_column_div '   ><section  class='av_textblock_section av-2jjczv-f8cba9213d57d135389f2377189c4f87'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock h2_bleu_post'  itemprop=\"text\" ><h2>Related articles<\/h2>\n<\/div><\/section><br \/>\n<div id='av-masonry-1' class='av-masonry av-2fkee3-b970494e7d673ea8fb9b1618f33acb9e noHover av-flex-size av-large-gap av-hover-overlay-active av-masonry-animation-active av-masonry-col-3 av-caption-always av-caption-style- av-masonry-entries '><div class=\"av-masonry-container isotope av-js-disabled\"><div class='av-masonry-entry isotope-item av-masonry-item-no-image '><\/div><a href=\"https:\/\/belaws.com\/thailand\/decreased-tax-rates-in-thailand\/\" id=\"av-masonry-1-item-7761\" data-av-masonry-item=\"7761\" class=\"av-masonry-entry isotope-item post-7761 post type-post status-publish format-standard has-post-thumbnail hentry category-legal tag-tax  av-masonry-item-with-image\" title=\"Decreased Tax Rates for Foreign Professionals\" itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\"><div class='av-inner-masonry-sizer'><\/div><figure class='av-inner-masonry main_color'><div class=\"av-masonry-outerimage-container\"><div class='av-masonry-image-container'   ><img decoding=\"async\" width=\"705\" height=\"570\" class=\"wp-image-7762 avia-img-lazy-loading-not-7762\"  src=\"https:\/\/belaws.com\/thailand\/wp-content\/uploads\/2022\/06\/Decreased-Tax-Rates-for-Foreign-Professionals-705x570.png\" title=\"Decreased Tax Rates for Foreign Professionals\" alt=\"Decreased Tax Rates for Foreign Professionals\" srcset=\"https:\/\/belaws.com\/thailand\/wp-content\/uploads\/2022\/06\/Decreased-Tax-Rates-for-Foreign-Professionals-705x570.png 705w, https:\/\/belaws.com\/thailand\/wp-content\/uploads\/2022\/06\/Decreased-Tax-Rates-for-Foreign-Professionals-600x485.png 600w, https:\/\/belaws.com\/thailand\/wp-content\/uploads\/2022\/06\/Decreased-Tax-Rates-for-Foreign-Professionals-300x242.png 300w, https:\/\/belaws.com\/thailand\/wp-content\/uploads\/2022\/06\/Decreased-Tax-Rates-for-Foreign-Professionals-768x621.png 768w, https:\/\/belaws.com\/thailand\/wp-content\/uploads\/2022\/06\/Decreased-Tax-Rates-for-Foreign-Professionals-495x400.png 495w, https:\/\/belaws.com\/thailand\/wp-content\/uploads\/2022\/06\/Decreased-Tax-Rates-for-Foreign-Professionals-845x684.png 845w, https:\/\/belaws.com\/thailand\/wp-content\/uploads\/2022\/06\/Decreased-Tax-Rates-for-Foreign-Professionals.png 990w\" sizes=\"(max-width: 705px) 100vw, 705px\" \/><\/div><\/div><figcaption class='av-inner-masonry-content site-background'><div class='av-inner-masonry-content-pos'><div class='av-inner-masonry-content-pos-content'><div class='avia-arrow'><\/div><h3 class='av-masonry-entry-title entry-title '  itemprop=\"headline\" >Decreased Tax Rates for Foreign Professionals<\/h3><div class='av-masonry-entry-content entry-content'  itemprop=\"text\" >29\/06\/2022<br \/>\r\nIn May 2022, the Royal Decree No. 743 B.E. 2565 (2022) issued under the Revenue Code announced decreased tax rates for foreign professionals.<\/div><span class='av-masonry-date meta-color updated'>June 29, 2022<\/span><span class=\"av-masonry-text-sep text-sep-author\">\/<\/span><span class='av-masonry-author meta-color author'><span class='fn'>by jonathan<\/span><\/span><\/div><\/div><\/figcaption><\/figure><\/a><!--end av-masonry entry--><a href=\"https:\/\/belaws.com\/thailand\/tax-avoidance-thailand-to-work-with-the-oecd\/\" id=\"av-masonry-1-item-7788\" data-av-masonry-item=\"7788\" class=\"av-masonry-entry isotope-item post-7788 post type-post status-publish format-standard has-post-thumbnail hentry category-legal tag-tax  av-masonry-item-with-image\" title=\"Thailand to work with the OECD to tackle international tax avoidance\" itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\"><div class='av-inner-masonry-sizer'><\/div><figure class='av-inner-masonry main_color'><div class=\"av-masonry-outerimage-container\"><div class='av-masonry-image-container'   ><img decoding=\"async\" width=\"705\" height=\"570\" class=\"wp-image-7791 avia-img-lazy-loading-not-7791\"  src=\"https:\/\/belaws.com\/thailand\/wp-content\/uploads\/2022\/06\/MLI-705x570.png\" title=\"Thailand to work with the OECD to tackle international tax avoidance\" alt=\"Thailand to work with the OECD to tackle international tax avoidance\" srcset=\"https:\/\/belaws.com\/thailand\/wp-content\/uploads\/2022\/06\/MLI-705x570.png 705w, https:\/\/belaws.com\/thailand\/wp-content\/uploads\/2022\/06\/MLI-600x485.png 600w, https:\/\/belaws.com\/thailand\/wp-content\/uploads\/2022\/06\/MLI-300x242.png 300w, https:\/\/belaws.com\/thailand\/wp-content\/uploads\/2022\/06\/MLI-768x621.png 768w, https:\/\/belaws.com\/thailand\/wp-content\/uploads\/2022\/06\/MLI-495x400.png 495w, https:\/\/belaws.com\/thailand\/wp-content\/uploads\/2022\/06\/MLI-845x684.png 845w, https:\/\/belaws.com\/thailand\/wp-content\/uploads\/2022\/06\/MLI.png 990w\" sizes=\"(max-width: 705px) 100vw, 705px\" \/><\/div><\/div><figcaption class='av-inner-masonry-content site-background'><div class='av-inner-masonry-content-pos'><div class='av-inner-masonry-content-pos-content'><div class='avia-arrow'><\/div><h3 class='av-masonry-entry-title entry-title '  itemprop=\"headline\" >Thailand to work with the OECD to tackle international tax avoidance<\/h3><div class='av-masonry-entry-content entry-content'  itemprop=\"text\" >30\/06\/2022<br \/>\r\nAs part of their responsibilities as a signatory the OECDs project to tackle international tax avoidance, Thailand has ratified the MLI.<\/div><span class='av-masonry-date meta-color updated'>July 1, 2022<\/span><span class=\"av-masonry-text-sep text-sep-author\">\/<\/span><span class='av-masonry-author meta-color author'><span class='fn'>by jonathan<\/span><\/span><\/div><\/div><\/figcaption><\/figure><\/a><!--end av-masonry entry--><a href=\"https:\/\/belaws.com\/thailand\/income-tax-exemptions\/\" id=\"av-masonry-1-item-8422\" data-av-masonry-item=\"8422\" class=\"av-masonry-entry isotope-item post-8422 post type-post status-publish format-standard has-post-thumbnail hentry category-legal category-corporate category-incorporation tag-accounting-and-secretary tag-tax tag-thailand  av-masonry-item-with-image\" title=\"Income tax exemptions on offer for investment in target companies\" itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\"><div class='av-inner-masonry-sizer'><\/div><figure class='av-inner-masonry main_color'><div class=\"av-masonry-outerimage-container\"><div class='av-masonry-image-container'   ><img decoding=\"async\" width=\"705\" height=\"570\" class=\"wp-image-8423 avia-img-lazy-loading-not-8423\"  src=\"https:\/\/belaws.com\/thailand\/wp-content\/uploads\/2022\/09\/Income-tax-exemptions-on-offer-for-investment-in-target-companies-705x570.png\" title=\"Income tax exemptions on offer for investment in target companies\" alt=\"Income tax exemptions on offer for investment in target companies\" srcset=\"https:\/\/belaws.com\/thailand\/wp-content\/uploads\/2022\/09\/Income-tax-exemptions-on-offer-for-investment-in-target-companies-705x570.png 705w, https:\/\/belaws.com\/thailand\/wp-content\/uploads\/2022\/09\/Income-tax-exemptions-on-offer-for-investment-in-target-companies-600x485.png 600w, https:\/\/belaws.com\/thailand\/wp-content\/uploads\/2022\/09\/Income-tax-exemptions-on-offer-for-investment-in-target-companies-300x242.png 300w, https:\/\/belaws.com\/thailand\/wp-content\/uploads\/2022\/09\/Income-tax-exemptions-on-offer-for-investment-in-target-companies-768x621.png 768w, https:\/\/belaws.com\/thailand\/wp-content\/uploads\/2022\/09\/Income-tax-exemptions-on-offer-for-investment-in-target-companies-495x400.png 495w, https:\/\/belaws.com\/thailand\/wp-content\/uploads\/2022\/09\/Income-tax-exemptions-on-offer-for-investment-in-target-companies-845x684.png 845w, https:\/\/belaws.com\/thailand\/wp-content\/uploads\/2022\/09\/Income-tax-exemptions-on-offer-for-investment-in-target-companies.png 990w\" sizes=\"(max-width: 705px) 100vw, 705px\" \/><\/div><\/div><figcaption class='av-inner-masonry-content site-background'><div class='av-inner-masonry-content-pos'><div class='av-inner-masonry-content-pos-content'><div class='avia-arrow'><\/div><h3 class='av-masonry-entry-title entry-title '  itemprop=\"headline\" >Income tax exemptions on offer for investment in target companies<\/h3><div class='av-masonry-entry-content entry-content'  itemprop=\"text\" >01\/09\/2022<br \/>\r\nIncome Tax exemptions have been made available to those who invest in targeted industries and companies.<\/div><span class='av-masonry-date meta-color updated'>September 1, 2022<\/span><span class=\"av-masonry-text-sep text-sep-author\">\/<\/span><span class='av-masonry-author meta-color author'><span class='fn'>by jonathan<\/span><\/span><\/div><\/div><\/figcaption><\/figure><\/a><!--end av-masonry entry--><\/div><\/div><br \/>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-mw4lq3-4d1f7b909685b16735a77d3969f438e4\">\n#top .hr.hr-invisible.av-mw4lq3-4d1f7b909685b16735a77d3969f438e4{\nheight:160px;\n}\n<\/style>\n<div  class='hr av-mw4lq3-4d1f7b909685b16735a77d3969f438e4 hr-invisible  avia-builder-el-109  el_after_av_masonry_entries  avia-builder-el-no-sibling '><span class='hr-inner '><span class=\"hr-inner-style\"><\/span><\/span><\/div><\/p><\/div><\/p>\n<\/div><\/div><\/div><!-- close content main div --><\/div><\/div>\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-l94jsj-fece82020c76855b981a9880bf2eccd9\">\n.avia-section.av-l94jsj-fece82020c76855b981a9880bf2eccd9{\nbackground-color:#dfeef6;\n}\n<\/style>\n<div id='av_section_4'  class='avia-section av-l94jsj-fece82020c76855b981a9880bf2eccd9 main_color avia-section-default avia-no-border-styling  avia-builder-el-110  el_after_av_one_full  el_before_av_postcontent  avia-bg-style-scroll container_wrap sidebar_right'  ><div class='container av-section-cont-open' ><div class='template-page content  av-content-small alpha units'><div class='post-entry post-entry-type-page post-entry-13527'><div class='entry-content-wrapper clearfix'>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-h7ba0z-1353f1c18f59ca2c232d97d941adde26\">\n#top 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Belaws is not a \"lawyer referral service\" and does not provide legal service or participate in any legal representation.\r\n<br>Belaws is not a law firm or a substitute for an attorney or a law firm. 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Debt repayment is an important part of business and financial transactions, ensuring that creditors receive the payments owed to them by 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