The first nation in Southeast Asia to authorize the use of medicinal cannabis was Thailand in 2018. The action was welcomed as a significant advancement in the nation's initiatives to support the growth of its medicinal cannabis business, which has the potential to become a significant economic engine for the nation.
Accounting & Legal in Thailand
Any tax system must include withholding tax, and Thailand's tax system is no exception. The payer must withhold a portion of the payment under the withholding tax system and submit it to the tax authorities on behalf of the payment recipient. The timely and effective collection of tax income is ensured by this mechanism.
Any business operation requires fixed assets to function. The corporation has made a large investment in these assets, which are utilized to generate income. As a result, it's crucial to keep an accurate record of fixed assets.
