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Anti-Bribery and Anti-Corruption Compliance in Asia (Part 5)

– Thailand: Legal Framework for Anti-Bribery Law and Recent Key Whistleblower Protections in the Amended Anti-Corruption Law

Thailand is the second-largest economy in the ASEAN region and an important hub for trade and investment. Its strategic location and developed infrastructure have made it an attractive destination for many Japanese companies. However, the 2024 edition of the Corruption Perceptions Index (published annually by Transparency International), a widely recognized indicator of global corruption levels, ranks Thailand 107th out of 180 countries. This suggests that the risk of bribery in Thailand remains a concern. In this newsletter, we will provide an overview of the Anti-Bribery framework in Thailand, and the recent amendment to the Anti-Corruption Law, which introduced whistleblower protections. The primary legislation governing bribery issues in Thailand is the Organic Act on Anti-Corruption B.E. 2561 (2018) (“Organic Act”), which establishes a comprehensive legal framework...To read the full article, please see the PDF file

Asia & Corporate Crisis Management Newsletter Download PDF [270 KB]

Authors

井浪 敏史

Satoshi has worked at N&A’s Singapore office since July 2022 and has provided Japanese clients with headquarters in Japan or Singapore and other clients with legal support on crisis management/compliance, dispute resolution, labor and general corporate matters for their businesses operations in Southeast Asian countries.

Satoshi has also engaged in international construction and infrastructure projects and has advised on construction contracts, laws and regulations, and disputes in connection with projects in Japan and overseas.

ナッタロス・タンプラシ

Nuttaros Tangprasitti specialises in corporate and commercial law. She regularly assists both international and domestic corporate clients (limited liability companies and partnerships, stock corporation in several industries) on the relevant laws of Thailand, which includes foreign direct investment, legal due diligence, M&A and cross-border M&A, joint venture, compliance, banking and finance. In addition to supporting clients on the above and a multitude of different legal formalities, she also has expertise in advising on various investment promotion policies of the Board of Investment (BOI), as well as compliance with foreign business, other laws on salient points for shareholders and joint venture agreements, which includes laws on immigration and foreign work under Thai law. Nuttaros speaks at many seminars and takes an active role in educating the clients on issues relevant to their businesses and her practice areas. She also writes various articles and newsletters on cutting-edge topics in several legal areas, which are widely distributed to existing and potential clients. Nuttaros aims to ensure the lawyers on her team are constantly developing and upgrading their skills, to ensure they meet or exceed the high professional standards of Nishimura & Asahi. She is committed to ensuring that both she and our firm deliver top-quality services to our clients and strong internal support for our colleagues. She recently began drafting a manual on several aspects of Thai law, as part of an “Investment promotion scheme,” and also wrote several newsletters on corporate law, and banking and finance laws. She also recently authored an article on the impact of Tax Reduction for Land and Buildings, which received excellent feedback from our clients, particularly those who are land and building owners. Nuttaros is committed to building a strong and progressive corporate and commercial practice, which also incorporates tax law, by adapting to new ideas in the legal industry.

ナットラダ・ルアンウッティティクン

More than 6 years of experience engaging with SCL Nishimura & Asahi in Bangkok. Currently working in practice of finance, corporate and commercial (e.g. commercial contract drafting, full scale of corporate works: business incorporation, dissolution & liquidation, business and asset restructuring, M&A such as entire business transfer: EBT, partial business transfer: PBT, amalgamation, share subscription, share purchase, joint venture, and legal due diligence). Also, engaging in several speaker events as well as being visiting lecturer for Thai universities, namely, Bangkok University and Chiangmai University.

Graduated Master's Degree (LL.M.) in International Tax Law and EU Tax Law from Uppsala University, Sweden, under the offer and award from the Swedish Institute Study Scholarships 2017 (SISS), and LL.B in Business Law Major from Chulalongkorn University with honours.

Also, interested in business trends, investment, economics, cryptocurrencies and Web 3.0’s on-going global trend and its development e.g. blockchain, tokenomics and etc.