Company Law That Modern Entrepreneurs Should Know

Authors

  • Wannarat Karoonyavanich Leeco Kogyo Company Limited, Samut Prakan. Thailand.
  • Pramoch Thammakorn Department of Industrial Business and Human Resource Development, Faculty of Business and Industrial Development, King Mongkut’s University of Technology North Bangkok, Bangkok, Thailand

Keywords:

Company, Law, Entrepreneur

Abstract

This amendment to the Civil and Commercial Code Law No. 23 in 2022 is announced on November 8, 2022 and come to be effective on February 7, 2023, creates the change in the number of persons in the company registration which formerly needs 3 or more persons to do so, which have created the problems of finding other persons to join In order to register a company as well as the arising of the problem in running the company. In the change, the law has decreased the numbers of persons in the company registration from 3 to 2 persons which enable the company to register with 2 persons or more. The needs to set up a company come from the essential reasons of becoming juristic business and the advantages in the progressive income tax payments of juristic business and personal income. The law enforcement is comparable to Partnership Law.

References

Thai Definition. (2011). Royal Institute Dictionary 2011. Nanmeebooks. (in Thai).

Civil and Commercial Code. (1925, 11 November). Royal Gazette. Volume 42. page 1. (in Thai).

Prachachart. (2022, 6 December). Economic News in The Country. prachachart.net. https://www.prachachat.net/economy/news-1140176 (in Thai).

Civil and Commercial Code. (2022, 8 November). Royal Gazette. Volume 1, page 139. (in Thai).

Karoonyavanich, W. (2023, 11 June). Clear List of Laws FM 97. https://fb.watch/l50yx0xCEX/?mibextid=jf9HGS (in Thai).

Act Determining Offenses Relating to Registered Partnerships, Limited Partnerships, Limited Companies, Associations and Foundations, B.E. 2499 (1956, 15 November). Royal Gazette. Volume 73, Chapter 95, Page 172. (in Thai).

The Revenue Department. (2023, 13 June). Personal Income Tax Guide. The Revenue Department. https://www/rd.go.th/region/12 (in Thai).

The Revenue Department. (2023, 16 June). Income Tax Guide Juristic Person for SME Entrepreneurs. The Revenue Department. https://www.rd.go.th/fileadmin/user_upload/lorkhor/newsbanner/2022/CIT_SME.pdf (in Thai).

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Published

2023-10-04

How to Cite

Karoonyavanich, W., & Thammakorn, P. (2023). Company Law That Modern Entrepreneurs Should Know. Journal of Business and Industrial Development, 3(2), 96–107. retrieved from https://so15.tci-thaijo.org/index.php/Journalbid/article/view/172

Issue

Vol. 3 No. 2 (2023): May - August (2023)

Section

Academic Article

License

Creative Commons License

This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.