Thailand has published Royal Decree 689 in the Official Gazette, which amends the taxation of certain investment income for both individuals and legal entities. This includes that investment income derived from debt securities and mutual funds is subject to a 15% withholding tax rate in general, although income resulting from the transfer of investment units in specified mutual funds under the law governing securities and stock exchange are exempted. The Royal Decree entered into force on 13 November 2019.