On 9 October 2018, the Thai Cabinet approved the introduction of the International Business Center (IBC) regime, which will replace the current International Headquarters regime, the Regional Headquarters regime, the Treasury Center regime, and the International Trading Center regime, all of which have been found harmful as part of the OECD review in relation to BEPS Action 5. The IBC regime must now be approved by Thailand's National Assembly (parliament). Qualifying companies under the new IBC regime will be eligible for a number of benefits/incentives, including: Reduced corporate tax rates on qualifying service, treasury center, and royalty income based on...