The Bank of Thailand (BOT) announced that as of 26 March 2011 all businesses in Thailand with import or export operations, overseas investments or liabilities, or investments from overseas investors at or above a specified threshold are required to submit reports on their foreign currency transactions and other financial matters with the BOT on a regular basis.  These reporting requirements apply to juristic entities (including branches, representative offices, partnerships and joint ventures) as well as natural persons doing business in Thailand.  An entity or individual which meets one or more of the BOT’s reporting thresholds listed in the table below may be required to provide details on the various currencies used in its operations for lending and borrowing and its methods of payment, as well as information on capitalization, profitability, investments, dividends and other financial matters.  The reporting thresholds, filing frequencies and filing deadlines are as follows:

A “quarter” and “year” are with respect to a normal calendar year and not the juristic person’s fiscal year.  A person or entity that does not meet any of the above qualifications may be randomly selected by the BOT to submit a report.  A failure to prepare and submit a required report could result in a maximum fine of Baht 100,000 per occurrence.