Provisions and contingencies
Application of Thai Accounting Standard 19
However, if an entity would like to set up the
provision for employee benefits according to TAS 19,
the entity can do so but is required to apply the
standard in full.
Legal Severance Pay (‘LSP’)
The amount of LSP is determined in accordance with
the Labour Protection Act (1998) and is determined by
the years of service upon to reaching retirement age: