Page 131 - Social Enterprise A New Business Paradigm for Thailand

Table 3.2 provides an overall comparison of legal frameworks across countries.

Thailand UK USA EU South Korea
National Policy on
SEs ✓ ✓ ✕ ✓ ✓
Legal Framework ✓ (only in states
Recognizing SEs ✓ ✓ enabling L3Cs) ✓ ✓
Tax Exemption for
charitable org. ✓ ✓ ✓ ✓ ✓

Income Tax ✓ (only for non-
profit- ✕ ✕ ✕ ✓
Exemption for SEs
distributing SEs)
Tax Reliefs for SE
Investors ✓ ✓ ✕ ✕ ✓
Law Recognizing
Benefit ✕ ✕ ✓ ✓ (only in some ✕
Corporations countries)
Government
Procurement Policy ✓ ✓ ✕ ✓ ✓

Compared to the countries examined in this study, as well as its ASEAN neighbors, Thailand
possesses policy frameworks and legal structures that are on par with, or comparable to, those
of other nations in promoting social enterprises. The key challenge, therefore, lies not in the
absence of foundational support, but in effectively translating the goals and intentions of the law
into practical implementation. Another critical issue is the need to develop additional supporting
regulations, such as financial instruments and legislation that would allow dormant assets, such
as long-inactive accounts, to be transferred and utilized for social and environmental benefit,

following the precedent set by the United Kingdom.

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