Showing 1 - 10 of 19
Deductibility of guaranteed amounts by fund sponsors
Business, Lawalliance Limited Company, Published on 03/10/2017
» Property funds have long been popular with investors in Thailand, where the mutual-fund structure is being phased out and funds are being converted to real estate investment trusts or REITs. Raising funds from investors through such vehicles often involves a guarantee from the originator to increase confidence in the investment. This can be the starting point for problems on the tax front.
Understanding the tax liabilities of partners in an unincorporated joint venture
Business, Lawalliance Limited Company, Published on 27/06/2017
» In doing business via a joint venture, knowing the tax implications could help you avoid potentially perilous situations. This includes understanding corporate laws that may affect the tax liabilities of the partners.
The miracle of taxation
Business, Lawalliance Limited Company, Published on 21/03/2017
» Two hundred and forty years ago, the renowned economist Adam Smith set out four canons of taxation in The Wealth of Nations. A decent tax system, he wrote, should follow the standards of justice, certainty, convenience and economy.
Land and building tax bill requires greater clarity
Business, Lawalliance Limited Company, Published on 20/10/2015
» Life is getting interesting for taxpayers, with not only an inheritance tax and a new gift tax regime on the way but also a new property tax. The finance minister recently said the land and building tax bill would go before the cabinet very soon and take effect within the next two years. It could be more bad news for some residential property owners.
Fairer tax treatment on the cards for upfront rents
Business, Lawalliance Limited Company, Published on 28/07/2015
» Because it tends to increase continuously in value, real property has always been one of the most desirable investments. While some people have been fortunate enough to acquire properties in upscale areas, many others are competing to find sites speculated to be the next hot spot.
Involuntary partnership tax on sales of land highlighted
Business, Lawalliance Limited Company, Published on 30/06/2015
» A change to the Revenue Code last year repealed the exemption of personal income tax (PIT) on profits distributed from a non-registered partnership and a body of persons. It put an end to one of the most abusive tax-planning schemes used by the wealthy. However, it has also created onerous tax liabilities for individuals who have no choice but to run a business via such vehicles.
What really drives government tax policy?
Business, Lawalliance Limited Company, Published on 24/03/2015
» Soon after the National Council for Peace and Order appointed an interim government, Thais started hearing about ambitious tax reforms intended to improve income distribution and reduce the gap between rich and poor. It sounded good, and the government believed even without a rice-pledging scheme, it could gain trust from the grass roots since only the rich would see their expenses rise.
Property Tax: more questions than answers under proposed law changes
Business, Lawalliance Limited Company, Published on 26/08/2014
» One major reform the National Council for Peace and Order (NCPO) is keen on carrying out involves the house and land tax regime. By taxing holdings of real property, the government can raise more revenue while reducing the gap between rich and poor. In short, the rich, who have more property, will have to pay more taxes. In addition, reforms could reduce the financial burden on local administrative bodies.
Should You Pay for Deferred Tax Assets?
Business, Lawalliance Limited Company, Published on 03/06/2014
» If you are planning to take over a company by purchasing shares, you may determine its value based on the book value in the statutory accounts, or you may adopt the income approach. Regardless of your approach, the issue of “deferred tax assets” could come into play.
Local improvement tax may be due for a facelift
Business, Lawalliance Limited Company, Published on 08/10/2013
» Very often, whenever the government of Thailand needs more revenues, the question arises of possibly raising the value-added tax (VAT), or applying a new property tax, such as a Land and Construction Tax, to replace the House and Land Tax and the Local Improvement Tax. These always come back to haunt the taxpayers.