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E-payment and bank secrecy: what's next
Business, Lawalliance Limited Company, Published on 17/05/2016
» It has long been understood that a taxpayer has the right to a contractual arrangement that will allow him or her to incur the lowest tax cost where possible. Nothing in past constitutions or the new draft requires Thai nationals to choose a transaction that would expose the parties to the heaviest tax burden, as long as the transaction is within the law.
Expenses paid to 'unidentifiable' parties
Business, Lawalliance Limited Company, Published on 23/02/2016
» All business enterprises from time to time may encounter a situation in which they make payments to a recipient, but its identity cannot be proved to the satisfaction of tax authorities. We are not talking about a payment made in a sham transaction simply to receive a tax deduction but a payment that completely fulfils the cardinal rules such as those made on an arm's-length basis and exclusively spent for business purposes.