Showing 21 - 30 of 138
Missed a tax refund deadline? Don't lose hope
Business, Lawalliance Limited Company, Published on 10/01/2017
» Every provision in every piece of legislation has its own reason for being, and any act that contradicts the spirit of the law, even if carried out by a government body, is generally disallowed if it deprives a person of his or her rights. This principle is also applied in considering the time limit for a taxpayer to claim a tax refund.
Realisation of expenses under the 'canon of certainty'
Business, Lawalliance Limited Company, Published on 27/12/2016
» More than two centuries ago, Adam Smith set out the rule that equity, certainty, convenience and economy are the top four canons for a good tax system. But since government authorities tend to care less about these principles and more about collecting taxes, it's no surprise that confusion persists when it comes to realisation of expenses.
The tax cost base rules for share trades
Business, Lawalliance Limited Company, Published on 13/12/2016
» Trading shares is a common activity today because various authorities -- including the Revenue Department, the Stock Exchange of Thailand and the Securities and Exchange Commission -- have established clear guidelines for almost every aspect of the process. This helps put investors' minds at ease, as they feel they have enough knowledge to deal with most of the tax issues without difficulty. Unfortunately, this belief can be shaken when the guidelines do not strictly follow the fundamental provisions of the law.
When receivables are seized to pay off tax debts
Business, Lawalliance Limited Company, Published on 29/11/2016
» The government has been giving away a lot of tax packages -- not only as a new-year present but all year round. It started with a tax amnesty programme (without calling it an amnesty), and has also offered allowances for those who spend at Thai resorts during holidays, double deductions for new investments, and tax incentives for investors that take significant steps in contributing to technological growth.
When software value is liberated from royalty taxes
Business, Lawalliance Limited Company, Published on 15/11/2016
» It is amazing how ubiquitous software has become in the past few decades, becoming an essential part of everything from washing machines to mobile phones. Few people are aware, however, that there can be tax implications for some software that comes with the hardware they are paying for.
Another shockwave for real property
Business, Lawalliance Limited Company, Published on 01/11/2016
» It is undeniable that real property has taken the biggest hit from the tax policies of the current military government. The new gift and inheritance taxes focus on real property, while the new property tax is designed to correct the flaws of the House and Land Tax Act and to collect more revenue from properties used for commercial purposes as well as unused properties. The latter tax is expected to generate huge sums for the government.
Handling immovable properties within the family
Business, Lawalliance Limited Company, Published on 18/10/2016
» With the new land and building tax due to take effect from next year, in combination with the inheritance tax and changes to the Revenue Code on gifts from parents to children earlier this year, more people are attempting to manage their properties to save tax. Though it is everyone's lawful right to do tax planning, it is necessary to be aware of some relevant interpretations.
Taxing the giants of the digital economy
Business, Lawalliance Limited Company, Published on 04/10/2016
» As digital networks continue their relentless march, tax authorities are becoming equally determined to ensure that the new giants of 21st century business pay their fair share of taxes. Recent examples include the agreement by Google to pay tax of £130 million retrospectively to the UK government, and the European Commission's order that Ireland collect record-breaking back taxes of US$14.5 billion from Apple. Even Indonesia started a tax investigation into Google last month.
Broader interpretation boosts anti-avoidance rules
Business, Lawalliance Limited Company, Published on 20/09/2016
» Businesses seeking to structure cross-border transactions in ways that help them avoid paying tax are finding it more difficult as authorities worldwide step up information sharing. One such example is the Global Forum on Transparency and Exchange of Information for Tax Purposes, which is driven by the Organization for Economic Co-operation and Development and has 135 members. The cabinet recently approved Thailand's membership in the forum.
Taxable vs non-taxable reimbursements
Business, Lawalliance Limited Company, Published on 06/09/2016
» Most tax matters are all about sorting taxable income items from non-taxable ones. Whenever you receive a payment that is referred to in a contractual document as "reimbursement", it is important to realise that there is only a thin line between a genuine reimbursement and one that is regarded as disguised revenue for tax purposes.