Showing 41 - 50 of 138
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.
Bonuses as a prohibited deductible expenditure
Business, Lawalliance Limited Company, Published on 09/02/2016
» To an employee who performs work with passion and pride, the year-end bonus (or special remuneration in whatever form) not only means extra wealth but also signifies how his or her work has been valued.
When will a liquidator be released from tax liability?
Business, Lawalliance Limited Company, Published on 26/01/2016
» When a life ends, whether that of a person or a business, it does not mean tax liability will also end. Dissolution and liquidation of a company are part of many corporate reorganisations, and in our experience this often requires the liquidator to make a speedy distribution of cash and other assets to shareholders. Thus, it is necessary for the liquidator to understand what he has got himself into.
The government's tax amnesty scheme: Is it the real deal?
Business, Lawalliance Limited Company, Published on 12/01/2016
» Many small businesses had something extra to celebrate at the New Year with the surprise announcement of a tax amnesty scheme. “Amnesty” is a word the director-general of the Revenue Department refused to use in a recent interview, stressing anyone breaching the conditions could face an investigation later. Given the broad scope of the law, all small and medium-sized enterprises (SMEs) must understand what is involved.
What is contained in the Thai-Irish Double Taxation Treaty?
Business, Lawalliance Limited Company, Published on 29/12/2015
» Many of you may be busy this week spending 15,000 baht to qualify for the government's "gift" of tax savings before Dec 31. Overlooked in the holiday rush by all but a few businesses may be another important gift from the government -- a tax treaty between Thailand and Ireland.
Significant changes in the new Thai-Singaporean tax treaty
Business, Lawalliance Limited Company, Published on 15/12/2015
» Ever since Thailand and Singapore signed a new double-taxation treaty on June 11, numerous publications have provided outlines of what has changed from the original treaty that has been in effect for 40 years.
New transfer pricing rule getting needed adjustment
Business, Lawalliance Limited Company, Published on 01/12/2015
» Looking back at tax developments over the past year, we've seen some promising incentives granted by the government and other developments that have caused taxpayer anxiety.
Making a tax appeal under new procedures
Business, Lawalliance Limited Company, Published on 17/11/2015
» In our previous article, we took a big-picture look at the forthcoming changes in tax appeal procedures at the court level. One of the main changes is an appeal against a judgement by the Central Tax Court must be made to the new Special Court of Appeal, and its judgement will be treated as final. Only in some exceptional cases will the litigant be able to appeal to the Supreme Court, which must grant permission for the filing first.
New era for tax appeals in the offing
Business, Lawalliance Limited Company, Published on 03/11/2015
» It is commonly known that tax disputes can take years to resolve, with the longest delays usually seen at the Supreme Court level. From the date a complaint is submitted to the Tax Court until the final judgement is rendered by the Supreme Court, it could take four to seven years.
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.