Showing 61 - 70 of 138
Realisation rules for zero-coupon notes
Business, Lawalliance Limited Company, Published on 19/05/2015
» Each business activity has its own timing for its own reasons, and the realisation of revenue and expenses for tax purposes is no exception. Under the Revenue Code, the "accrual basis" methodology always applies to the realisation of revenue and expenses for tax calculation unless a different basis is approved by the director-general. The accrual basis requires that:
Unusually rich? Then be prepared for a 'special' audit
Business, Lawalliance Limited Company, Published on 21/04/2015
» It's not a story that has attracted much attention, but the Revenue Department is being urged to start taking tax evasion by corrupt politicians much more seriously. The goal is to not only improve below-target tax collections but also prevent such politicians from using their ill-gotten gains to finance their next election campaigns.
Clearing up confusion over joint bank accounts
Business, Lawalliance Limited Company, Published on 07/04/2015
» The introduction of a new tax regime for unregistered partnerships this year has created a lot of anxiety for a lot of people. New legislation repealed an old rule that made it too easy for individuals to create separate taxable entities to reduce personal income tax liability.
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.
Rebranding a regional operating headquarters as an international HQ
Business, Lawalliance Limited Company, Published on 10/03/2015
» The regional operating headquarters (ROH) provisions that Thai tax authorities introduced in 2002 have never been popular, as they are difficult to understand and comply with. As a result, many businesses have bypassed Thailand and chosen Kuala Lumpur for their regional offices.
Capital increases under the microscope
Business, Lawalliance Limited Company, Published on 24/02/2015
» Over the last couple of years, tax practitioners have become increasingly aware of suspicious or shady transactions, especially those without a genuine intention, being challenged more frequently by the Revenue Department.
BoI special deduction could create a double-edged sword
Business, Lawalliance Limited Company, Published on 10/02/2015
» The promotional programme of the Board of Investment (BoI), with its tax incentives, has often been considered by business operators a potential source of tax indulgences to take advantage of. Complex rules must be followed to enjoy the incentives, one of which eliminates tax on dividends paid from profits from BoI-promoted operations. But beware of the distortions that can result when it comes to determining the net amount of dividends that can be paid tax-free.
New partnership rules and your 2014 tax return
Business, Lawalliance Limited Company, Published on 27/01/2015
» Right after Christmas Day, the government passed the Act Amending the Revenue Code (No.39) to abolish the exemption from personal income tax (PIT) for profits distributed by an unregistered partnership to its partners. The new Act took effect on Jan 1.
Share transfers and credible valuation methods
Business, Lawalliance Limited Company, Published on 13/01/2015
» Now that fiscal 2014 has ended for most businesses, those whose plans involve an internal restructuring of group shareholding should pay close attention to anything that involves pricing of shares if they want to lessen the risks of being assessed by the Revenue Department.
Grey areas in tax treatment of franchise fees
Business, Lawalliance Limited Company, Published on 16/12/2014
» Take a stroll through a city bustling with thousands of shops and malls and you can see clearly how the brands and logos of renowned shops, fashionable boutiques and restaurants can influence consumers. Aware of the power of brands, many entrepreneurs invest in franchises that allow them to use the decoration concepts and colours as well as the proprietary information and know-how of such brands.