Showing 81 - 90 of 138
Tax auditors snooping around pricey houses and cars
Business, Lawalliance Limited Company, Published on 01/07/2014
» There have been some interesting developments on the tax front since last week. As part of its ongoing reshuffle of senior officials, the National Council for Peace and Order shifted the director-general of the Customs Department to an inspector-general position at the Finance Ministry, effective immediately. The demotion was not unexpected, and more changes are likely to follow.
Dealing with Withholding Tax on Loan Syndication
Business, Lawalliance Limited Company, Published on 17/06/2014
» From a tax standpoint, the Thai branch of a foreign entity is the same juridical person as the head office. With that in mind, some readers might be curious how this concept would come into play in determining withholding tax liabilities in a cross-border financing transaction.
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.
Hidden issues in penalties and surcharges
Business, Lawalliance Limited Company, Published on 20/05/2014
» With the economy in decline and many organisations revising their forecasts for Thailand, imposing tax may already seem like a punishment. On top of the ordeal of paying tax, one should be aware that non-compliance could lead to even more expensive punishments.
Choosing the Right Price
Business, Lawalliance Limited Company, Published on 06/05/2014
» It is not always possible for everyone to please the taxman by charging what is considered to be the highest and best price upon entering into a transaction. Pricing strategies can be affected by various commercial factors, such as the benefits a business can derive from selling goods at a lower price to a reputable customer for marketing purposes or bargaining power.
Dealing with losses from liquidating a subsidiary under the new regulation
Business, Lawalliance Limited Company, Published on 22/04/2014
» While most people were busy keeping up with the movements of the National Anti-Corruption Commission last month, there was one important development from the Revenue Department that could affect a number of group companies. Specifically, Regulation No. Por. 146/2014, issued by the director-general on March 18, disallows the write-off of investment losses by a parent company in a subsidiary in the course of the liquidation process.
Taxing Group Term Life Policies
Business, Lawalliance Limited Company, Published on 25/03/2014
» If you plan to buy a life insurance policy on your own, it’s not much of a problem from the tax aspect. Of course, you need to think a bit if the premium you are paying actually qualifies for the tax deduction up to 100,000 baht per year. The real concern in this case is that you are using your after-tax money to buy it, which is not very effective tax planning.
Court ruling on guarantee fees should bring more fairness
Business, Lawalliance Limited Company, Published on 11/03/2014
» Given the unsettled political situation, the country risk for Thailand is certainly on the rise. In line with basic business principles of diversification to spread risk, the private sector starts looking for opportunities to move business offshore and set up overseas subsidies. With the formation of the Asean Economic Community less than two years away, such strategies make good sense.
Administrative law versus revenue assessment
Business, Lawalliance Limited Company, Published on 25/02/2014
» When the taxman issues an assessment notice demanding additional tax liability, most people tend to focus mainly on the tax issue and find a way to get around the Revenue Department. They often forget that, apart from the main dispute, there is the possibility that they can take advantage of protection mechanisms granted to them under administrative law as well.
Timing for zero-rated VAT comes under challenge
Business, Lawalliance Limited Company, Published on 11/02/2014
» One of the key rationales for Thailand in abolishing the business tax in 1992 was that zero-rated value-added tax (VAT) granted to exporters of goods under the VAT regime is commonly accepted by developed countries. It is applied in compliance with international standards and cannot be deemed an unfair subsidy – hence reducing the chance that Thai exporters could face countervailing duties in retaliation. For this reason, Section 80/1(1) of the applicable law simply states: