Showing 1 - 10 of 18
The importance of the effective date in tax laws
Business, Lawalliance Limited Company, Published on 08/08/2017
» The government of Prime Minister Prayut Chan-o-cha has passed a number of tax laws and regulations -- far more than its predecessors in the previous decade of political turmoil -- since coming to power in 2014. Keeping track of the enforcement of these new rules is complicated, as some have retroactive effect and some grant grace periods.
Changing rules for applying foreign tax credits
Business, Lawalliance Limited Company, Published on 12/07/2017
» One of the original principles outlined in the OECD Model Tax Convention is that no taxpayer should be taxed repeatedly on the same amount of income earned from a cross-border transaction. This situation is referred to as "juridical double taxation" -- where income is subject to taxes under the jurisdictions of more than one state.
Your RMF and the law: keep all your papers in order
Business, Lawalliance Limited Company, Published on 30/05/2017
» The great economist Adam Smith once outlined four canons of taxation, one of which is certainty, or as he put it: "The tax which each individual is bound to pay ought to be certain and not arbitrary." This means that where the law denotes what tax should be collected from the taxpayer, there should be no interpretation required to expand the scope of the tax to be collected.
When the spirit of the law shines
Business, Lawalliance Limited Company, Published on 02/05/2017
» The current government has been trying very hard to make Thailand a jurisdiction that places more emphasis on substance and less on surface appearances. This is evident in recent legal reforms, but the attitudes of state authorities remain problematic. Many seem to believe that in order to be patriotic, the private sector must submit to any extra conditions that authorities impose above and beyond the legal framework.
Tax deductibility of penalties and surcharges
Business, Lawalliance Limited Company, Published on 04/04/2017
» What would you do if one day a government body issued a ruling that set aside a guideline you were required to comply with, and another day it issued another ruling requiring you to do a different thing, potentially exposing you to wrongdoing? Unfortunately, that day appears to have arrived in the case of the Board of Taxation, a panel drawn from various respected government agencies, appointed and empowered under the Revenue Code to provide interpretations on tax matters.
The miracle of taxation
Business, Lawalliance Limited Company, Published on 21/03/2017
» Two hundred and forty years ago, the renowned economist Adam Smith set out four canons of taxation in The Wealth of Nations. A decent tax system, he wrote, should follow the standards of justice, certainty, convenience and economy.
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.
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.
CSR contributions and tax liability
Business, Lawalliance Limited Company, Published on 25/08/2015
» Every business entity is a part of society, and business growth is supported by the well-being of the community. For this reason, many companies return benefits to society by way of corporate social responsibility (CSR) projects -- for example, infrastructure providers such as water and electricity distributors often provide services free of charge to those who are needy.