Showing 1 - 10 of 32
Choosing between a tax appeal and a tax refund
Business, Lawalliance Limited Company, Published on 19/09/2017
» You may be surprised to learn that some people do not always claim the preferable tax treatment offered by the government. This is not a surprise to those of us who deal with taxation professionally, as some tax officials interpret the law narrowly and impose extra conditions to prevent abusive transactions based on their understanding or attitudes.
Looking for tax incentives? Make sure you comply
Business, Lawalliance Limited Company, Published on 13/06/2017
» Tax incentives can be as sweet as honey, but making a mistake in compliance, inadvertently or otherwise, can leave a taste as bitter as gall. Corporate taxpayers have learned this painful lesson in light of court rulings on the tax treatment of losses carried forward from Board of Investment-promoted businesses.
Cross-shareholding rules and dividend tax exemptions clarified
Business, Lawalliance Limited Company, Published on 19/04/2017
» Most people are aware that there are two major types of double taxation for income tax purposes. The first is juridical double taxation, in which one taxpayer is taxed twice on the same amount of income by two different jurisdictions. This is normally dealt with in the context of double-taxation agreements.
Turning entrepreneurs into corporate entities
Business, Lawalliance Limited Company, Published on 07/03/2017
» February was a busy month in terms of new tax legislation. But this is just the beginning, as the director-general of the Revenue Department has also announced an ambitious plan to study extending Thailand's tax jurisdiction to overseas traders in cross-border e-commerce transactions. The idea is to generate tax revenue from online businesses, as the current legislation does not allow Thailand to tax foreign traders not doing business within the country.
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.
A closer look at the new Thailand-India tax treaty
Business, Lawalliance Limited Company, Published on 23/08/2016
» Businesses are increasingly seeking to avoid tax by exploiting gaps and mismatches in tax rules to artificially shift profits to low- or no-tax locations. Member states of the Organisation for Economic Co-operation and Development (OECD) have jointly set out action plans to address this problem. Some of these are reflected in the new Thailand-India Double Tax Treaty, which will take effect from Jan 1, 2017, replacing an accord that has been in force for 29 years.
Tax losses and BoI-promoted businesses: a cautionary tale
Business, Lawalliance Limited Company, Published on 31/05/2016
» All that glitters is not gold. While the tax incentives granted to businesses promoted by the Board of Investment (BoI) are dazzlingly attractive, ambiguities in the statutory provisions often bring about dreadful tax results in the end. Look no further than recent court cases involving carried-forward tax losses sustained by BoI-promoted projects.
New tax incentives aimed at summer spending sprees
Business, Lawalliance Limited Company, Published on 05/04/2016
» Once again, Thailand's hot summer has become the season for tax incentives. So much legislation has been coming out lately that it's difficult for taxpayers to ensure timely and accurate compliance.
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.
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.