Showing 31 - 40 of 71
Will the price-valuation rules change in the near future?
Business, Lawalliance Limited Company, Published on 22/09/2015
» Ever since Section 65 bis and Section 65 ter of the Revenue Code were created, most transactions, unless excluded from the tax regime, have been subject to tax based on transaction value. However, the law rarely accepts a transaction value lower than the "market value" and allows authorities to assess additional tax based on "imputed revenue", which is on a par with the market value.
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.
Treatment of investment in accounts receivable challenged
Business, Lawalliance Limited Company, Published on 11/08/2015
» The year 1997 was one of the most important in the economic history of Thailand. Not only did the world taste the Tom Yum Kung crisis, but some people in Thailand discovered a new line of business that brought some of them great wealth. We're taking about investing in distressed assets.
Double taxation in the AEC and tax credits in Thailand
Business, Lawalliance Limited Company, Published on 14/07/2015
» The long-awaited formation of the Asean Economic Community (AEC) is just over five months away. Drawn by the promise of a freer flow of goods, services, investment, capital and skilled labour, many businesses are looking to expand into neighbouring countries. Of course, doing so will entail new taxes in other countries and businesses need to study how to prevent or reduce the effects of double taxation.
Involuntary partnership tax on sales of land highlighted
Business, Lawalliance Limited Company, Published on 30/06/2015
» A change to the Revenue Code last year repealed the exemption of personal income tax (PIT) on profits distributed from a non-registered partnership and a body of persons. It put an end to one of the most abusive tax-planning schemes used by the wealthy. However, it has also created onerous tax liabilities for individuals who have no choice but to run a business via such vehicles.
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.
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.
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.
Changing the rules for a partnership and a body of persons
Business, Lawalliance Limited Company, Published on 02/12/2014
» The draft inheritance tax and gift tax legislation continues to cause a lot of discomfort among those who have had a chance to review it. One area of great concern is the tax could be extended to movable properties such as jewellery, amulets, art collections and gold, as the draft empowers the government to impose tax on all types of properties including those outside Thailand. At the same time, it also allows the government to issue a ministerial regulation to limit the scope of the term "movable properties" as appropriate, but details of this remain unknown.