Showing 1 - 10 of 14
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.
New tax legislation to comply with Fatca
Business, Lawalliance Limited Company, Published on 16/05/2017
» On March 4 last year, Thailand and the United States entered into an agreement to improve international tax compliance and to implement the Foreign Account Tax Compliance Act (Fatca), which Washington introduced in 2010 in an attempt to discourage tax evasion by US citizens holding assets abroad.
Tougher measures against tax dodgers
Business, Lawalliance Limited Company, Published on 21/02/2017
» The world is entering a new era in which national tax authorities are joining hands to set up a system to hound those who dodge paying their fair share of tax by applying unacceptable tax-planning schemes.
When receivables are seized to pay off tax debts
Business, Lawalliance Limited Company, Published on 29/11/2016
» The government has been giving away a lot of tax packages -- not only as a new-year present but all year round. It started with a tax amnesty programme (without calling it an amnesty), and has also offered allowances for those who spend at Thai resorts during holidays, double deductions for new investments, and tax incentives for investors that take significant steps in contributing to technological growth.
When software value is liberated from royalty taxes
Business, Lawalliance Limited Company, Published on 15/11/2016
» It is amazing how ubiquitous software has become in the past few decades, becoming an essential part of everything from washing machines to mobile phones. Few people are aware, however, that there can be tax implications for some software that comes with the hardware they are paying for.
Taxing the giants of the digital economy
Business, Lawalliance Limited Company, Published on 04/10/2016
» As digital networks continue their relentless march, tax authorities are becoming equally determined to ensure that the new giants of 21st century business pay their fair share of taxes. Recent examples include the agreement by Google to pay tax of £130 million retrospectively to the UK government, and the European Commission's order that Ireland collect record-breaking back taxes of US$14.5 billion from Apple. Even Indonesia started a tax investigation into Google last month.
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.
How does the Panama leak affect you?
Business, Lawalliance Limited Company, Published on 19/04/2016
» If not for the Songkran festival, the news that 16 Thai names were on the infamous Panama Papers list might have got more attention. However, more worrisome is the Offshore Leaks Database, first released by the International Consortium of Investigative Journalists in 2013. It exposes the names of more than 750 Thailand-based people and entities, Thai and foreign, that are or have been connected with offshore tax-planning structures, mostly in the British Virgin Islands and Panama.
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.
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.