Showing 1 - 10 of 10
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.
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.
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» A change to the Revenue Code last year repealed the exemption of personal income tax (PIT) on profits distributed from a non-registered partnership and a body of persons.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.
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.
Inheritance tax bill needs a major rethink
Business, Lawalliance Limited Company, Published on 18/11/2014
» The public has had no chance even to glance at the draft inheritance tax (IHT) bill so far despite its farreaching implications. Most of the talk that has taken place has relied on hearsay information, creating more and more confusion as well as concern nationwide.
Changes in rules for gifttax and interest expenses
Business, Lawalliance Limited Company, Published on 07/10/2014
» The draft property tax bill has been completed and sent back to the Finance Ministry. Developments during the last two weeks have also given us a clearer picture of what the draft inheritance tax legislation could look like. There is no longer a 20% rate on amounts beyond 200 million baht, and the rate of 10% on assets exceeding 50 million baht has dominated the headlines.
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.
Tax reporting of OTC share transactions
Business, Lawalliance Limited Company, Published on 24/09/2013
» The government is currently struggling with an important decision as to whether it should increase the value-added tax (VAT) rate to cope with the need to cover the rising budget deficit. As the increase will certainly have a negative impact on living costs, raise inflation and reduce domestic consumption, some government officials favour expanding the tax base as much as possible in lieu of increasing the VAT rate.
Value-Added tax increase in exchange for tax cut
Business, Lawalliance Limited Company, Published on 14/08/2012
» Any move on corporate income tax (CIT) would more or less affect investment climate and the government's treasury.
Announcement of the Anti-Tax avoidance rules
Business, Lawalliance Limited Company, Published on 03/07/2012
» Like its Asean counterparts, the Thai government has gradually changed certain tax rules to cope with the expansion of business and investments when the Asean Economic Community (AEC) comes into effect.