Showing 1 - 10 of 13
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.
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.
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.
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.
Property Tax: more questions than answers under proposed law changes
Business, Lawalliance Limited Company, Published on 26/08/2014
» One major reform the National Council for Peace and Order (NCPO) is keen on carrying out involves the house and land tax regime. By taxing holdings of real property, the government can raise more revenue while reducing the gap between rich and poor. In short, the rich, who have more property, will have to pay more taxes. In addition, reforms could reduce the financial burden on local administrative bodies.
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.
New personal income rates too late for 2013?
Business, Lawalliance Limited Company, Published on 21/05/2013
» In December last year, the cabinet approved new personal income tax rates to help people deal with the higher cost of living resulting from several factors including the rise in the minimum wage, and to make Thai personal income tax rates more competitive relative to those in other Asian countries.
When car benefits become contentious
Business, Lawalliance Limited Company, Published on 20/11/2012
» Tax treatment of fringe benefits from employment always plays a key role for both employer and employee. It also can be the source of endless disputes between tax authorities and taxpayers. Once the fringe benefit is paid in kind, determination of the monetary value can be very subjective. It depends on the nature of each benefit, item by item, as well as the discretion of each tax official in each case.
Spouses now unchained by tax treatment
Business, Lawalliance Limited Company, Published on 17/07/2012
» Many couples when they marry start a family business together to build their future. The key rationale is that Thai personal income tax law recognises a married couple as a single taxable entity to prevent abuses.