Showing 1 - 10 of 27
When the spirit of the law shines
Business, Lawalliance Limited Company, Published on 02/05/2017
» The current government has been trying very hard to make Thailand a jurisdiction that places more emphasis on substance and less on surface appearances. This is evident in recent legal reforms, but the attitudes of state authorities remain problematic. Many seem to believe that in order to be patriotic, the private sector must submit to any extra conditions that authorities impose above and beyond the legal framework.
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.
Handling immovable properties within the family
Business, Lawalliance Limited Company, Published on 18/10/2016
» With the new land and building tax due to take effect from next year, in combination with the inheritance tax and changes to the Revenue Code on gifts from parents to children earlier this year, more people are attempting to manage their properties to save tax. Though it is everyone's lawful right to do tax planning, it is necessary to be aware of some relevant interpretations.
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.
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.
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.
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.
Land and building tax bill requires greater clarity
Business, Lawalliance Limited Company, Published on 20/10/2015
» Life is getting interesting for taxpayers, with not only an inheritance tax and a new gift tax regime on the way but also a new property tax. The finance minister recently said the land and building tax bill would go before the cabinet very soon and take effect within the next two years. It could be more bad news for some residential property owners.
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.
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.