Showing 1 - 7 of 7
Determination of Section 40(8) income
Business, Lawalliance Limited Company, Published on 22/08/2017
» The government recently introduced a tax incentive programme to encourage individuals, including ordinary partnerships and groups of persons, to reorganise their businesses and operate them in the form of a company limited or a juristic partnership. This would make it easier to screen them for tax compliance, given the need to prepare statutory accounts.
Taxable vs non-taxable reimbursements
Business, Lawalliance Limited Company, Published on 06/09/2016
» Most tax matters are all about sorting taxable income items from non-taxable ones. Whenever you receive a payment that is referred to in a contractual document as "reimbursement", it is important to realise that there is only a thin line between a genuine reimbursement and one that is regarded as disguised revenue for tax purposes.
Expenses paid to 'unidentifiable' parties
Business, Lawalliance Limited Company, Published on 23/02/2016
» All business enterprises from time to time may encounter a situation in which they make payments to a recipient, but its identity cannot be proved to the satisfaction of tax authorities. We are not talking about a payment made in a sham transaction simply to receive a tax deduction but a payment that completely fulfils the cardinal rules such as those made on an arm's-length basis and exclusively spent for business purposes.
VAT complications for transport services
Business, Lawalliance Limited Company, Published on 08/09/2015
» Because transport forms a part of many business activities, much confusion can arise when calculating tax for a transaction that includes transport along with the sale of goods or provision of services.
BoI special deduction could create a double-edged sword
Business, Lawalliance Limited Company, Published on 10/02/2015
» The promotional programme of the Board of Investment (BoI), with its tax incentives, has often been considered by business operators a potential source of tax indulgences to take advantage of. Complex rules must be followed to enjoy the incentives, one of which eliminates tax on dividends paid from profits from BoI-promoted operations. But beware of the distortions that can result when it comes to determining the net amount of dividends that can be paid tax-free.
Big surprises await in revamped thailand singapore treaty
Business, Lawalliance Limited Company, Published on 30/07/2013
» After being in effect for more than 35 years, the Thailand-Singapore tax treaty is undergoing a major revamp.
The upcoming aec prompts rethink of thailand's tax approach
Business, Lawalliance Limited Company, Published on 17/01/2012
» In a globalised world like we're in today, going it alone is not a good idea. Few countries have the ability to bargain with others in the international arena on a one-on-one basis or to share with their neighbours resources such as geographical advantages, public facilities, raw materials, trade quotas, skilled labour, and tax and duty systems. This applies to Thailand and its fellow members of the Association of Southeast Asian Nations (Asean).