Showing 21 - 30 of 38
New year TAX update: Corporate reorganisation and others
Business, Lawalliance Limited Company, Published on 14/01/2014
» During the festive season, several new tax laws were passed quietly while all worried eyes were on Thailand's growing political uncertainty. The changes to the progressive rates for personal income tax, which offer lower tax brackets, have already been well publicised. However, the following developments are also worth studying:
Tax management amid political chaos
Business, Lawalliance Limited Company, Published on 03/12/2013
» Is anyone trying to convince you to join the anti-government protest by pursuing "civil disobedience" in not paying taxes? Regardless of whether the Yingluck Shinawatra government is your favourite or your lifelong hatred, no one can deny that the duty to pay tax is one of your commitments to this nation. If you decide not to do so, don't expect any amnesty law to release you from penalties and surcharges.
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.
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.
Critical TAX issues unresolved for reits
Business, Lawalliance Limited Company, Published on 02/07/2013
» With great efforts from a working team, the Securities and Exchange Commission seems ready for the launch of real estate investment trusts (REITs). Several property projects are in the pipeline pending the SEC's approval. The arrival of REITs also triggers a countdown for regular property funds (PFs), which have been in use for a long time.
The battle over boi tax treatment
Business, Lawalliance Limited Company, Published on 04/06/2013
» It is common nowadays to read about debates between the Finance Ministry and the Bank of Thailand over interest rates and economic figures. Similar spirited conversations have been taking place behind the scene about different topics between the Board of Investment (BoI) and the Revenue Department for quite some time.
Handling the 5% tax assessment
Business, Lawalliance Limited Company, Published on 07/05/2013
» In the real world, your company may come across a situation in which a financial statement cannot be signed off because of some problems. For example, conflict from changing the licensed auditor from one house to another often delays the audit process as the old one may refuse to cooperate and return necessary documents. Violating Securities and Exchange Commission rules, such as for a connected transaction, could also be the cause of postponing the completion of the financial statement until the problem can be resolved.
The withholding tax trap on bank fees
Business, Lawalliance Limited Company, Published on 23/04/2013
» It is commonly known that if a company needs to acquire loan financing from a bank, interest will not be the only cost. It is very likely you will be required to bear withholding tax on the interest costs payable to an offshore financial institution at a rate of 10% or 15%. This needs to be calculated on a gross-up basis (tax on tax), making the effective tax rates 11.11% or 17.65% respectively.
Tax impact from new accounting standards and what to expect
Business, Lawalliance Limited Company, Published on 26/03/2013
» Companies in Thailand this year are required to adopt three new Thai Accounting Standards (TAS) in preparing their financial statements, effective from Jan 1. They are: TAS 12 "Income Taxes"; TAS 20 "Accounting for Government Grants and Disclosure of Government Assistance"; and TAS 21 "The Effects of Changes in Foreign Exchange Rates". All will definitely have a direct impact on many companies.
Avoiding the pitfalls of real estate investment trusts
Business, Lawalliance Limited Company, Published on 29/01/2013
» Effective from Jan 1, 2013 onwards, Thailand has a new alternative investment vehicle, the Real Estate Investment Trust (REIT), which provides greater flexibility in managing real estate assets. Interestingly, the REIT can not only invest in Thailand but also in real assets situated abroad. As the baht gains against major currencies, the REIT seems to have come at the right time, just as foreign investors have been shifting funds here.