Showing 1 - 10 of 21
Deductibility of guaranteed amounts by fund sponsors
Business, Lawalliance Limited Company, Published on 03/10/2017
» Property funds have long been popular with investors in Thailand, where the mutual-fund structure is being phased out and funds are being converted to real estate investment trusts or REITs. Raising funds from investors through such vehicles often involves a guarantee from the originator to increase confidence in the investment. This can be the starting point for problems on the tax front.
Your RMF and the law: keep all your papers in order
Business, Lawalliance Limited Company, Published on 30/05/2017
» The great economist Adam Smith once outlined four canons of taxation, one of which is certainty, or as he put it: "The tax which each individual is bound to pay ought to be certain and not arbitrary." This means that where the law denotes what tax should be collected from the taxpayer, there should be no interpretation required to expand the scope of the tax to be collected.
New measures to improve well-being and business opportunities
Business, Lawalliance Limited Company, Published on 07/02/2017
» This year has started with some legislation aimed at improving tax treatment and allowances to enhance the well-being of people in general, and to add to Thailand's charm as a target for business investors.
The tax cost base rules for share trades
Business, Lawalliance Limited Company, Published on 13/12/2016
» Trading shares is a common activity today because various authorities -- including the Revenue Department, the Stock Exchange of Thailand and the Securities and Exchange Commission -- have established clear guidelines for almost every aspect of the process. This helps put investors' minds at ease, as they feel they have enough knowledge to deal with most of the tax issues without difficulty. Unfortunately, this belief can be shaken when the guidelines do not strictly follow the fundamental provisions of the law.
When receivables are seized to pay off tax debts
Business, Lawalliance Limited Company, Published on 29/11/2016
» The government has been giving away a lot of tax packages -- not only as a new-year present but all year round. It started with a tax amnesty programme (without calling it an amnesty), and has also offered allowances for those who spend at Thai resorts during holidays, double deductions for new investments, and tax incentives for investors that take significant steps in contributing to technological growth.
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.
Correcting flaws in the tax system: vote yes or no
Business, Lawalliance Limited Company, Published on 09/08/2016
» The referendum on the draft constitution has been staged successfully and the people have spoken. In the same spirit, perhaps it's time that the Revenue Department listened to the voices of troubled taxpayers and corrected some of its mistakes promptly and transparently.
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.
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.
Can inheritance tax work?
Business, Lawalliance Limited Company, Published on 09/09/2014
» Now that we have new cabinet ministers to drive the economy forward, the next expectation is for martial law to be lifted so that foreign investors and tourists can feel more comfortable about returning to Thailand. Meanwhile, the junta is determined to quickly show the people some signs of genuine reform, so it’s no surprise it has revived the idea of an inheritance tax (IHT).