Showing 1 - 10 of 12
Looking for tax incentives? Make sure you comply
Business, Lawalliance Limited Company, Published on 13/06/2017
» Tax incentives can be as sweet as honey, but making a mistake in compliance, inadvertently or otherwise, can leave a taste as bitter as gall. Corporate taxpayers have learned this painful lesson in light of court rulings on the tax treatment of losses carried forward from Board of Investment-promoted businesses.
Lump-sum payments to departing employees
Business, Lawalliance Limited Company, Published on 12/07/2016
» When employment comes to an end, whether due to retirement, redundancy or voluntary resignation, the employer may need to make a lump-sum payment to the employee. As the lump sum could be all that a retired employee has left to live on, or a fund to be used during the vocational transition, the law helps to ease the tax burden by allowing a special calculation so that it is taxed separately from other income.
Failure to launch: Tax concerns stall much-needed infrastructure funds
Business, Lawalliance Limited Company, Published on 23/09/2014
» Tax matters continue to attract a lot of attention in Thailand. This past week, the government finally confirmed that corporate income tax in 2015 would remain at 20% of net profit, while progressive tax rates for individual taxpayers had been adjusted downward on incomes below 4 million baht.
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.
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.
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.