Showing 1 - 10 of 18
Changing rules for applying foreign tax credits
Business, Lawalliance Limited Company, Published on 12/07/2017
» One of the original principles outlined in the OECD Model Tax Convention is that no taxpayer should be taxed repeatedly on the same amount of income earned from a cross-border transaction. This situation is referred to as "juridical double taxation" -- where income is subject to taxes under the jurisdictions of more than one state.
Tougher measures against tax dodgers
Business, Lawalliance Limited Company, Published on 21/02/2017
» The world is entering a new era in which national tax authorities are joining hands to set up a system to hound those who dodge paying their fair share of tax by applying unacceptable tax-planning schemes.
Using the tax system to reduce inequality is a work in progress
Business, Lawalliance Limited Company, Published on 24/01/2017
» The seriousness of economic inequality was portrayed dramatically by Oxfam International last week, when it reported that the eight richest people in the world own as much wealth as the 3.6 billion who make up the poorest half of humanity. In Thailand, the wealth held by the 50 richest people has been estimated at 25% of the country's gross domestic product.
E-payment and bank secrecy: what's next
Business, Lawalliance Limited Company, Published on 17/05/2016
» It has long been understood that a taxpayer has the right to a contractual arrangement that will allow him or her to incur the lowest tax cost where possible. Nothing in past constitutions or the new draft requires Thai nationals to choose a transaction that would expose the parties to the heaviest tax burden, as long as the transaction is within the law.
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.
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.
Working and paying taxes under the open borders of the imminent AEC
Business, Lawalliance Limited Company, Published on 04/11/2014
» The formation of the Asean Economic Community (AEC) late next year will definitely lead to more movement of skilled workers across borders in an integrated region. More Thai personnel will need to travel to work elsewhere in the region, and Thailand will need to be more flexible in allowing expats to obtain work permits in Thailand.
Fighting against VAT double trouble
Business, Lawalliance Limited Company, Published on 29/07/2014
» Businesses could regularly face tax difficulties if a tax regulator ignores what has been the core purpose, or the so-called “spirit of law”, and adhere too much to the physical wording of legislation.
Dealing with Withholding Tax on Loan Syndication
Business, Lawalliance Limited Company, Published on 17/06/2014
» From a tax standpoint, the Thai branch of a foreign entity is the same juridical person as the head office. With that in mind, some readers might be curious how this concept would come into play in determining withholding tax liabilities in a cross-border financing transaction.
Court ruling on guarantee fees should bring more fairness
Business, Lawalliance Limited Company, Published on 11/03/2014
» Given the unsettled political situation, the country risk for Thailand is certainly on the rise. In line with basic business principles of diversification to spread risk, the private sector starts looking for opportunities to move business offshore and set up overseas subsidies. With the formation of the Asean Economic Community less than two years away, such strategies make good sense.