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    Turning entrepreneurs into corporate entities

    Business, Lawalliance Limited Company, Published on 07/03/2017

    » February was a busy month in terms of new tax legislation. But this is just the beginning, as the director-general of the Revenue Department has also announced an ambitious plan to study extending Thailand's tax jurisdiction to overseas traders in cross-border e-commerce transactions. The idea is to generate tax revenue from online businesses, as the current legislation does not allow Thailand to tax foreign traders not doing business within the country.


    Land and building tax bill requires greater clarity

    Business, Lawalliance Limited Company, Published on 20/10/2015

    » Life is getting interesting for taxpayers, with not only an inheritance tax and a new gift tax regime on the way but also a new property tax. The finance minister recently said the land and building tax bill would go before the cabinet very soon and take effect within the next two years. It could be more bad news for some residential property owners.


    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.


    Realisation rules for zero-coupon notes

    Business, Lawalliance Limited Company, Published on 19/05/2015

    » Each business activity has its own timing for its own reasons, and the realisation of revenue and expenses for tax purposes is no exception. Under the Revenue Code, the "accrual basis" methodology always applies to the realisation of revenue and expenses for tax calculation unless a different basis is approved by the director-general. The accrual basis requires that:


    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.

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