Showing 1-10 of 12 results
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Determination of Section 40(8) income
Business, Lawalliance Limited Company, Published on 22/08/2017
» The government recently introduced a tax incentive programme to encourage individuals, including ordinary partnerships and groups of persons, to reorganise their businesses and operate them in the form of a company limited or a juristic partnership. This would make it easier to screen them for tax compliance, given the need to prepare statutory accounts.
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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.
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Missing inventory and VAT refunds: finding the evidence
Business, Lawalliance Limited Company, Published on 28/06/2016
» In a tax audit, nothing should be asserted by the taxpayer without the ability to verify its accuracy. Such verification is often crucial to a taxpayer's success in withstanding the taxman's challenge.
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New tax incentives aimed at summer spending sprees
Business, Lawalliance Limited Company, Published on 05/04/2016
» Once again, Thailand's hot summer has become the season for tax incentives. So much legislation has been coming out lately that it's difficult for taxpayers to ensure timely and accurate compliance.
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VAT complications for transport services
Business, Lawalliance Limited Company, Published on 08/09/2015
» Because transport forms a part of many business activities, much confusion can arise when calculating tax for a transaction that includes transport along with the sale of goods or provision of services.
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BoI special deduction could create a double-edged sword
Business, Lawalliance Limited Company, Published on 10/02/2015
» The promotional programme of the Board of Investment (BoI), with its tax incentives, has often been considered by business operators a potential source of tax indulgences to take advantage of. Complex rules must be followed to enjoy the incentives, one of which eliminates tax on dividends paid from profits from BoI-promoted operations. But beware of the distortions that can result when it comes to determining the net amount of dividends that can be paid tax-free.
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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.
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Change of guard at Revenue Department encouraging
Business, Lawalliance Limited Company, Published on 15/07/2014
» The last two weeks have been a honeymoon period for taxpayers wishing to see an improvement in the tax environment of the country. Whether such improvements will be permanent or temporary, only time will tell.
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Tax auditors snooping around pricey houses and cars
Business, Lawalliance Limited Company, Published on 01/07/2014
» There have been some interesting developments on the tax front since last week. As part of its ongoing reshuffle of senior officials, the National Council for Peace and Order shifted the director-general of the Customs Department to an inspector-general position at the Finance Ministry, effective immediately. The demotion was not unexpected, and more changes are likely to follow.
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New rules for TAX invoices
Business, Lawalliance Limited Company, Published on 22/10/2013
» Earlier this year, the Revenue Department issued notifications that require extra information to be specified in tax invoices and debit or credit notes. On the surface, these notifications may not appear very exciting compared with those relevant to mergers and acquisitions, real estate investment trusts or some capital market transactions. But they could cause headaches for businesses that are not aware of the implications.
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