Showing 1-10 of 53 results
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The importance of the effective date in tax laws
Business, Lawalliance Limited Company, Published on 08/08/2017
» The government of Prime Minister Prayut Chan-o-cha has passed a number of tax laws and regulations -- far more than its predecessors in the previous decade of political turmoil -- since coming to power in 2014. Keeping track of the enforcement of these new rules is complicated, as some have retroactive effect and some grant grace periods.
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Bonuses as a prohibited deductible expenditure
Business, Lawalliance Limited Company, Published on 09/02/2016
» To an employee who performs work with passion and pride, the year-end bonus (or special remuneration in whatever form) not only means extra wealth but also signifies how his or her work has been valued.
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Expenses paid to 'unidentifiable' parties
Business, Lawalliance Limited Company, Published on 23/02/2016
» All business enterprises from time to time may encounter a situation in which they make payments to a recipient, but its identity cannot be proved to the satisfaction of tax authorities. We are not talking about a payment made in a sham transaction simply to receive a tax deduction but a payment that completely fulfils the cardinal rules such as those made on an arm's-length basis and exclusively spent for business purposes.
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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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Rebranding a regional operating headquarters as an international HQ
Business, Lawalliance Limited Company, Published on 10/03/2015
» The regional operating headquarters (ROH) provisions that Thai tax authorities introduced in 2002 have never been popular, as they are difficult to understand and comply with. As a result, many businesses have bypassed Thailand and chosen Kuala Lumpur for their regional offices.
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Tax issues and business transfers: the devil is in the details
Business, Lawalliance Limited Company, Published on 25/07/2017
» Ever since tax incentives for business reorganisation were introduced two decades ago, different issues have arisen intermittently, especially as they relate to an entire business transfer (EBT), which has become a popular practice.
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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.
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Understanding the tax liabilities of partners in an unincorporated joint venture
Business, Lawalliance Limited Company, Published on 27/06/2017
» In doing business via a joint venture, knowing the tax implications could help you avoid potentially perilous situations. This includes understanding corporate laws that may affect the tax liabilities of the partners.
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New tax legislation to comply with Fatca
Business, Lawalliance Limited Company, Published on 16/05/2017
» On March 4 last year, Thailand and the United States entered into an agreement to improve international tax compliance and to implement the Foreign Account Tax Compliance Act (Fatca), which Washington introduced in 2010 in an attempt to discourage tax evasion by US citizens holding assets abroad.
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Cross-shareholding rules and dividend tax exemptions clarified
Business, Lawalliance Limited Company, Published on 19/04/2017
» Most people are aware that there are two major types of double taxation for income tax purposes. The first is juridical double taxation, in which one taxpayer is taxed twice on the same amount of income by two different jurisdictions. This is normally dealt with in the context of double-taxation agreements.
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