Showing 1-10 of 69 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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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.
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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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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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Flip-flop on treatment of exports of services
Business, Lawalliance Limited Company, Published on 17/10/2017
» Trying to prove an export of services is quite elusive in respect of time and place, and different parties have different views on what should be considered as exportation for tax purposes. For this reason, the number of problems encountered in applying zero-rated value-added tax (VAT) to services has reached epic levels.
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Deductibility of guaranteed amounts by fund sponsors
Business, Lawalliance Limited Company, Published on 03/10/2017
» Property funds have long been popular with investors in Thailand, where the mutual-fund structure is being phased out and funds are being converted to real estate investment trusts or REITs. Raising funds from investors through such vehicles often involves a guarantee from the originator to increase confidence in the investment. This can be the starting point for problems on the tax front.
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Ensure fair and just audits and avoid abusive taxation
Business, Lawalliance Limited Company, Published on 05/09/2017
» The Revenue Code provides various tools to tax officials to ensure that taxes can be collected with a high level of efficiency. These tools can serve as a double-edge sword, ensuring tax compliance while also imposing punishment on defaulting taxpayers.
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Choosing between a tax appeal and a tax refund
Business, Lawalliance Limited Company, Published on 19/09/2017
» You may be surprised to learn that some people do not always claim the preferable tax treatment offered by the government. This is not a surprise to those of us who deal with taxation professionally, as some tax officials interpret the law narrowly and impose extra conditions to prevent abusive transactions based on their understanding or attitudes.
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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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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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