Showing 1 - 7 of 7
When the spirit of the law shines
Business, Lawalliance Limited Company, Published on 02/05/2017
» The current government has been trying very hard to make Thailand a jurisdiction that places more emphasis on substance and less on surface appearances. This is evident in recent legal reforms, but the attitudes of state authorities remain problematic. Many seem to believe that in order to be patriotic, the private sector must submit to any extra conditions that authorities impose above and beyond the legal framework.
Broader interpretation boosts anti-avoidance rules
Business, Lawalliance Limited Company, Published on 20/09/2016
» Businesses seeking to structure cross-border transactions in ways that help them avoid paying tax are finding it more difficult as authorities worldwide step up information sharing. One such example is the Global Forum on Transparency and Exchange of Information for Tax Purposes, which is driven by the Organization for Economic Co-operation and Development and has 135 members. The cabinet recently approved Thailand's membership in the forum.
Will the price-valuation rules change in the near future?
Business, Lawalliance Limited Company, Published on 22/09/2015
» Ever since Section 65 bis and Section 65 ter of the Revenue Code were created, most transactions, unless excluded from the tax regime, have been subject to tax based on transaction value. However, the law rarely accepts a transaction value lower than the "market value" and allows authorities to assess additional tax based on "imputed revenue", which is on a par with the market value.
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.
How the Thailand-Taiwan tax treaty could help you
Business, Lawalliance Limited Company, Published on 18/06/2013
» A news report last week about VAT fraud of 3.6 billion baht by more than 30 companies claiming exports of empty containers reminds everyone of the 1997 incident that misled the government to believe that Thailand's economy was still doing well due to healthy exports.
When car benefits become contentious
Business, Lawalliance Limited Company, Published on 20/11/2012
» Tax treatment of fringe benefits from employment always plays a key role for both employer and employee. It also can be the source of endless disputes between tax authorities and taxpayers. Once the fringe benefit is paid in kind, determination of the monetary value can be very subjective. It depends on the nature of each benefit, item by item, as well as the discretion of each tax official in each case.