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Showing 1-10 of 10 results
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Taxing the giants of the digital economy
Business, Lawalliance Limited Company, Published on 04/10/2016
» As digital networks continue their relentless march, tax authorities are becoming equally determined to ensure that the new giants of 21st century business pay their fair share of taxes. Recent examples include the agreement by Google to pay tax of £130 million retrospectively to the UK government, and the European Commission's order that Ireland collect record-breaking back taxes of US$14.5 billion from Apple. Even Indonesia started a tax investigation into Google last month.
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Correcting flaws in the tax system: vote yes or no
Business, Lawalliance Limited Company, Published on 09/08/2016
» The referendum on the draft constitution has been staged successfully and the people have spoken. In the same spirit, perhaps it's time that the Revenue Department listened to the voices of troubled taxpayers and corrected some of its mistakes promptly and transparently.
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When will a liquidator be released from tax liability?
Business, Lawalliance Limited Company, Published on 26/01/2016
» When a life ends, whether that of a person or a business, it does not mean tax liability will also end. Dissolution and liquidation of a company are part of many corporate reorganisations, and in our experience this often requires the liquidator to make a speedy distribution of cash and other assets to shareholders. Thus, it is necessary for the liquidator to understand what he has got himself into.
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Significant changes in the new Thai-Singaporean tax treaty
Business, Lawalliance Limited Company, Published on 15/12/2015
» Ever since Thailand and Singapore signed a new double-taxation treaty on June 11, numerous publications have provided outlines of what has changed from the original treaty that has been in effect for 40 years.
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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.
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Failure to launch: Tax concerns stall much-needed infrastructure funds
Business, Lawalliance Limited Company, Published on 23/09/2014
» Tax matters continue to attract a lot of attention in Thailand. This past week, the government finally confirmed that corporate income tax in 2015 would remain at 20% of net profit, while progressive tax rates for individual taxpayers had been adjusted downward on incomes below 4 million baht.
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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.
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The withholding tax trap on bank fees
Business, Lawalliance Limited Company, Published on 23/04/2013
» It is commonly known that if a company needs to acquire loan financing from a bank, interest will not be the only cost. It is very likely you will be required to bear withholding tax on the interest costs payable to an offshore financial institution at a rate of 10% or 15%. This needs to be calculated on a gross-up basis (tax on tax), making the effective tax rates 11.11% or 17.65% respectively.
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Business motives versus Tax motives
Business, Lawalliance Limited Company, Published on 08/05/2012
» Death and taxes are unavoidable facts of life. With the deadline for corporate income tax returns and the statutory limitation period for tax assessments looming, pending tax issues must be settled now, or else you can expect a tax dispute.
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Vat uncertainty in tax free zones must be remedied
Business, Lawalliance Limited Company, Published on 27/03/2012
» With the Asean Economic Community (AEC) drawing close, a long list of tax matters must be improved or modified to strengthen Thailand's economy prior to the freer flow of trade.
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