Showing 1-10 of 44 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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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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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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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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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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The miracle of taxation
Business, Lawalliance Limited Company, Published on 21/03/2017
» Two hundred and forty years ago, the renowned economist Adam Smith set out four canons of taxation in The Wealth of Nations. A decent tax system, he wrote, should follow the standards of justice, certainty, convenience and economy.
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Turning entrepreneurs into corporate entities
Business, Lawalliance Limited Company, Published on 07/03/2017
» February was a busy month in terms of new tax legislation. But this is just the beginning, as the director-general of the Revenue Department has also announced an ambitious plan to study extending Thailand's tax jurisdiction to overseas traders in cross-border e-commerce transactions. The idea is to generate tax revenue from online businesses, as the current legislation does not allow Thailand to tax foreign traders not doing business within the country.
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The tax cost base rules for share trades
Business, Lawalliance Limited Company, Published on 13/12/2016
» Trading shares is a common activity today because various authorities -- including the Revenue Department, the Stock Exchange of Thailand and the Securities and Exchange Commission -- have established clear guidelines for almost every aspect of the process. This helps put investors' minds at ease, as they feel they have enough knowledge to deal with most of the tax issues without difficulty. Unfortunately, this belief can be shaken when the guidelines do not strictly follow the fundamental provisions of the law.
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When receivables are seized to pay off tax debts
Business, Lawalliance Limited Company, Published on 29/11/2016
» The government has been giving away a lot of tax packages -- not only as a new-year present but all year round. It started with a tax amnesty programme (without calling it an amnesty), and has also offered allowances for those who spend at Thai resorts during holidays, double deductions for new investments, and tax incentives for investors that take significant steps in contributing to technological growth.
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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.
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