Showing 21 - 30 of 71
Group of persons or ordinary partnership?
Business, Lawalliance Limited Company, Published on 27/08/2013
» Tax fraud has been haunting a number of high-ranking officials under the supervision of the Finance Ministry. Lots of questions remain unanswered as to why huge refunds were so easily approved for dummy exporters, while small refunds usually take so much time and requires lots of paperwork, which seemingly is never enough to satisfy tax auditors.
By the book: Vat and thailand's ailing education system
Business, Lawalliance Limited Company, Published on 10/09/2013
» It was quite a shock to learn last week that Thai children's education is ranked eighth in Asean, behind Vietnam and Cambodia, by the Programme for International Student Assessment (Pisa). What does that have to do with our value-added tax (VAT) system? Allow us to explain.
Tax reporting of OTC share transactions
Business, Lawalliance Limited Company, Published on 24/09/2013
» The government is currently struggling with an important decision as to whether it should increase the value-added tax (VAT) rate to cope with the need to cover the rising budget deficit. As the increase will certainly have a negative impact on living costs, raise inflation and reduce domestic consumption, some government officials favour expanding the tax base as much as possible in lieu of increasing the VAT rate.
Local improvement tax may be due for a facelift
Business, Lawalliance Limited Company, Published on 08/10/2013
» Very often, whenever the government of Thailand needs more revenues, the question arises of possibly raising the value-added tax (VAT), or applying a new property tax, such as a Land and Construction Tax, to replace the House and Land Tax and the Local Improvement Tax. These always come back to haunt the taxpayers.
Tax management amid political chaos
Business, Lawalliance Limited Company, Published on 03/12/2013
» Is anyone trying to convince you to join the anti-government protest by pursuing "civil disobedience" in not paying taxes? Regardless of whether the Yingluck Shinawatra government is your favourite or your lifelong hatred, no one can deny that the duty to pay tax is one of your commitments to this nation. If you decide not to do so, don't expect any amnesty law to release you from penalties and surcharges.
Should you claim foreign tax as an expense or credit?
Business, Lawalliance Limited Company, Published on 28/01/2014
» Thailand's economy is not off to a good start for 2014. Amid political clashes, the private sector sees the need to rely on its own resources to compete in the world market, as it will take a long time before a new government can lend a hand in driving the economy.
Change of guard at Revenue Department encouraging
Business, Lawalliance Limited Company, Published on 15/07/2014
» The last two weeks have been a honeymoon period for taxpayers wishing to see an improvement in the tax environment of the country. Whether such improvements will be permanent or temporary, only time will tell.
Fighting against VAT double trouble
Business, Lawalliance Limited Company, Published on 29/07/2014
» Businesses could regularly face tax difficulties if a tax regulator ignores what has been the core purpose, or the so-called “spirit of law”, and adhere too much to the physical wording of legislation.
Property Tax: more questions than answers under proposed law changes
Business, Lawalliance Limited Company, Published on 26/08/2014
» One major reform the National Council for Peace and Order (NCPO) is keen on carrying out involves the house and land tax regime. By taxing holdings of real property, the government can raise more revenue while reducing the gap between rich and poor. In short, the rich, who have more property, will have to pay more taxes. In addition, reforms could reduce the financial burden on local administrative bodies.
Can inheritance tax work?
Business, Lawalliance Limited Company, Published on 09/09/2014
» Now that we have new cabinet ministers to drive the economy forward, the next expectation is for martial law to be lifted so that foreign investors and tourists can feel more comfortable about returning to Thailand. Meanwhile, the junta is determined to quickly show the people some signs of genuine reform, so it’s no surprise it has revived the idea of an inheritance tax (IHT).