25
Apr
By Rachanee Prasongprasit
Section 42 (27) of the Revenue Code has been one of the tax provisions that a number of well-off families explore in passing their wealth to their heirs in a tax efficient...
09
Dec
The Organization for Economic Co-operation and Development (OECD) announced on 18 November 2019 that Thailand and other 14 countries are under the Stage 1 peer review on MAP, Action 14 of the BEPS Action...
13
May
For offences on the ground of bringing restricted items into Thailand under the 1926 Customs Act, Section 27 provides the penalty for each offence under a fine imposed in monetary terms at the rate...
13
May
When goods are imported into Thailand, action must be taken to ensure compliance with the law. For goods without import restrictions, importers may ask for them to be inspected and released from the Customs...
01
Apr
On 26 March 2019, the Act on Waiver of Penalties, Surcharges and Criminal Charges for Encouragement of Tax Compliance under the Revenue Code (“Act”) came into effect to offer a waiver of the penalties...
03
Oct
Claiming that you are innocent will not be of much help when dealing with a situation involving with a “false” or an “incorrect” tax invoice. Where a “false tax invoice” is issued, not only...
03
Oct
Decree encouraging individuals to adopt company structures raises questions and problems that are still being resolved
Tax incentives often appear attractive in theory, but the reality of attempting to claim them can often cause difficulties...
03
Oct
Last year we were treated to some tortuous legal arguments about whether the Revenue Department could try to collect tax from former prime minister Thaksin Shinawatra on a share sale, even if it was...
03
Oct
Most people understand that the discharge of a debt by a creditor, or by someone else for the benefit of a debtor, could result in the debtor having taxable income equivalent to the amount...
03
Oct
Cooperating with revenue officials improves your chances of fair treatment, while proving force majeure is very difficult
If you face a challenge from tax authorities, remember that the law can protect only those who cooperate...