The Legal 500

Published: 23 Apr 2013 at 00.00

Newspaper section: Business

Published: 7 May 2013 at 00.00

Newspaper section: Business

Handling the 5% Tax Assessment

In the real world, your company may come across a situation in which a financial statement cannot be signed off because of some problems. For example, conflict from changing the licensed auditor from one house to another often delays the audit process as the old one may refuse to cooperate and return necessary documents. Violating Securities and Exchange Commission rules, such as for a connected transaction, could also be the cause of postponing the completion of the financial statement until the problem can be resolved.

Published: 9 Apr 2013 at 00.00

Newspaper section: Business

Supreme Court Sets Precedent on Royalties

Taxpayers and the Revenue Department have been locked in endless disputes over the nature of fees paid to offshore service providers. Should such fees be classified as "royalties" or "service fees" under an agreement for avoidance of double taxation, more commonly known as a tax treaty?

Published: 26 Mar 2013 at 00.00

Newspaper section: Business

Published: 12 Mar 2013 at 00.00

Newspaper section: Business

Private schools need fairer treatment

The status of all private schools in Thailand has changed since the Private School Act B.E. 2550 (PSA 2550) was passed in 2007 and became effective from Jan 9, 2008, but confusion and ambiguity remain on many fronts.

Published: 29 Jan 2013 at 00.00

Newspaper section: Business

Avoiding the pitfalls of real estate investment trusts

Effective from Jan 1, 2013 onwards, Thailand has a new alternative investment vehicle, the Real Estate Investment Trust (REIT), which provides greater flexibility in managing real estate assets. Interestingly, the REIT can not only invest in Thailand but also in real assets situated abroad. As the baht gains against major currencies, the REIT seems to have come at the right time, just as foreign investors have been shifting funds here.

Published: 26 Feb 2013 at 00.00

Newspaper section: Business

Capitalising taxable income over 90 years? Yes, It can be done

Published: 12 Feb 2013 at 00.00

Newspaper section: Business

Toward the end of the year, there is always a rush by middle to upper-income earners to invest in Retirement Mutual Funds (RMF) and Long Term Equity Funds (LTF) to obtain the greatest tax savings possible for the current year and, at the same time, to maintain the previous year's tax exemption privilege.

The 300-baht daily minimum wage has been the talk of the town and its impact has already affected the operations of many businesses since it took effect in April in Bangkok and six other developed provinces. On Jan 1 the wage will rise to 300 baht in the remaining 70 provinces of the country, with further challenges expected for many employers.

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.

On Nov 4, 2009, the Council of Ministers for Economics agreed that it was time for Thailand to have so-called infrastructure funds (IFFs) as proposed by the Finance Ministry. There is a strong belief that IFFS can stimulate the economy because they can mobilise money for major infrastructure projects such as expressways, railways, airports, telecommunication systems and alternative energy.

Modifying tax incentives as part of a series of transactions is similar to an effort to disentangle puzzle rings, leading to further complexity. The new tax rules, Royal Decree No.542 and Ministerial Regulation No.291, legislated two weeks ago are good examples.

Published: 6/11/2012 at 12:00 AM

Newspaper section: Business

On Nov 4, 2009, the Council of Ministers for Economics agreed that it was time for Thailand to have so-called infrastructure funds (IFFs) as proposed by the Finance Ministry. There is a strong belief that IFFS can stimulate the economy because they can mobilise money for major infrastructure projects such as expressways, railways, airports, telecommunication systems and alternative energy.

Published: 9/10/2012 at 01:53 PM

Newspaper section: Business

Modifying tax incentives as part of a series of transactions is similar to an effort to disentangle puzzle rings, leading to further complexity. The new tax rules, Royal Decree No.542 and Ministerial Regulation No.291, legislated two weeks ago are good examples.

Published: 25/09/2012 at 01:59 AM

Newspaper section: Business 

The Criminal Court has just issued a long-awaited ruling in relation to the first tranche of sales of distressed assets in the history of Thailand after the 1997 financial crisis.

Published: 11/09/2012 at 01:43 AM

Newspaper section: Business

News about a famous actress and her "tax management" strategy reminds us once again of Benjamin Franklin's well-known quote: "In this world nothing can be said to be certain, except death and taxes."

Published: 28/08/2012 at 01:57 AM

Newspaper section: Business

With nearly 8.7 million user accounts, according to a global survey earlier this year, Bangkok has the largest city Facebook population in the world. Most users these days possess devices that allow them to be online anytime, anywhere, 24 hours a day. To enrich their online lives, countless applications both paid and free are at their fingertips from online digital media stores.

Published: 14/08/2012 at 01:52 AM

Newspaper section: Business