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.
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
In a tax
audit, nothing should be asserted by the taxpayer without the ability to verify
its accuracy. Such verification is often crucial to a taxpayer's success in
withstanding the taxman's challenge.