Removal of Three Restricted Businesses under Thailand’s Foreign Business Act
The MOC has finalized the draft ministerial regulation that will classify each of the following businesses as an Exempted Business (the “Draft Regulation”):
Taxing Bossku: The Legal Issues Arising from Dato’ Seri Najib Razak’s Tax Case
1. Introduction 1.1 While the verdict of Dato’ Seri Najib Razak’s (“DSNR”) criminal trial on various charges relating to SRC International was handed down in the last week of July 2020, tax professionals are looking at the tax recovery action against the former Malaysian Premier.
DAC6 – Mandatory disclosure of reportable cross-border arrangements
Introduction On 25 May 2018, the EU Council issued Directive 2018/822/EU, which amends Directive 2011/16/EU on mandatory automatic exchange of information, in relation to reportable cross-border arrangements. Commonly known as DAC6, its purpose is to facilitate the obtaining and the automatic exchange of comprehensive and relevant information between the tax authorities of Member States about …
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The Voluntary Leave Program as an alternative solution to the collective redundancy procedure
Employers who hire at least 20 employees and, due to the difficult economic situation, intend to terminate employment agreements with a considerable group of employees, are obliged to carry out a collective redundancy procedure.Pursuant to the applicable provisions of the act on collective redundancies (Act of 13 March 2003 on the Specific Principles for Terminating …
Verdict of the CJEU as a chance to recover VAT for bad debt relief
On 15 October 2020, the Court of Justice of the European Union (hereinafter: CJEU) give their verdict regarding a Polish company: E. sp. z o.o. sp.k. against the Polish Minister of Finance (case no. C-335/19), regarding the compliance of Polish provisions within the scope of bad debt relief in VAT with EU regulations.
CIT 2021: Key changes for the real estate sector
We would like to draw your attention to the revolutionary changes in taxation of business entities, which are included in the government’s bill amending the Act on Personal Income Tax, the Act on Corporate Income Tax, the Act on Lump Sum Income Tax on Certain Incomes Earned by Natural Persons and certain other acts (print …
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200% Tax Deduction in Thailand for Investment in Automation System
On 21 September 2020, the Ministry of Finance has announced a tax incentive to promote investment, improve industrial capacity, enhance global competitiveness, and encourage relocation of a production facility. The incentive is on a tax exemption measure allowing 100% additional tax deduction for the purchase of (1) machinery; and (2) software for its automation system.On 21 …
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COVID-19: Don’t Get Infected and Suffered for Free. Sue the Infector and Claim Your Damages!
Introduction Malaysians were frustrated about the news on several individuals’ failure to disclose vital information related to COVID-19 to the relevant authorities during medical examinations.
COVID-19 and Operational and Supply Chain Disruptions: Navigating the Legal Risk
The IHS Markit Malaysia Manufacturing Purchasing Managers’ Index – a performance indicator of the manufacturing sector – dropped to 48.4 in March 2020 from 48.5 in February 2020, reflecting a decline in the performance of Malaysia’s manufacturing sector.1 The COVID-19 global pandemic has placed companies in the manufacturing industry in a precarious position, with government restrictions …
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Combating COVID-19: Legal Requirements and Procedures for the Importation of Vaccine into Malaysia
Introduction On 11 March 2020, the World Health Organization (“WHO”) declared the COVID-19 outbreak as a pandemic. Until today, COVID-19 has affected 203 countries and territories around the world and 2 international conveyances (Diamond Princess cruise ship and MS Zaandam cruise ship). In order to stop the spread of COVID-19 virus, a nationwide movement control …