Author: parinyawatk

DLO’S Tax Newsletter Issue 75 March 2017   Inside this Issue Tax Laws Update Restructuring personal income tax for 2017 Measures encouraging natural persons to operate as Juristic Persons Tax measures for corporations investing in the foundation, development or  reconstruction of tourist attractions in rural areas Amendments to personal income tax deduction expense rates for goodwill and other rights expenses Extending the tax measure time period for transforming a property fund into a real estate investment trust Extending the corporate income tax exemption time period for SMEs participating in industry fairs in special development zones Income exemption for donations made to assist recent Thailand flood victims Amendment of issuing one time tax invoice rules Revenue Department e-Tax invoice notification by Email System   Tax News 1. Tax incentive to induce high competence specialist workers to Thailand   Interesting Deka (Supreme Court […]

DLO’S Tax Newsletter Issue 74 February 2017   Inside this Issue Tax Laws Update 1. Tax privileges for juristic person located in a special development zone that make specified investments. 2. Corporate income tax exemption for SMEs that participate in industry fairs in special development zones. 3.  Exemption for income or any privilege that is received from selling investment units back to a retirement mutual fund. Tax News 1. The Revenue Department announces that it will not require taxpayers to register for promptpay and will still allow tax refunds to be paid by cheque. 2. The Revenue Department clarifies details concerning income tax deductions for donations made to help the victims of the recent floods in Southern Thailand. 3.   Exemption for income or any privilege that is received from selling investment units back to a retirement mutual fund. 4. The […]

DLO’S Tax Newsletter Issue 72 December 2016   Inside this Issue Tax Laws Update Personal Income Tax Exemption for Expenses relating to Services or Accommodation spent on travel in Thailand on December 2016 Tax News 1. MOF is considering implementing a windfall tax 2. The Cabinet has agreed to the draft law for tax exemptions on the National e-Payment Master Plan 3. The Cabinet has agreed to the draft law concerning tax incentives for employment of elders 4. The draft of Land and Buildings Tax Act is put off Interesting Dika (Supreme Court Judgment) Dika                 (Supreme Court Judgment No. 5150/2559), in re: S. Company                                                                             Plaintiff Revenue Department                                                             Defendant Issue:               Corporate Income Tax Assessment under Section 71(1) of The Revenue Code     Tax Law Update Personal Income Tax Exemption for Expenses relating to Services or Accommodation spent […]

DLO’S Tax Newsletter Issue 71 November 2016   Thais are in tears all over the Kingdom Wishing the late King rest in Heavenly Peace In praise of his great vision and wisdom, H.M. King Bhumibol Adulyadej In remembrance of his majesty, The People’s King, forever and ever.   Budhima Kerdsiri –  Author Montree Atchariyasakulchai – Translator Inside this Issue Tax Laws Update 1. Remuneration on concept car manufacturing service not included in VAT calculation; and 2. Extension of 7% rate of Value Added Tax for a further One Year Period Tax News 1. The Cabinet Approved the Ministry of Finance to Amend the Purchasing of Immovable Property Tax Law; 2. Ministry of Finance had a plan to increasing tax from land owner, after land market price has increased due to infrastructure investment; and 3. MOF confident that Land and Building […]

DLO’S Tax Newsletter Issue 70 October 2016   Inside this Issue Tax Laws Update 1.         Income Tax Exemptions for Debt Released by a debtor of Financial Institution; 2.         The Criteria and Conditions of Income Tax Exemptions for Buying Long Term Equity Fund (LTF); 3.         Extension for writing off Bad Debts on Accounts Receivable of Financial Institution; and 4.         Rules, Procedures and Conditions for the Exemption on Income Tax of Venture Capital’s Investor; Tax News 1.         UpdateLand and Building Tax; 2.         Revenue Department Persuades Business Operators to be subject to Corporate Income Tax System; 3.         Bangkok Metropolitan Administration taxes on rented condominium because of its lower-than expected collected revenue; and 4.         Tax Reduction to Promote the Investment in Southern Border Interesting Dika (Supreme Court) Judgment Dika (Supreme Court) Judgment No. 314/2559, in re: N. Company Plaintiff The […]

DLO’S Tax Newsletter Issue 69 September 2016   Inside this Issue Tax Laws Update 1. The Stock Exchange of Thailand becomes a juristic person under the Revenue Code; 2. Personal Income Tax Exemption for Expenses relating to Services or Accommodation spent on travel in Thailand; 3. Exemption on income tax regarding National Savings Fund; 4. Exemption for donations made to the Education Technology Fund; 5. The regulations regarding the deduction of depreciation for car rental business and concept car business; 6. Rules and Regulations of the Donation to Educational Institutions; and 7. Exemption and support on tax practice under the Revenue Code (No.6) Tax News 1. On 9 August 2016, the Thai cabinet agreed to several measures for promoting an individual into businesses in the form of a juristic person; and 2. Revenue Department agreed the allowance for buying health […]

DLO’S Tax Newsletter Issue 68 August 2016   Tax Laws Update Tax Exemption on Personal Income Tax and Stamp Duty for Income Derived from Selling Immovable Property to a Foreign Government or International Organization Royal Decree (No. 614) B.E.2559 exempts personal income tax (PIT) and stamp duty on income derived from selling immovable property to a foreign government or an international organization, where such immovable property has already been handed over and paid for before the date that this Royal Decree has become effective, but has not yet had the transfer registered because the transfer was suspended by the official, thereby resulting in such registration and juristic act occurring after the date that this Royal Decree became  enforceable. This Royal Decree has been effective since July 2, 2016. For more details, please see: http://goo.gl/GWwiFs  Exemption on Income Tax for Donations […]

DLO’S Tax Newsletter Issue 67 July 2016   Tax Law Update Value Added Tax Exemption for Importers Importing Concept Cars or Concept Motorbikes Royal Decree (No.613) B.E.2559 provides an exemption for value added tax (VAT) for importers, who are researchers, developers or vehicle testers approved by the Director – General of the Excise Department, which import concept cars or concept motorbikes for the purpose of researching, developing or testing vehicles provided that they are granted an excise tax exemption under the Excise Law. This Royal Decree has been effective since January 1, 2016. For more details, please see http://goo.gl/sGxoZz The Criteria for Exemption Income for Expenses in Songkran Festival In accordance with Ministerial Regulation No. 315 (B.E.2559) which provides an income tax exemption, in cases where a person spends money on food and beverages, and pays such money to a […]

DLO’S Tax Newsletter Issue 66 June 2016   Tax Law Update Tax Exemption for Specific Business Tax and Duty for National Saving Funds (NSF) Royal Decree (No. 605) and (No. 606) B.E. 2559 has stipulated that Specific Business Tax and Duty will be exempted for the business of NSF. This exemption has been effective since May 12th 2011. For more details, please see: http://goo.gl/9kygt0 and http://goo.gl/Whabhc Tax Benefit for SMEs for hiring students to work in an accounting field Royal Decree (No. 607) B.E. 2559 has stipulated that companies or juristic partnerships registered under Thai law that have fixed assets (excluding land ) of less than 200 million Baht that have less than 200 employees, can deduct double their expenses for monies that are paid for hiring students to work in an accounting field. The students must be studying in […]