Newsletter DECEMBER 2017

DLO’S Tax Newsletter   Issue 84 December 2017 Inside this Issue   Tax Laws Update 1. Corporate income tax (CIT) exemption for expenses relating to buying or hiring for the development of a computer program. 2. Personal income tax exemption for expenses related to Goods or Services spent between November – December 2017.   Tax News 1. Tax aid measures for promoting donations made to the persons who suffered from the floods in 2017 (additional measures). 2. Tax measures for promoting donations made to educational institutions, which were established according to agreements made between the Government of Thailand and specialized agencies of the United Nations. 3. Tax measures for promoting the purchase of gold bars in the Gold Future Centre.   Interesting Deka (Supreme Court Judgment) Dika                       (Supreme Court Judgment) No. 7052/2559, in re: Between                Company G.                                                                   Plaintiff Revenue Department                                                    […]

Newsletter NOVEMBER 2017

DLO’S Tax Newsletter   Issue 83 November 2017   Inside this Issue Tax Laws Update Value added tax (VAT) exemption for services of tax auditors. Amendment of the regulation regarding personal withholding tax paid by target industry businesses (located in specified provinces in Eastern Thailand). Tax News Tax measures for promoting donations made to the Justice Fund. Tax measures relating to income support from the National Competitive Enhancement for Targeted Industries Fund. VAT exemption for the sale of commemorative coins and offering the income after deducting from expenses to His Majesty King Maha Vajiralongkorn Bodindradebayavarangkun. Ministry of Finance to speed up enactment of the new law relating to the electronic business (E-business). Interesting Deka (Supreme Court Judgment) Dika                       (Supreme Court Judgment) No. 6897/2559, in re: Between                Company T.                                                                   Plaintiff Revenue Department                                                    Defendant Issue:                     How to calculate the […]

Newsletter OCTOBER 2017

DLO’S Tax Newsletter   Issue 82 October 2017   His Majesty, King Bhumibol Adulyadej, has ascended into the sky and shall never return. The people below have endured grief and tears. Sad rain has fallen to the ground for more than a year. The last rites with burning fire cannot burn down the people’s yearning. Budhima Kerdsiri – Author Hatairat Sukprasert – Translator   Inside this Issue Tax Law Update Additional measures for the reduction of the withholding tax rate for a taxpayer who receives income from a Juristic Person carrying on a target industry business (Western Thailand). Personal income tax exemption for expenses for repairs or materials used for repairs of immoveable property which have been damaged due to flooding. Personal income tax exemption for expenses for repairs or materials used for repairs of vehicles which have been damaged […]

Newsletter SEPTEMBER 2017

DLO’S Tax Newsletter   Issue 81 September 2017   Inside this Issue Tax Laws Update Additional measures promoting “ordinary partnership or non – juristic body of persons” transferring property for the purpose transforming a business to being a juristic person Extending the Period for Income Exemption for Community Enterprises Amendment of the time period specified for paying duty in cash instead of stamp duty for an instrument which is not created in the form of electronic data, for the purpose of  company registration   Tax News Extending the period for collecting VAT at 7 percent by one additional year Tax aid measures for persons who suffered from the floods in 2017   Interesting Deka (Supreme Court Judgment) Dika                    (Supreme Court Judgment) No.6693/2559, in re: Between             Company W.                                                                  Plaintiff Revenue Department                                                    Defendant Issue:                  Should immovable property that has been expropriated […]

Newsletter JULY-AUGUST 2017

DLO’S Tax Newsletter   Issue 79-80 July and August 2017 Inside this Issue Tax Laws Update 1. Reduction of the Withholding Tax rate for a taxpayer who receives income from a Juristic Person carrying on a target industry business (Western Thailand). 2. Tax benefit for capital expense for assets under the Royal Decree (No. 642) B.E. 2560 and the amendment of the conditions on capital expense for assets under Royal Decree (No. 604) B.E. 2559. 3. The Revenue Department issues a new regulation regarding preparation, delivery and storage of electronic tax invoices and electronic receipts. 4. Amending the rules for tax exemption on business transfers (natural person transfers to a new start-up) 5. Additional rules for corporate income tax exemptions on target industries in the Special Development Zone (South of Thailand – only for the provinces of Narathiwat, Pattani, and […]

Newsletter MAY-JUNE 2017

DLO’S Tax Newsletter   Issue 77 – 78 May and June 2017   Inside this Issue:   Tax Laws Update 1. Income tax exemption for expenses for repairs or materials used for repairs of immoveable property which has been damaged due to flooding 2. Personal income tax exemption for expenses for repairs or materials used for repairs of vehicles which have been damaged due to flooding 3. Extension of the applicable period for filing a financial statement or an income statement of a juristic person 4. Stamp duty payment for an instrument relating to corporate registration 5. Clarification on value added tax, specific business tax and stamp duty payments for property funds 6. Incentive for an investment on Electronic Data Capture (EDC)   Tax News 1. Extension of the applicable period for income tax exemption for Community Enterprises 2. The […]

Newsletter APRIL 2017

DLO’s Tax Newsletter Issue 76 April 2017   Inside this Issue Tax Laws Update 1. Tax evasion and or tax fraud now constitutes the offense of money laundering 2. Tax Exemption for national team athletes and coaches for prizes awarded at sporting events 3. Tax incentive for corporate entities investing in the infrastructure or development and reconstruction of tourist attractions in rural areas 4. 200% tax concession rate for senior employee wages 5. Penalties, surcharges and fines are disallowable expenses according to the Revenue Code 6. Revenue Officers not permitted to extend summons after 5 year period   Tax News 1. Land and Building Tax Code passed the first reading of the Bill by the National Assembly 2. Amendment of the Revenue Code   Interesting Deka (Supreme Court Judgment) Deka                      (Supreme Court Judgment No. 5695/2559), in re: Between                […]

Newsletter MARCH 2017

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 […]

Newsletter FEBRUARY 2017

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 […]

Newsletter DECEMBER 2016

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 […]