5 Steps to Plan Your Personal Income Tax 2022 to Have More Savings 💰
“Tax Planning” may be something that many people see as a difficult matter. However, tax planning is another important matter that we should all pay attention to because it will help us benefit as follows. o File taxes correctly and take full advantage of tax allowance rights.o Reduce the tax burden paid in the year.o […]
New Variant Good or Bad, Negative Liquidity to Impact Asset Values
US Government turns off the Liquidity Tap As we reached the end of November yesterday, we face quite a daunting prospect – not the Omicron variant of COVID (which we don’t yet know whether this represents really good news, really bad news or somewhere in between) but the prospect of a month in which the […]
Mazars in Thailand’s Technical Update contains a number of interesting articles on Tax, Legal, Audit and Accounting that will be important to your business.
Keywords: Mazars, Thailand, Tax, Legal, Accounting, IFRS, SMEs, antigen test kits, ex-convicts, DBD, TISO, IBC, Visa, permanent residence, IFRS IC, IAS, VAT 2 December 2021 Tax Additional tax deduction for SMEs to acquire a computer program Additional deduction for the purchase of antigen test kits Additional deduction for the employment of ex-convicts Legal New guidelines on requesting DBD […]
Thailand Issues Country-by-Country Transfer Pricing Reporting Regulation
On September 30, 2021, Thailand’s Revenue Department released a notification prescribing country-by-country (CBC) transfer pricing reporting requirements for multinational enterprise (MNE) groups that do business in Thailand. The Notification of the Director-General of the Revenue Department Re: Income Tax (No. 408) applies to accounting periods beginning on or after January 1, 2021, with the CBC […]
M&A transactions in Thailand on the road to recovery
Mazars in Thailand reports that M&A transactions in Thailand are beginning to recover as COVID-19 eases. Thai listed companies are actively entering M&A deals in both Thailand and Southeast Asia as a whole, while international private equity and venture capital investors are active in the Thai market One of the world’s leading audit and advisory […]
Legal Updates: Extending the Enforcement Period for Another 3 Years to Modify the Non-Qualifying Building for Hotel Business
On 6 August 2021, the Ministerial Regulations Prescribing Qualifications of Other Types of Building Used in Hotel Business Operation (No.3) B.E. 2564 (2021), issued by the Ministry of Interior, was announced in the Royal Thai Government Gazette in order to extend the period for the buildings which does not meet the requirement for obtaining a Hotel License but provides accommodation service on a short-term basis, which basically deemed […]
Thailand tax updates June 2021
Challenges of tax refund applications Companies conducting business operations in Thailand need to comply with various tax reporting requirements. Companies are subject to direct and indirect taxes. Corporate Income Tax (CIT) is a direct tax levied on a juristic company or partnership carrying on business in Thailand or those foreign companies deriving certain types of […]
OECD Guidelines for Transfer Pricing during the COVID-19 Pandemic in Thailand
Taxpayers and tax administrators around the world are grappling with the unprecedented impact the COVID-19 pandemic is having on transfer pricing arrangements. On 18 December 2020, the OECD published the much-awaited “Guidance on the transfer pricing implications of the COVID-19 pandemic”. The Guidance represents the consensus view of the 137 members of the OECD’s Inclusive Framework […]
Transfer Pricing documentation and adjustment rules clarified
The Director-General of Thailand’s Revenue Department has released an important notification on transfer pricing, laying down the rules, procedures, and conditions to be followed by tax assessment officers when inspecting the pricing of related party transactions and determining any adjustments to be made. The notification, formally known as “Notification of the Director-General of the Revenue […]
Thailand requires transfer pricing disclosures to be filed online
The Director-General of Thailand’s Revenue Department has issued a notice making it mandatory for companies to submit their transfer pricing disclosure forms online unless they have reasonable grounds for filing a paper form. The notification, issued on 14 January, is effective for accounting periods commencing on or after 1 January 2020. Many companies in Thailand […]
