• Mon, 13 May 2019 01:00
    Revenues from TRAIN exceed 2018 target
    ADDITIONAL revenues from the Tax Reform for Acceleration and Inclusion (TRAIN) Act exceeded the government’s target by 8.1 per cent in 2018 even as the law also allowed taxpayers to take home more money with their lower personal income tax rates.
  • Thu, 18 Apr 2019 01:00
    Thousands of Chinese workers not paying taxes
    THE BUREAU OF Internal Revenue (BIR) is going after the income tax payments of more than 130,000 unregistered Chinese working in the Philippine offshore gaming operators (Pogo) sector.
  • Mon, 19 Nov 2018 01:00
    Interest from investments in FIDF bonds exempted from income tax
    THE NATIONAL Council for Peace and Order (NCPO) has issued an order under Article 44 of the charter to exempt income tax on interest revenue derived from bonds issued by the Financial Institutions Development Fund (FIDF) in a bid to boost the country’s financial system stability.
  • Mon, 19 Nov 2018 01:00
    FETCO floats New funds 
    FETCO has proposed to set up replacement funds for LTFs whose tax privileges will end next year. Based on its proposal, personal income tax deduction will be set at a maximum of 20 per cent of investment, but not exceeding Bt100,000 and not more than the tax amount to be paid. Fund holders must hold on to the units for a minimum of 10 years.
  • Thu, 13 Sep 2018 01:00
    What you need to know about withholding tax refund
    IN 2013, the government reduced the corporate income tax rate from 30 per cent to 20 per cent as a tax incentive for international companies to invest in Thailand. However, while the tax rate was reduced, the withholding tax rate remained the same. This has resulted in a greater demand for withholding tax refunds.
  • Tue, 11 Sep 2018 01:00
    The National Broadcasting and Telecommunications Commission (NBTC) will propose to the meeting of the Asean broadcasting and telecom regulators in Thailand late this year that all Asean regulators should slap VAT and corporate income tax on the over-the-top (OTT) players in their countries to ensure a level playing field to all players in the digital content field.
  • Wed, 29 Aug 2018 01:00
    Thailand is expected to earn at least Bt1.6-Bt2.5 billion in income tax revenue annually after the Cabinet approved the Ministry of Finance’s proposed imposition of a 15 per cent withholding tax on fixed income funds at its meeting yesterday.
  • Tue, 28 Aug 2018 10:39
    Elderly care expenses to become tax-deductible in China
    China will include expenses of caring for elderly people in the categories of tax-deductible items while setting the minimum threshold for individual income tax at 5,000 yuan ($732) per month, according to the National People's Congress Standing Committee, the nation's top legislature, on Monday.
  • Sat, 16 Jun 2018 01:00
    Philippines plans tax amnesty in next April
    THE Philippine government is planning to implement the much-awaited tax amnesty in April next year to coincide with the deadline of filing of income tax returns, Finance Secretary Carlos Dominguez III said.
  • Sat, 28 Apr 2018 01:00
    Misconceptions about the changing transfer pricing landscape
    MANY taxpayers are worried about drastic changes to be brought about by the introduction of the specific transfer pricing provisions into the income tax law.
  • Fri, 16 Feb 2018 01:00
    Standard or itemised deduction: a choice for self-employed income taxpayers
    THE March 31, 2018 deadline for filing the 2017 individual income tax return is fast approaching and one of the key changes to the personal income tax regime, which is effective from the 2017 tax year onwards and will impact self-employed income taxpayers, is the reduction of the standard expenses deduction. 
  • Tue, 30 Jan 2018 18:48
    Tax incentive for angel investors
    The Cabinet yesterday approved deduction in personal and corporate income tax for those who invest up to Bt100,000 per year in start-ups as angel investors. 
  • Wed, 06 Dec 2017 01:00
    Tax breaks to encourage bigger families
    THE REVENUE Department will amend the Revenue Code to raise the threshold for child-rearing expenses that can be deducted from personal income tax in a bid to encourage Thais to have more than one child.
  • Sat, 21 Oct 2017 01:00
    Benja, 4 others released on Bt500,000 bail each
    THE SUPREME Court order the temporary release of Benja Louichareon, a former deputy finance minister, and four other persons sentenced to a three-year jail term for abusing their authority to help Panthongtae and Pinthongta Shinawatra, the children of former premier Thaksin Shinawatra, evade income taxes on their sale of Shin Corp shares in 2006.
  • Tue, 05 Sep 2017 01:00
    Adopting foreign currency in computing Thai income tax
    ACCORDING to the Thai Accounting Standard (TAS) 21: The effects of changes in foreign exchange rates, an entity is required to determine a functional currency for its operation based on the primary economic environment in which it operates and to record transactions using that functional currency.
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