Taxation

Some 24,000 small and medium-sized enterprises (SMEs) have already signed up to sort out their financial accounts from 2016-17, meeting standards to avoid late payment penalties and criminal liability, says the chief of the Revenue Department. Keep reading ...

The Treasury Department has reassured that a new method for appraising land and buildings will not result in higher land and building tax rates as several parties have suggested, while the Fiscal Policy Office (FPO) estimates about Bt40 billion per year in additional government revenues ...

The Revenue Department has linked its information with the Legal Execution Department to better chase down the tax liabilities of people who went bankrupt. Cooperating with the Legal Execution Department via this technology allows the Revenue Department to get real-time information, which could help it ...

Thailand has replaced three tax-incentive regimes with one, in response to a report that found the previous approach was creating harmful tax incentives.Thailand’s International Business Centre (IBC) came into effect last December 29, replacing three prior headquarter incentive regimes -– International Headquarters (IHQ), Regional Operating ...

In a push for digital transformation within the Asean region, member countries will join forces to implement the Asean Single Window (ASW) for all 10 nations in the trade bloc by the end of next year . Keep reading ...

A recent report revealed that the government of Thailand has passed a bill that it hopes will ensure more effective tax collection, especially from e-commerce businesses. The new law will see financial institutions required to report transactions to the Revenue Department of customer accounts which ...

The e-payment law, a tool for the Revenue Department to tax the income of non-salaried earners, particularly online vendors, will go into force from Jan 1, 2020. It takes time to link systems between the Revenue Department and financial institutions, so the money transfer reporting ...

The National Legislative Assembly (NLA) has passed a bill meant to ensure more effective tax collection, especially from e-commerce businesses. Under the bill proposed to the NLA meeting yesterday (Dec 4), financial institutions will be required to report transactions of customer accounts which receive either ...

The shopping tax allowance to be announced next week by the government will satisfy the middle class, but will do little to boost the overall economy, a prominent economist said Wednesday (Nov, 28).Anusorn Tamajai, dean of Rangsit University’s Economics Faculty, said the year-end shopping scheme ...

The Finance Ministry is planning to develop an integrated electronic tax system, aiming to facilitate swift tax payments and refunds. The Revenue Department is tasked with developing all tax systems to to be compatible with an electronic platform, including a system to offset tax payments and ...