Future of the ASEAN Economic Community Discussed in Thailand
The “AEC+3 Summit and Expo” convened in Bangkok on 3 November 2014. The event aimed to encourage Thailand’s businesses to invest more in the other countries of the Association of South East Asian Nations (ASEAN) and to promote Thailand as an
See MoreThailand: Reduces tax rate for 2015
The cabinet of Thailand has approved a royal decree reducing corporate and personal income tax for the year 2015. The reduced tax rate for companies having net profit over THB1m (USD31,000) will be 20% for the year 2015 which was 23% in the tax year
See MoreThailand-Proposal on changes to VAT rate during 2014 and 2015
The government of Thailand has announced a proposal according to which if approved the value added tax rate would be reduced from 7% to 6.3% between 1 October 2014 and 30 September 2015. On the other hand an additional new, local sales tax rate of
See MoreThailand Government agrees to keep 7% VAT rate for one more year
The government of Thailand has announced to keep the country’s VAT rate on 7% for one more year. The Previous Thai governments had planned to raise the VAT to 10% but now this has been postponed for one more
See MoreThailand may face VAT rate increase
The VAT rate in Thailand may need to be increased from 7 percent to 10 percent as the economic growth slows down. The 7 percent rate was intended as a temporary measure but has continued for some time. The measure had been extended by a government
See MoreThailand: Tax Revenue deficit
Ongoing political unrest in Thailand could lead to a fall in tax collection and missed targets, according to the Fiscal Policy Office. Collections in the opening months of 2014 have however risen a little above the predicted amounts. The Fiscal
See MoreEstonia – Six new DTA in effect
From 1 January 2014, six new Double Tax Treaties (DTA) were added to Estonia’s income tax treaty network. The treaties are with Bahrain, Thailand, Cyprus, Mexico, Turkmenistan, and
See MoreDTA between Thailand and Ireland
The governments of Thailand and Ireland signed a double taxation agreement on 4 November 2013. In Thailand the agreement will apply to income tax and petroleum income tax and in Ireland the agreement will apply to income tax, corporation tax and
See MoreThailand- Plans to Delay FATCA Deadline by Six Months
Thailand will postpone its deadline to become compliant with the U.S. Foreign Account Tax Compliance Act by six months, which is to June 2014. Thailand had hoped to be FACTA-compliant by 31 December but gridlock in Washington and Thailand’s own
See MoreChile-Thailand FTA signed
The Free Trade Agreement (FTA) has signed between Chile and Thailand on October 4, 2013. This follows a feasibility study by a Joint Study Group and further negotiation between the two countries. The agreement will remove 90% of tariffs on products
See MoreThailand Scraps Luxury-Goods Tax
The government of Thailand had announced to eliminate import duties on luxury watches, clothes and cosmetics. Accordingly by the end of the year the duty on some luxury goods will be cut from 30% to
See MoreThailand raised alcohol excise taxes
In Thailand the excise taxes on liquor, beer and wine will increase by 7 -15% effective on 4 September 2013. The price will be higher particularly for
See MoreIncome Tax Treaty between Philippines and Thailand
The governments of Philippines and Thailand signed a new Income Tax Treaty on 21 June 2013. After completing necessary ratification procedures by both countries the treaty will enter into force. After entering into force and becoming effective, the
See MoreNew Tax Breaks for SMEs in Thailand
The government of Thailand has reduced the corporate tax rate from 23% to 20% this year. No further help will be provided to SMEs with revenues up to THB 50 million. The Cabinet of Thailand has approved a package of tax measures proposed by the
See MoreIncome Tax Treaty between Thailand and Taiwan
Thailand and Taiwan signed an agreement on the avoidance of double taxation and the prevention of fiscal evasion on 3 December 2012. An agreement was originally signed by the two countries on 9 July 1999, but the government of Thailand failed to
See MoreIreland: New DTAs with Thailand and Ukraine
The Irish tax authority has confirmed in a recent update that the nation has concluded negotiations towards new double taxation agreements (DTAs) with Thailand and Ukraine, and towards revised agreements with Belgium and
See MoreThailand to Keep VAT at 7%
It has been published on 10 August 2012 that Thailand’s government has decided to postpone the planned increase in the value added tax (VAT) rate by two years to help stimulate the consumer spending and private sector investment, which are
See MoreThailand Refuses To Give Foreign Dividend Tax Exemption
It was published on 9 July 2012 that the Deputy Prime Minister and Finance Minister have immediately rejected a call from Thailand’s business sector for a tax exemption on dividends received from overseas investments. The Thai Chamber of Commerce
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