In January 2018, the Revenue Department published a draft VAT bill on its website for public discussion. The bill proposes imposing VAT on foreign-based operators that provide services to customers not registered for VAT in Thailand through an electronic media or digital platform.
Base erosion and profit shifting (BEPS) refers to tax avoidance strategies that exploit gaps and mismatches in tax regulations to artificially shift profits to low-tax or no-tax locations.
It is common at this time of year to give gifts to your employees or customers, to hold a party or to take your employees on a trip. But what are the tax implications? Are you treating the personal income tax, VAT or corporate income tax correctly?
In November 2017, the Thai government approved draft laws that reduce and exempt taxes for the sale of gold bars under a forward contract.
Under the laws for enhancing the competitiveness of the country for targeted industries, there are many investment privileges and benefits given to businesses in such industries.