A tax allowance refers to items specified by law that can be deducted from assessable income after deducting expenses. It is a type of tax benefit designed to reduce the amount of tax payable or potentially increase the…
Around for another year, the Easy E-Receipt 2.0 program allows people to deduct up to 50,000 THB from their personal income tax for money spent domestically in Thailand.
On December 24, 2024, the Cabinet approved a …
The Revenue Department has officially published the Emergency Decree on Top-up Tax B.E. 2567 (2024), which was released on December 26, 2024. These provisions will take effect for accounting periods beginning on or after January 1, 2025. Th…
A sharp rise in non performing loans in 2023 and 2024 has induced fear of a property market crash as well as an economic slowdown reminiscent of the 1997 Asian Crisis. But are these fears justified? And what is the most likely outlook going…
Baker Tilly Thailand has been selected by JKN Group as the Plan Preparer and Plan Administrator to handle JKN's debt restructuring process as they go through a business rehabilitation.
Beginning as mainly a business restructuring firm 20 y…
In early 2024 Baker Tilly Myanmar expanded its growth by partnering with May & Partners. While Baker Tilly Myanmar continues to provide professional accounting and business consultancy services It is now able to provide Audit Services l…
Hire Purchase and leasing are financial solutions where corporate taxpayers are planning to purchase/lease the assets for use in their business. There are some key differences in tax treatments of hire purchase and leasing (focusing on fina…
In today's world when running a company, high staff turnover rates and low productivity are among the most pressing challenges to deal with. While the worst case scenario of retaining underperforming staff while losing top talent is unfortu…
In order to stimulate domestic spending in early 2024 a personal income tax deduction up to THB 50,000 is granted to an individual taxpayer who purchases certain domestic goods and services from 1 January 2024 to 15 February 2024.
Further Guidance for interpretation on Foreign-Sourced Income
Previously, the Revenue Departmental Instruction No. Paw 161/2566 (“Paw 161”) regarding assessable income under Section 41 paragraph 2 of the Thailand Revenue Code (“TRC”) was …
From 1 January 2024 onwards, a taxpayer who has offshore income from employment, from a business abroad or from a property situated abroad must pay tax in Thailand regardless of whether such income is remitted into Thailand within the same …
