Offshore Income Tax Update
The New Practice for Offshore Income Brought into Thailand
Understanding transfer pricing
Good Year Appoints Baker Tilly Thailand as its IFA
As a result of Goodyear Thailand’s plan to invest THB 5,633 million for the construction of a new factory to produce radial aviation tires in Pathumthani province, Goodyear Thailand appointed Baker Tilly on July 6, 2016 as the Independent Financial Advisor in accordance with the SET and SEC regulations.
Due to a growing worldwide demand for radial aviation tires, Goodyear’s US parent decided its Thai subsidiary was best suited to undertake the production task. Baker Tilly Thailand was engaged to independently verify the financial reasonableness of the investment and connected transaction by performing investment rationale and financial analysis including but not limited to industry, economic and competitive environment analysis relevant to the project.
Baker Tilly Thailand delivered its IFA report on October 25, 2016 and opined that the transaction was “fair & reasonable”. Mr Yundyong Thantiviramanon, Senior Partner of Baker Tilly Thailand, suggested “as always, the most difficult task in undertaking an IFA role is to assess the commercial reality of the transaction and confirm whether the Thai shareholders should support the transaction. Whilst in this case the forecast period was quite lengthy, it was reasonable to conclude that both parties will benefit from the proposed investment