On the 9th of September 2020, the Thai Revenue Department (“TRD”) released an announcement regarding the reduction of fines for late filing of transfer pricing disclosure form (the “Form”) from 200,000 Baht to 5,000 Baht, which shall be fil…
On 9 June 2020, the Cabinet approved a draft act to amending the Revenue Code to collect value-added tax (VAT) from foreign electronic service (e-Service) providers and foreign digital platforms as proposed by the Ministry of Finance and th…
On May 12, 2020, the Thai Revenue Department has launched a further extension of electronic tax filing (e-filing) for all businesses due to the COVID-19 situation. These tax relief measures will be applied on eligible tax month from March-A…
Due to the COVID-19 pandemic, some significant tax relief measures
have been issued and summarized below.
1) Tax Compliance
Thailand Tax Ministerial Notification (No.2) 2563 was issued on 31 March 2020, extending the due date for submission a…
Other tax measures introduced due to COVID-!9 include Additional tax deduction for SMEs' salary costs Small and Medium Enterprises (SMEs) are allowed to deduct 300% of actual salary expenses paid from April 2020 to July 2020 to employees
On 18 November 2019, the Director General has officially published the Transfer Pricing Disclosure Form (“the TP Disclosure Form”) in the Notification of Director General of the Revenue Department. The TP Disclosure Form is applicable from …
In this article series, Baker Tilly specialists define Agile, walk through its applications to internal audit and offer lessons learned through case study approaches.
Internal audit is in a state of transformation. In many industries, disruptions are bigger, coming faster and require responses that are quicker and more fluid. In this environment, internal audit must also adapt to be more flexible and agi…
Your company may now be eligible for extensive tax breaks which came into effect on the 1st of June 2019.
In a large shake-up of corporate tax laws in Thailand, the Thai Cabinet has introduced new laws which essentially abolish the tax meas…
On 10 October 2018, the Cabinet approved the draft Royal Decrees which ceased the Regional Operating Headquarters Tax Schemes (ROH1 and ROH2), International Headquarters Tax Scheme (IHQ) and the International Trading Center (ITC) with a gra…
Following the public hearing in mid-2017 and final approval by the Thai Cabinet on January 2018, Thailand’s draft transfer pricing law sailed through the final reading session of the National Legislation Assembly on 27 September 2018. The …