Tax
From The Report: Thailand 2012
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In conjunction with BDO Advisory, OBG explores the taxation system. Andrew Jackomos and Paul Ashburn, Senior Partners at BDO Advisory, share a viewpoint on preparing for implementation of the AEC.

Articles from this Chapter

Overview

Taxes at a glance: A guide for navigating the system
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MAJOR TAX CATEGORIES INCLUDE THE FOLLOWING: undefined • Corporate income tax: Entities incorporated in Thailand are subject to tax on worldwide income. Foreign incorporated companies are subject to tax on income derived from business activities in Thailand or certain categories of income paid from Thailand; • Petroleum income tax: Petroleum and natural gas operations are subject to petroleum income tax; • Personal income tax: Individuals are subject to tax on Thai-sourced income.…

Overview

Paying dues: Understanding classifications of various business transactions
OBG
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The main body of tax law in Thailand is the Revenue Code. Taxes under the Revenue Code are collected under a self-assessment system of taxation, whereby taxpayers assume responsibility for correctly filing their tax returns and paying taxes annually. The Revenue Department administers the Revenue Code and enforces compliance with the law through regular tax audits. Taxpayers can ask the Revenue Department for a ruling to clarify the Department’s viewpoint in advance of a tax audit. In…

Viewpoint

Andrew Jackomos and Paul Ashburn, Senior Partners, BDO Advisory, on preparing for implementation of the AEC
OBG
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The Association of South-East Nations (ASEAN) is moving towards a more integrated and interdependent future with creation of the ASEAN Economic Community (AEC) by 2015, of which Thailand will be a part. With aspirations of turning the ASEAN region into a single market and production base, the AEC will serve as a catalyst for local businesses with international aspirations to expand in the ASEAN region. The AEC blueprint does not contain action points to harmonise national tax policies, so member…