Impairment Testing 101
Economic crises and / or recessionary environments typically cause reductions in the future expected economic returns of assets which leads to the need for asset impairment tests. Impairment tests provided by independent expert are considered more reliable, accurate and inspire shareholder and / or investor confidence. PKF Thailand has developed an in-depth understanding of the […]
Cyber Roundup – March 2020
With the exception of the last bulleted item about the proposed federal Data Protection Agency, this month’s edition of Cyber Roundup soberly sets out various cybercrimes that are morphing into even more destructive acts, resulting in ever-expanding harm to businesses and individuals. The ingenious evil that allows these cyber criminals to swindle money, wreck reputations and cause […]
If your next-door neighbor is Airbnb, what are your risks and remedies?
Short-term leasing, such as Airbnb has become more popular in Thailand’s major condominium and house rental markets. However, without a proper Hotel License, these transactions are violating Thai laws. According to Section 4 of the Hotel Act B.E. 2547 (2004), “hotel” means an accommodation established for business purposes of providing temporary accommodation services for travelers or […]
Update on how to best use RMF, SSF and Life Insurance
Are you minimising your tax and maximising your benefits? Our tax team provide an update of how to best use the RMF, SSF and Life Insurance schemes to maximise your Personal Income Tax savings in 2020.
7 Steps to Manage Customs Risks from Retrospective Transfer Pricing (TP) Adjustments (for upward adjustment in Thailand)
To manage transfer pricing risks, MNCs have the incentive to make retroactive TP adjustments. When an MNC’s actual profit margin resulted from related party transactions (RPT) that deviated from the reasonable target supported by a transfer pricing benchmarking analysis, a reasonable TP adjustment can help an MNC manage the double taxation risk from transfer pricing […]
7 Steps to Manage More Productive Customs Duty Refunds from Retrospective Transfer Pricing (TP) Adjustments (for downward adjustment in Thailand)
Many MNCs manage transfer pricing risks by making retroactive TP adjustments when an MNC’s actual profit margin resulted from related party transactions (RPT) that deviated from the reasonable target supported by a transfer pricing benchmarking analysis. In the case where companies make a downward TP adjustment, a refund request in Customs view should be accepted […]
Tax and Legal Implications in Thailand when hiring Freelancers, Subcontractors, Secondees and Related-Company Dispatches
Most companies in Thailand will hire the following persons (foreign or local) to work for their companies from time to time: (1) Secondees (2) Related-Company Dispatches (3) Freelancers (4) Subcontractors However, very few companies have a good understanding of the distinctions or the different tax and legal differences between these four options, which can lead […]
Cyber Roundup – December 2019
The 21st century holiday Grinch is now a “smart” TV (or any other “smart” household product) nosing into your family’s privacy. The new Scrooge is represented by ransomware cybercriminals trying to waste your resources and/or steal your money. Enter, the Elf on a Shelf. He’s watching everything ‒ while reading Cyber Roundup ‒ and suggesting that you remain […]
Cyber Roundup – January 2020
The decade ended the way it began – with cybercrime in the headlines. As we ease into the 2020s, however, more ways to combat it and more laws to protect us against it are being devised. In the meantime, we need to keep aware and be proactive. Hopefully, reading our monthly Cyber Roundup will keep you attentive […]
Cyber Roundup – February 2020
Healthy skepticism can help avoid falling for phishing schemes and way-out-there data equipment/systems scams; testing can help ensure that the data system actually works and supports your company’s stated policies and procedures; and, knowledge allows for expanding data enhancements and securing the necessary and appropriate hardware, the software and the data. It is hoped that incidents reported in Cyber Roundup provide you with […]
