Mazars Thailand Technical Update – November 2015

Mazars Thailand’s Technical Update – November 2015 contains a number of interesting articles on Tax, Legal, Audit and Accounting that will be important to your business.

Keywords: Mazars, Thailand, Tax, Legal, Payroll, Accounting, IFRS, IFRS 16, IAS 21, IAS12, SEDZ, PIT, LTF, IASB

In the November 2015 update, we focus on.

Tax

  • Tax issues that the New Year brings
  • Thai sourced income and residence rules for personal income tax purposes

Legal

  • Proposal to boost investment in Special Economic Development Zones
  • Tax waived on cars and motorcycles used for testing

Payroll

  • Tax deductions for LTF contributions get three year extension
  • Reduced personal income tax rates extended for another year

Accounting

  • Accounting policies, accounting estimates, and errors

IFRS

  • Effective date of IFRS 16 tentatively set at 1 January 2019
  • IASB consults on the application of materiality to financial statements
  • IASB publishes draft interpretation on uncertain tax positions (IAS 12)
  • IASB publishes draft interpretation on foreign currency transactions including advance consideration (IAS 21)

To get a complimentary copy of the Mazars Thailand Technical Update, click on the link below.

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Technical Update_​November 2015