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On 4 July 1874, King Chulalongkorn established Hor Ratsadakorn Pipat to collect all types of tax and become a form of Custom Department. Since the customs policy was complicated, the Customs Department developed the organization and management to be more effective by corporate the department under the control of the Ministry of Finance by ...
Travel and subsistence expenses describe the cost of spending on business travel, meals, hotels, sundry items such as laundry (though usually only on long trips) and similar ad hoc expenditures. [1] These reimbursements often have tax and related implications, and vary depending on the country of the business.
Tax withholding, also known as tax retention, pay-as-you-earn tax or tax deduction at source, is income tax paid to the government by the payer of the income rather than by the recipient of the income. The tax is thus withheld or deducted from the income due to the recipient. In most jurisdictions, tax withholding applies to employment income.
The tax exemption, effective from April 2022 to December 2023, will also cover trading of retail central bank digital currency to be issued by the central bank, he said. Thailand approves relaxed ...
A new income tax law, passed in 1997 and effective 1998, determined residence as the basis for taxation of worldwide income. [169] The Philippines used to tax the foreign income of nonresident citizens at reduced rates of 1 to 3% (income tax rates for residents were 1 to 35% at the time). [170]
This is the map and list of Asian countries by monthly average wage (annual divided by 12 months) gross and net income (after taxes) average wages for full-time employees in their local currency and in US Dollar.
Tourist visa owners may freely import into the country items with value up to 20 000 Baht per person or 40 000 Baht per family. In the case of an attempt to import non-registered goods with a value above the prescribed limit, the offender will get a fine, four times higher than the value of the goods.
The result is a gap between tax expense computed using income before tax and current tax payable computed using taxable income. This gap is known as deferred tax. If the tax expense exceeds the current tax payable then there is a deferred tax payable; if the current tax payable exceeds the tax expense then there is a deferred tax receivable.
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