Thai Cabinet decides to close income tax loophole

[webfact]

Cabinet decides to close income tax loophole
The Nation

BANGKOK: -- CABINET agreed at its meeting yesterday to stop individuals from filing tax returns as part of a non-juristic body - in a bid to prevent tax avoidance.

"Prime minister [General Prayut Chan-o-cha] has ordered that this matter be completed by the end of this year before the new law goes into effect in 2015," government deputy spokesperson Sansern Kaewkamnerd said.

Currently, people are able to file their taxes either as part of a non-juristic body or in the form of personal income tax. Sansern said this practice was redundant.

Under the newly amended law, he said, people would no longer be allowed to file for personal tax as part of a non-juristic body. People subjected to tax would have to submit both personal income tax and tax as part of a non-juristic body once a year, so a person's real income tax was clear.

"This is aimed at closing the loophole for some people who exploit the tax system by setting up a non-juristic body," he said.

In addition, the Cabinet also approved five proposed strategic plans to develop transport infrastructure worth Bt68 billion, with funds to be earmarked in the 2015 budget. The plans include the construction of six double-track railway routes and another three 1.435-metre wide tracks, running from Bangkok to Nakhon Ratchasima, Nakhon Ratchasima to Nong Khai and Bangkok to Rayong.

In a move to solve traffic problems in Bangkok and surrounding areas, six new routes for electric trains will be open for bids next year. The routes will include the Green Line (Mo Chit to Saphan Mai to Kukot), Orange Line (Thailand Cultural Centre to Min Buri), and Pink Line (Kaerai to Min Buri).

The plan also includes the purchase of 489 NGV buses in the first quarter next year.

Source: http://www.nationmultimedia.com/politics/Cabinet-decides-to-close-income-tax-loophole-30246015.html


-- The Nation 2014-10-22

[sscsamui]

Good move...

[chainarong]

The intentions are good but is the willingness there from the ones that implement these new projects to ensure that all is transparent and above board and making certain that the correct specifications are adhered to and no short cuts or creaming off the budget occurs , one wonders what the hell is a Non- juristic body, is this ghost of taxman past , either you pay tax or you don't, nothing in between

[Bkungbank]

Before order NGV gas filling station must solve first as you can see taxi waiting long que, just imagine 500 buses waiting to fill up with limited station.

[jaltsc]

"This is aimed at closing the loophole for some people who exploit the tax system..."

What's that old proverb: "When one loophole closes, another one opens"? It's goes something like that.

[monkeycountry]

Before order NGV gas filling station must solve first as you can see taxi waiting long que, just imagine 500 buses waiting to fill up with limited station.

No oil company wants to build gas filling stations when they are forced to lose money on selling gas. Currently PTT is subsidising natural gas at arount 20 billion a year. Building more gas filling stations will just mean they will lose even more. Why should they do that?

If you had a restaurant and it was full of customers, with a line of people waiting outside, and the government forced you to lose 10 baht on each dish you sold, would you then open another restaurant to handle the line of people waiting outside?

Perhaps the public should consider the above the next time they complain about an increase in gas prices.

Edited October 22, 2014 by monkeycountry

[RKASA]

"This is aimed at closing the loophole for some people who exploit the tax system..."

What's that old proverb: "When one loophole closes, another one opens"? It's goes something like that.

Then it is maybe a semitax system as is has hole flow.

[rickirs]

Closing loopholes is good but only as effective as tax enforcement. Seeing as tax collections for 2013 and 2014 have significantly missed their revenue targets, who cares about loopholes?

On another matter:

On 09-12-2014 Thailand's Provincial Electricity Authority introduced the first locally developed electric bus with service beginning in 2015. It will test the bus during the next six months. If results are satisfactory, it will deploy the vehicle to serve its staff next year.

http://www.thaivisa.com/forum/topic/759714-pea-introduces-thailands-first-electric-passenger-bus/

But now there’s a plan for the purchase of 489 NGV buses in the first quarter next year. I thought one of the Junta’s economic strategies was to mitigate import of increasingly expensive NGV in order to hold down increasing energy prices and make the country more energy self-sufficient. It seems like purchasing these NGV buses is going in the wrong direction. Maybe Thailand needs an Energy Czar to assure the nation follows a consistent energy policy.

Thailand doesn’t need to wait on the results of the PEA bus. A Chinese company BYD has been running their electric buses now in the US with good reviews already. I am sure givcen Gen. Prayut's good relations with China that he can get a discount price on buying those buses.

http://evobsession.com/whats-like-ride-byd-electric-bus/