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Thailand’s Income Tax Law Draft Targets Overseas Income

Thailand’s Income Tax Law Draft Targets Overseas Income

by Teuvo Tuomi | Sep 8, 2024 | Thailand, Economy, News, Taxation

The Thai Revenue Department is drafting a income tax law. The aim is to start taxing the income of individuals residing in Thailand that originates from overseas. The draft follows the international principle of worldwide income under the residence rule, according to...
Vietnam Plans to Cut Registration Fees for Domestic Cars to Half

Vietnam Plans to Cut Registration Fees for Domestic Cars to Half

by Teuvo Tuomi | Jun 28, 2024 | Business, Manufacturing, News, Taxation, Transportation, Vietnam

Vietnam’s Ministry of Finance has asked relevant ministries, branches, and agencies for feedback on a proposal to cut half the registration fees for domestically manufactured and assembled cars. The proposed tax cut would be effective from August 2024 until the...
Thailand Starts Collecting VAT on Cheap Imported Goods

Thailand Starts Collecting VAT on Cheap Imported Goods

by Teuvo Tuomi | Jun 23, 2024 | Taxation, Imports, Manufacturing, News, Shipping, Thailand, Trade

Thailand’s Finance Ministry will begin collecting value-added tax (VAT) on all imported goods, including those priced below 1,500 baht. The ruling is effective from 5 July until the end of the year, according to the Royal Gazette. The reason for collecting VAT...
Proposed Tax Hike Threatens Vietnam’s Beer Market

Proposed Tax Hike Threatens Vietnam’s Beer Market

by Teuvo Tuomi | Jun 17, 2024 | Vietnam, Food & Drinks, Health, Lifestyle, News, Society, Taxation

Vietnam’s Finance Ministry is proposing a hike in special consumption tax on alcoholic drinks to 100% by 2030. Under the draft, the tax on beer and strong liquor will first be raised to 70-80% by 2026 from the current 65%. “Alcoholic drinks and beer prices...
Vietnam Considers Increasing Environmental Tax

Vietnam Considers Increasing Environmental Tax

by Teuvo Tuomi | Mar 8, 2023 | Environment, Health, Lifestyle, News, Vietnam

Vietnam is planning to increase the environmental protection tax on non-biodegradable packaging materials. The proposal is included in the draft report by the Ministry of Justice about the law-making program of the 15th National Assembly. Plastic bags are already...

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