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Tax Lawyer in Thailand

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Professional Background

 

First, I would like to introduce myself as follows:

Education:

     1997-2000:            LL.B

                                   Ramkhumhange University (Thailand)

                                  

 

     1995-1997:            High School

                                   Bodindecha (Singh Singhasenee)

 

     Additional Courses:

 

     2006:                      Passing examinations for Certificates in on-line web-based courses of "The Dynamics of Foreign Exchange" and "CME Futures - an Introductory Guide" from Chicago Mercantile Exchange.  

    2003:                      Attending the "Credit Insurance" seminar held by Allianz C.P. and HERMES & EULER;

    2003:                      Attending the course "English for Lawyers" program East Asian Legal Studies Center University of Wisconsin Law School;

     2002:                      Attending the course "Techniques in customs clearance for obtaining taxes benefits towards the Customs Law and other relevant laws" held by Thai Chamber of Commerce;

     2002:                     Obtaining the Lawyer's License.

     Further Education:

     I have passed the following courses from Sukhothai Thammathirat Open University:

(A)    Financial Management;

(B)    Money Market, Financial Institutions and Monetary Policy;

(C)    International Finance;

(D)    Investment;

(E)     Management and Accounting in Commercial Banking;

(F)     Project Analysis;

(G)    Financial Planning, Control and Research;

(H)    International Accounting;

(I)       Audit, Tax Accounting and Tax Planning 

Legal Practice Experience:

(a)      Contract Drafting, including, but not limited to, Purchase & Sale Agreement, Share Purchase Agreement, Lease Agreement, Distributorship Agreement, Franchise Agreement, Loan Agreement, Asset-Backed Revolving Credit Facility Agreement (similar to Factoring), Receivables Purchase Agreement, Pledge Agreement, Mortgage Agreement, Assignment Agreement, Settlement or Set-Off Agreement, Employment Agreement, Concession Sublease Agreement, Transfer Certificate under Guarantee Agreement, Schedule to 1992 ISDA Master Agreement, Equipment Supply Agreement (on Lump Sum Turnkey basis, and subject to Uniform Rules for Contract Guarantee, ICC Publication), Agreement For Issuance of Letter of Guarantee, Thai Baht Term Loan Credit Facility Agreement (using THBFIX as Floating Rate), Sub-Loan Agreement (by virtue of Japan Bank for International Cooperation Two-Step Loan), Agreement for Yen Loan (BIBF) (Conversion of Fixed Interest for Floating Interest in different period),Cross Currency - Interest Rate Swap and Interest Rate Swap Confirmation (incorporating 1992 ISDA Master Agreement (Multicurrency - Cross Border) by references in that Confirmation with some modification similar to Schedule to that Master Agreement) ;

(b)      Reviewing Syndicated Loan Agreement, Master Agreement for Standby Letter of Credit Facility (subject to ISP98), Advisory Mandate Agreement & Advisory Services Contract and Schedule to 2002 ISDA Master Agreement;

(c)      Rendering a legal opinion towards the proposed draft agreements based on the Thai Civil and Commercial Code;

(d)      Rendering advices and clarification on Basel II and auditing all the documents of Bank's corporate clients submitted for related banking transactions;

(e)      Filing a claim for repayment of debt in the Reorganization Process of a debtor's business entity with the Central Bankruptcy Court;

(f)        Used to be invited to be a Guest Speaker for Commercial Contract Drafting at Sripathum University, Chonburi Campus, on September 24, 2005;

(g)     Present, performing as Head of Global Tax for Research Department. In addition, I am also a Senior Consultant when directly rendering tax services for the clients. I have made taxation research on the following

i)                    Double Taxation Agreement;

ii)                   Thin Capitalisation;

iii)                  Transfer Pricing;

iv)                  Treaty Shopping;

v)                   Captive Insurance;

vi)                  Aircraft;

vii)                 International Air Transportation;

viii)                Derivatives;

ix)                 Securitization;

x)                  Debt Restructuring;

xi)                 International Tax Planning;

xii)                Hybrid Entity;

xiii)               Hybrid Instrument;

xiv)               Local and Cross-Border Merger & Acquisition;

xv)                Controlled Foreign Corporation;

xvi)               Oil & Gas Taxation;

xvii)              Construction; and

xviii)             Securities & Debt Instrument

     In addition to the foregoing, I am also very interested in, and therefore have been actively studying the following:

(A)    Financial

i)              Syndicated Loan;

ii)             Debt Restructuring Agreement, Intercreditor Agreement and Business Reorganization Plan;

iii)            Capital Market Instruments;

iv)            Derivatives, Credit Derivatives and Equity Derivatives;

v)             REPOs & the Securities Lending Agreement;

vi)            Global Master Repurchase Agreement;

vii)           Collateralized Mortgage Obligations (CMOs);

viii)          Collateralized Debt Obligations (CDOs);

ix)           ISDA (International Swap and Derivatives Association)

-     1992 and 2002 ISDA Master Agreement and Confirmation;

-      Credit Support Documentation; and

-      2000 ISDA Definitions;

x)            Trade Finance & Project Financing (including FIDIC Form of Contract (EPC / Turnkey Project));

xi)           Structured Finance and Securitization; and

xii)          Energy Derivative

(B)   International Arbitration

i)                    American Arbitration Association (AAA);

ii)                   ICC Court of Arbitration;

iii)                  Chartered of Arbitrators;

(C)   Foreign Laws

i)                    Contract Laws (both US and UK);

ii)                   Banking Laws;

iii)                  Securities Laws;

iv)                  Derivatives Laws

(D)  Standard Implementation

i)                    Basel II;

e-mail : tnoichiaum@yahoo.com

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Tax Lawyer with Accounting Team

I'm Thai Tax Lawyer with Accounting team in Thailand. I believe that my Free basic advice on Legal, Tax and Accounting can be useful for your question.
In addition, if you need further and/or full services, we also offer you services with professional fees on legal, accounting and tax the details of which are in module "Professional Services".
Please feel free to contact us at your earliest convenience.
E-mail : tnoichiaum@yahoo.com
Thank you very much for your kindness.

E-Commerce Taxation 

Taxation issues for E-commerce

Taxation Issues on E-Commerce which should be paid attention to by people doin business online can be divided into as follows:

A) Tax Treaty, Residence Country and Source Country;
B) Business Profit, Royalty or Other Income under relevant Tax Treaty;
C) Permanent Establishment, Server and Website;
D) VAT , Consumption Tax or Sale Tax; and
E) Products or Services.

The tax issues have been arising because of the blur interpretation of existing internationa tax principles when applied to e-commerce business.

Some issues have been clarified and ascertained in certain level, but others still are blur for taxpayers. These uncertain rules of tax for international e-commerce give both benefits and affects to taxpayers.

Art of Contract Drafting 

Art combined with knowledge

Contract Drafting is one of the legal areas of practice. Lawyer who engaged in this field not only has to have legal knowledge on applicable laws of relevant jurisdiction but also have knowledge of business thinking and art of writing and negotiation.

Art of writing comes first with complete international acceptable pattern of drafting, i.e., not missing necessary clauses in contract. This also involves specifying clear wording when you need clarification on that point, and make it ambiguous when you find yourself disadvantageous on that point of contract and need more than one interpretation which can be implied therefrom.

If you can accomplish writing which meets almost of your needs, then negotiation will be taken place to reach conclusion to finalize the contract. It can be said that the most important is negotiation skill to be used in concluding the contract.

Assuming that you desire to make supply contract with your customer oversea, what are critical points of contract to be made clear.
Based on my experience, the following are some of important clauses needed to make clear:
A) Place of execution of contract
The execution place is primarily factor to consider the applicable laws governing the contract.
B) Conditions precedent
Sometime you may want the contract to be not effective until the counterparty has fulfilled the condition precedent.
C) Product
You should specify the product to be sold or procured or the specification or requirement clearly.
D) Means of payment
There are many means of payment,e.g., cash by telegraphic transfer or L/C, including credit terms to be granted for your customer.
E) Incoterms
It is the international accepted trade terms which has been published by ICC. There are many versions of Incoterms already published. Then you should specify clearly which version of Incoterms to be used, e.g., Incoterms 2000, because different version has different provisions.
F) Warranty
Period of time, condition and exemption for warranty of your product.
G) Confidentiality
If you are aware that you may give, or counterparty may know or receive, your confidential information in the course of business, then this clause is necessary to protect your interest in confidential information and to specify the remedy or indemnification in case of breach of confidentiality undertaking.
H) Settlement of Dispute
It is possible that any dispute arising from performing the contract. If there is no method set out for settle the dispute, then you and counterparty may finalize dispute by court of justice. It would be better if you set out way to settle the dispute, e.g., first by amicably and mutually finding solution, and if pending dispute cannot be finalized by the aforementioned, then the arbitration may be the last resort, instead of court of justice. and
I) Governing Law and Jurisdiction
The governing law shall be the applicable law used to govern and interpret all aspects of contract between parties. The Jurisdiction shall be set forth to specify which court shall be the court for hearing the lawsuit from either party to the contract.

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Free Services for You 

Free advice on basic tax, legal and accounting issues for you

Free for all of you, my advice on basic tax, legal and accounting issues in respect of Thailand, and for some cases abroad.

Mail your question to me at: tnoichiaum@yahoo.com

Professional Services 

Legal, Tax and Accounting services by Thai Lawyer

Whenever you do business, you may face tax, legal or accounting issues affecting or potentially affecting your business, especially difficult when doing business abroad.

Thus, I would like to offer you my services in Thailand, and some cases in abroad, as follows:
Legal Services
A) Contract Drafting (Commercial and Financial) both in Thai and English;
B) Legal Opinion on Civil and Commercial Code and Penal Code of Thailand;
C) Litigation in Thailand; and
D) Other legal aspects in relation to investment in Thailand, e.g., BOI, work permit and visa.

Taxation Services
A) Opinion on tax issues on VAT, Corporate Income Tax, Personal Income Tax and Withholding Tax;
B) Tax Treaty interpretation and practice;
C) Tax Planning; and
D) Tax for Expatriate.

Accounting Services
A) Monthly bookkeeping;
B) Monthly accounting report;
C) Accounting Flowchart; and
D) Auditing.

In addition, I provide translation service for Thai-English language.
E-mail to me at: tnoichiaum@yahoo.com

Newswire Business News & Video 

Biz News right here for you!

Start Franchising 

Concerns upon negotiation of franchise agreement

Franchise is one of the business models actively since ten years ago until now. This model can give many benefits to the business people who understand its nature, and it can be used for both product distributed and services rendered. The critical points to accomplish the franchise business are started at day one on negotiation of agreement and later the management of franchise business based on that agreement.
When you consider to make franchise agreement, you should pay attention to the following:

A) the expertise, fund, creditworthiness of franchisee;
B) territory;
C) Advertisement;
D) Training;
E) Quality Control;
F) Calculation of Payment;
G) Royalty;
H) Tax issue on Royalty Income; and
I) Confidentiality.

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Business Establishment in Thailand 

Ways of business formality in Thailand

Almost foreigners have establish business in Thailand by registering a limited liability company in Thailand.
The formality to register is quite simple with low official fees.
Anyway, when you have already had company in Thailand, the accounting record must be made monthly for your company.
The important restriction for foreigners in conducting company in Thaiand is Alien Business Act. This Act applies to the company established under Thai laws having foreigner(s) holding more than 50% of issued share capital of that company. The aforementioned company shall be restricted in kind or type of businesses to be conducted.
Now there are many arguments and proposals to change provisions of this Act, and the conclusion has not been reached yet. The new Act, if and when concluded, finalized and enacted, will effect in some ways the foreigners doing or desire to do business in Thailand.
My personal opinion is that the new Act should clarify and modify the weak points, and make easier and less restrictions for foreigners wishing to invest in Thailand.

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Professional Style

Thailand's Individual Income Tax Rates 

Schedule of Thai's Tax Rates

Taxable Income Above 0 to 100,000 = exempt from tax

Taxable Income Above 100,000 to 500,000 = Tax Rate 10%

Taxable Income Above 500,000 to 1,000,000 = Tax Rate 20%

Taxable Income Above 1,000,000 to 4,000,000 = Tax Rate 30%

Taxable Income Above 4,000,000 = Tax Rate 37%

Thai Tax for Expatriates 

Tax Compliance for Expatriates

Expatriates who dispatched to work in Thailand or work in relation to any activities connecting to Thailand whether or not have any tax liability in Thailand shall depend primarily on sources of relevant income under Thai Revenue Code having provisions dividing sources of income into sources within and outside Thailand.
1) Source of Income within Thailand shall include income derived from or arising because of
A) duty or work conducted in Thailand;or
B) business activity in Thailand; or
C) activities of employer in Thailand; or
D) assets in Thailand (e.g., interest, dividend, rent etc).
Expatriates who receive income from source within Thailand shall have tax liability under Thai Revenue Code, unless where there is any exception, regardless that such income has been paid within or outside Thailand and that whether or not expatriates have been resident of Thailand.

2) Source of Income outside Thailand shall include income derived from or arising because of :
A) duty or work conducted outside Thailand; or
B) business activity conducted outside Thailand; or
C) assets outside Thailand.
Expatriates who receive income from sources outside Thailand shall have tax liability under Thai Revenue Code only upon fulfillment of both two conditions as follows:
a) Expatriates are deemed to be Thai resident for tax purposes if those expatriates have stayed in Thailand totally up to 180 days in that taxable year; and
b) Expatriates have brought that income earned into Thailand during that taxable year.

Note : Taxable year is the same as calendar year, i.e., commencing from 1 Jan to 31 Dec.

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