On the cusp of 2014 national elections and the 2015 integration of the ASEAN Economic Community, Indonesia is poised to continue its rapid economic expansion. While the country’s natural resources are still plentiful, by channelling foreign direct investment into the right areas, the government is ensuring that true potential, in terms of value and manufacturing, is achieved.
The main body of tax law in Thailand is the Revenue Code. Taxes under the Revenue Code are primarily collected under a self-assessment system, whereby taxpayers take responsibility for correctly filing their tax returns and paying taxes.
There are eight major taxes imposed in Thailand:
With the AEC soon to become a reality, the number of businesses in ASEAN engaged in cross-border trade and investment is expected to increase significantly. One of the core elements to realising the AEC is allowing for virtually no restrictions on ASEAN service suppliers providing services and establishing companies across national borders...
Despite the political and social challenges that marked late 2013, Thailand’s economy has remained stable and is poised for further growth in the coming years. However, concerted action by the public and private sectors will be needed for the country to avoid the middle-income trap of stagnating productivity and to maintain its stance as a top Asian economy.
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