WEB BBS FEB 18

More documents

Recommendations

Info

BUSINESS SUPPLEMENT Our Speciality: A selection of old style recipes that are prepared with precision and slow cooked to perfection. Your chance to WIN Diamonds! Available Every time your bill is over 500 baht you will be entered into a Special Draw to be held at the end of February when you could win some real diamonds in Amber. Reservations : 0824-595-733, 038-416-285 : AmberPattaya GPS: 12.9098585,100.8801237 High Tower Co., Ltd. Tel: 038 411 009 info@AmberPattaya.com www.AmberPattaya.com one stop service In these competitive times, the company that innovates and nimbly adapts to the changing business landscape, stays ahead of the pack. A balance of cutting edge technology, on trend marketing and classic business expertise will ensure that your company stays out in front. For custom-designed IT, Web & Marketing Solutions that present your best to a wider audience, BitSiren is your partner. No followers here. BitSiren 113/228 Anuphas Golf Ville Moo 7, T. Kathu, A. Kathu, Phuket 83120 Thailand T +66 76 319 179 F +66 76 319 178 contact@bitsiren.com - www.bitsiren.com E-BUSINESS TAX ON ITS SECOND HEARING The Revenue Department’s director-general, Prasong Poontaneat, expects the annual tax growth rate to triple once a new e-business tax commences. The e-business tax will be a levy on any online transaction, regardless of where the operator is located. Currently, overall tax revenue has increased year-on-year by about five per cent per year, but this figure is expected to jump to 15 per cent once the e-business tax is fully in force. The director general has a revenue target of 1.93 trillion baht this year. A target of 2 trillion baht is set for the 2019 budget. The Revenue Department slightly missed its targets in previous years with a shortfall of around 70 billion baht. (0.07 Trillion baht) Website operators who have a Thai domain name and who accept payments in Thai Baht will be subject to the new e-business tax. Those website operators who earn a passive income from advertising will be required to put aside an amount in the form of a withholding tax and remit this to the Revenue Department. The initial rate ceiling of the withholding tax is to be set at 15 per cent but the rate will vary depending on what various websites offer and how their incoming revenue is gained. As well, overseas website operators who sell into Thailand will need to register for VAT if their annual sales exceed 1.8 million baht. With VAT in mind, the new e-business tax will remove the VAT exemption for goods bought online from an overseas vendor that are worth less than 1500 baht. The draft bill has already been submitted and will be subject to a second hearing by the Revenue Department later this month before a proposal for cabinet approval gets underway. A measure of public opinion about the tax is also to be taken as part of the second hearing. The e-business tax system is likely to be very efficient and streamlined, as the department will be alerted to every transaction on line automatically. As part of the e-business tax system implementation, the Revenue Department expects to spend some 2.3 billion baht on a data collection and data analytics system. Other measures to increase tax revenue, aside from the e-business tax, are the expectations that investment in the Eastern Economic Corridor (EEC) will generate tax revenue as goods and services start to roll out from the region. Revenue from the construction sector is expected to be the forerunner as construction of industrial parks, housing and transportation hubs takes place. The EEC will also generate tax revenues as a boost of exports of farm produce and oil products takes place, both of which are seeing rising prices of late. For all your advertising enquiries - Tel: 0846 77 43 60
BUSINESS SUPPLEMENT THAILAND BUSINESS NEWS Thailand looking to woo more German investment Thailand is seeking more investment from German companies particularly in its so-called “S-Curve” industries that comprise of 10 specially targeted sectors. These include: robotics for industry, smart electronics, medical and wellness tourism, digital and medical services, next-generation cars, agriculture and biotechnology, food, biofuels, biochemicals, logistics and aviation. Thailand’s Commerce Minister Sontirat Sontijirawong, who met the German Ambassador to Thailand, Peter Prugel recently, made it clear that he was keen to co-operate with German companies, and saw that many have expertise in various sectors particularly the automotive sector. Mr. Sontirat was quoted as saying, ”At the meeting, the two parties were very keen to expand cooperation in trade and investment.” There are more than 600 German firms operating in Thailand currently and Germany is Thailand’s largest trading partner in the EU. SCB, KBank report lower profits. Siam Commercial Bank and Kasikorn Bank, two of the largest commercial banks in Thailand, reported a drop in net profits for 2017 and especially in the last quarter. Part of the reason for the profit drop was the larger than normal provision for bad debts. Kasikorn bank was the worst performer. Its net profit dropped by 14.5 per cent to 34.3 billion baht in the full year 2017. Fourth quarter earnings plunged nearly 44 per cent year-on-year to 5.71 billion baht. Although the bank’s overall non-performing loan ratio slightly improved to 3.3 per cent from 3.32 per cent, there was a large charge for full year loan loss coverage that jumped 23.9 per cent to 41.8 billion baht. Fees and interest income rose 6 per cent and 5 per cent respectively but even these were unable to put much of a dent in the profit decline. Siam Commercial Bank posted net profits down from 47.6 billion baht the previous year to just 43 billion baht in 2017. Asia Plus Securities vice-president Usanee Liurut, was quoted as saying, ”Regulatory risk was a key factor pressuring banks’ provisions and earnings in 2017, and the heavy impact was seen in the fourth quarter.” Freight terminals expected in another four locations. According to the Transport Ministry, Freight terminals in the form of cross-docking centers are expected to be expanded in four more provinces this year as part of a wider expansion that could see eleven more centers created in all. The news came as construction started at Chiang Rai’s Chiang Khong location. It was announced that four more terminals would be constructed in Nong Khai, Tak, Nakhon Phanom and Mukdahan. The Chiang Rai center will provide a single point for all requirements for cargo transportation from China through Laos and into Thailand. The first phase is expected to be complete by 2020. Transport Minister Arkhom Termpittayapaisith was quoted as saying, ”The ministry is aware of the significance of freight transport and we are pushing the project. Once it’s completed there will be customs, immigration and quarantine (CIQ) operations at the center.” Block the sun but not the view! Motorized shading solutions with German technology Automate your home and shades with heicko e-smart home (Android / iOS) Motorized solar shades Wire free solar powered roller shades Contact us now : 0861028546 (EN/TH) : @fortuneshading www.fortune-shading.com sales@fortune-shading.com Awning motors with sun / wind sensor 88/125, Moo 15 T. Bangsaothong, A. Bangsaothong, Samutprakarn 10570 Email: ben.hightowerltd@gmail.com www.Thailand-Business-Supplement.com
Page 1 and 2: February 2018 BANGKOK TM SUPPLEMENT
Page 3: BUSINESS SUPPLEMENT Email: ben.high
Page 7 and 8: BUSINESS SUPPLEMENT SCAN THIS AREA
Page 9 and 10: BUSINESS SUPPLEMENT are located. Pr
Page 11 and 12: NewspaperDirect Bangkok Gazette Pul
Page 13 and 14: 4 NewspaperDirect Bangkok Gazette P
Page 15 and 16: BUSINESS SUPPLEMENT Only 3 Exclusiv
Page 17 and 18: BUSINESS SUPPLEMENT Notably, the 16
Page 19 and 20: BUSINESS SUPPLEMENT Newly Built Hou
Page 21 and 22: BUSINESS SUPPLEMENT Photo courtesy
Page 23 and 24: BUSINESS SUPPLEMENT AIRASIA STAYS A

WEB BBS FEB 18

Create successful ePaper yourself

Delete template?

Save as template?