Day: August 18, 2015

DLO’S Tax Newsletter   Issue 57 – August 2015 Tax Law Update Inheritance Tax Law The National Legislative Assembly (NLA) has issued the Inheritance Tax Act 2015 that stipulates key criteria for individuals who must pay inheritance tax. An inheritance tax income exceeding 100 million Baht is subject to 10% inheritance tax payment, with exception to an heir who is a parent, child or descendent where the rate required is 5%. Additionally, a key amendment was made in the Revenue Code in consistent with the Act mentioned above. By which: inheritance income received from the transfer of ownership or possessory right of real estate where it is free of charge; inheritance received as a support fund or for the purpose of foster care; or from gifts of value made during an individual’s lifetime, that are made on the basis of […]