Day: May 19, 2022

Q : Is the money derived from the dissolution of a limited partnership that the partner received deemed as a dividend or share of profits and is the partner entitled to claim it as a tax credit? A : No, such money is not deemed as a dividend or share of profits that can be claimed as a tax credit in accordance with Section 40 (4) (b) of the Thai Revenue Code (“TRC”), in conjunction with Section 47 Bis of the TRC. Instead, only the portion that exceeds the capital deemed as a benefit that the partner received in accordance with Section 40 (4) (f) of the TRC. Supreme Court Judgment No. 13935/2555 The TRC does not prescribe a specific definition of dividend and share of profits, hence its definition shall be determined based on Section 1084 of the Civil […]