Thailand, Cambodia double-tax exemption put in effect

BANGKOK, Jan 11 (TNA) - The agreement on the exemption of double taxation between Thailand and Cambodia was put into effect, so Thai investors avoid overlapping taxation from Jan 1, 2018 onwards. Prasong Poontaneat, the Revenue Department's Director-General said that the agreement was enforced on December 26 last year. Taxpayers can benefit from the tax incentives from Jan 1, 2018 onwards. Under the deal, tax paid in the other country will be deductible in a taxpayer’s home countries. It will enhance investment between the two countries and help Thailand stay competitive against other countries. The taxing of dividends, interests, royalties and fees for technical services arising from capital assets will be arranged with regard to the tax rates in the country where income is paid at no more than the agreed rates. The agreement on the double tax waiver between Thailand and Cambodia is the 61th that Thailand made with government of other countries. The agreement will last for 10 years from its effective date. The detail of the agreement is available on the website of the revenue department or at the hotline number 1161 of the RD Intelligence Center. (TNA)