VAT reverse charge scheme in the pipeline
The Revenue Department is planning to launch a value-added tax (VAT) reverse charge scheme in the scrap metal industry to reduce the risk of refund fraud by January 2024, says director-general Lavaron Sangsnit. The VAT reverse charge scheme, which the department plans to issue a decree for by January next year, will require iron smelter businesses, the ultimate buyer in the transaction chain of the scrap trading ecosystem, to issue both purchase and sales invoices and submit VAT to the department. On the other hand, a tax invoice which the buyer receives is called purchase tax. In the case of a VAT-registered buyer, the buyer has the right to deduct in accordance with the general provisions for the VAT the buyer calculates and reports. If the purchase tax is greater than the sales tax, the business can then claim the deduction or refund of VAT.
Source:Bangkok Post
July 18, 2023 11:38 UTC
Exo drops another album, Taeyeon to perform in Bangkok
First, Exo returns with another album, Exist, and Taeyeon from Girls’ Generation will have a solo concert in Bangkok. The album also includes the pop R&B track Regret It in which the rapper Chanyeol showcases his songwriting skills. As a solo artist, she has showcased unique musical styles and captivated fans heart with every release, including her latest album, INVU. She was the first Korean female solo artist to hold a solo concert in Thailand, performing two shows at Impact Arena. Thai fans will have the opportunity to experience her incredible talent in person at “Taeyeon Concert - The Odd Of Love” on Aug 12 to 13 at Impact Arena.
Source:Bangkok Post
July 14, 2023 15:19 UTC
Delay poses risks to the economy
The atmosphere in front of parliament on Thursday morning during a voting session for a new prime minister. “Both businesses and consumers are closely watching the prime ministerial selection, which could require several votes,” said Mr Thanavath. “If the prime ministerial selection and government formation proceed smoothly without intense protests, enabling the implementation of investment initiatives, the economy could grow by 4%,” he said. The FTI said Thailand needs to improve its economy as the recovery has been uneven since the pandemic. The economy is now paced by tourism, said Mr Kriengkrai, with more Chinese travellers visiting Thailand following the reopening of China early this year.
Source:Bangkok Post
July 14, 2023 14:07 UTC
Pita loses first PM vote
Mr Pita received 311 votes in favour from MPs and 148 against, with 39 abstentions. It is not yet clear whether the name of the Move Forward leader will be put forward again on one or both occasions. “We accept the result, but we are not retreating,” Mr Pita told reporters shortly after the results were announced. The voting at the joint sitting of the House of Representatives and the Senate followed six hours of debate on the qualifications of Mr Pita, the sole candidate. The session saw 705 out of 749 parliamentarians (one senator resigned on Wednesday) confirming their attendance for the vote.
Source:Bangkok Post
July 14, 2023 05:36 UTC
Political showdown for Pita
Backed by eight prospective coalition partners, Mr Pita, who is the MFP’s sole prime minister candidate, needs 64 votes to secure the premiership. Mr Pita is accused of contesting the May 14 polls despite knowing he was ineligible as he held 42,000 shares in iTV, a media company. According to the source, the Constitutional Court, which meets every Wednesday, would only consider what was on the day’s meeting agenda. Mr Pita said on Wednesday that he was undeterred by the EC’s decision and expressed confidence that the senate would make the right call. Mr Pita also suggested that he was close to clinching the prime minister post, which would explain why the EC’s decision came on the eve of the prime minister selection.
Source:Bangkok Post
July 14, 2023 01:59 UTC
Day 500 of Ukraine war: No end in sight
(Photo: AFP)NIKOPOL, Ukraine: On the 500th day since Russia's invasion and as the war grinds on, Ukrainian forces are advancing slowly without enough arms and ammunition and with its main cities under constant threat. Since the beginning of June, Ukraine's army has been on the offensive to reconquer territory captured by Russian forces in the east and the south. While suffering losses, Russian forces are putting up a ferocious resistance. Russian forces "have built solid fortifications, they have a lot of equipment," said Antonina Morakhovska, a 73-year-old retired teacher in the city of Nikopol in southern Ukraine. Ukrainians remain united in the effort to repel Russian forces but their resilience is constantly being tested.
Source:Bangkok Post
July 08, 2023 19:47 UTC
Man with a mission
The TBA is collaborating with the central bank and other related parties to ease the country's high level of household debt. Almost 100% of the total household debt is under the central bank's supervision after the regulator redefined the debt. National agendaMr Piti said he agrees with the central bank reworking the definition for household debt. In addition, Mr Piti said the household debt database of the central bank should be incorporated into the NCB's database. Measures should attempt to improve loan quality in the financial system, particularly new loan offerings, he said.
Source:Bangkok Post
July 08, 2023 15:12 UTC
Russia's war in Ukraine reaches day 500
Attack was first to take place in area protected by World Heritage ConventionA local resident rides a scooter through the destroyed central square of Hulyaypole, Zaporizhzhia Region on Thursday, amid the Russian invasion of Ukraine. (Photo: AFP)NEW YORK: The United Nations (UN) condemned the civilian cost inflicted by Russia's war in Ukraine as the fighting passed the 500-day mark with no end to the conflict in sight. On June 27, 13 civilians, including four children, were killed in a missile strike on Kramatorsk in eastern Ukraine. Local residents fill their bottles with non-potable water at a water distribution centre in Nikopol on Friday, amid Russian invasion of Ukraine. Russia regularly bombards Ukraine with air attacks, including indiscriminate artillery and missile fire that have been especially deadly.
Source:Bangkok Post
July 08, 2023 05:02 UTC
'Lost screws' to blame for airport leg mangling
'Lost screws' to blame for airport leg manglingAirports of Thailand medics help an injured woman after her leg became caught in a moving walkway at Don Mueang airport on June 29. Assoc Prof Weerachai Phut-dhawong, a lecturer of the Chemistry Department at Kasetsart University's Faculty of Liberal Arts and Science, said it really was an accident. Speaking after the committee meeting on Friday, Assoc Prof Wee-rachai said the mechanical failure might have been caused by missing screws under the platform. Three screws were missing, so when she stepped on the panel, it fell while the walkway was still moving and trapped her leg. The question is how those screws went missing, he said, surmising it might be because the moving walkway was too old.
Source:Bangkok Post
July 08, 2023 04:02 UTC
Second PM vote on July 19 if first session fails: Wan
Second PM vote on July 19 if first session fails: WanIf Move Forward Party (MFP) leader Pita Limjaroenrat fails to secure the votes required to become Thailand's next prime minister in the first House session set for next Thursday, then a second round of voting is likely to be held on July 19, said House speaker Wan Muhamad Noor Matha on Thursday. However, the House speaker noted the date has yet to be set in stone. "I think the three days should be enough," said the Pheu Thai MP for Chiang Rai. He also said that he was unsure how many senators would vote for Mr Pita at this stage. He said he was optimistic that the first vote would run as smoothly as the election of the House speaker on July 4.
Source:Bangkok Post
July 07, 2023 12:18 UTC
New PM expected within 3 parliament sessions
Newly elected representatives attend their first meeting at the parliament on Tuesday. Mr Pichet said on Thursday that the three sessions were planned for July 13, 19 and 20, and they should provide enough time for the election of the new prime minister. When asked if Pheu Thai would lead the coalition if the three sessions fail to make Mr Pita as the prime minister, Mr Pichet said that would depend on the parliament and eight coalition parties. There will be internal discussions and there should not be any problem," Mr Pichet said. He also said that he was unsure how many senators would vote for Mr Pita.
Source:Bangkok Post
July 06, 2023 19:42 UTC
Parliamentary vote for new PM on July 13
Parliamentary vote for new PM on July 13The new MPs attend their first House session on Tuesday. Mr Wan, ex-officio president of the parliament, said he set the date in consultation with Senate Speaker Pornpetch Wichitcholchai. Mr Wan said voting on July 13 for the new prime minister may be completed immediately, or not. Mr Pita is not the only candidate," Mr Wan said, referring to Pita Limjaroenrat, the leader of the coalition-leading Move Forward Party (MFP). Unless the members are ready to attend there will be a lack of a quorum," Mr Wan said.
Source:Bangkok Post
July 06, 2023 13:59 UTC
Ukraine claims limited gains, weeks into counteroffensive
Ukraine claims limited gains, weeks into counteroffensiveRussian forces are on the offensive near eastern AvdiivkaKYIV (UKRAINE) - Ukraine on Monday said its forces clawed back clutches of territory from Russia last week as part of its counteroffensive, as Russia's security service said it foiled an assassination attempt on the head of Moscow-annexed Crimea. Ukraine's forces have gained over 158 square kilometres in the south since the start of the counteroffensive, Malyar said. Russian forces are also on the offensive, and in recent days launched new assaults towards Svatove, in the eastern Lugansk region. Bakhmut was seized by Russian forces spearheaded by the Wagner mercenary group. Moscow annexed Crimea from Ukraine after a referendum widely regarded as a sham by Kyiv and Western countries.
Source:Bangkok Post
July 03, 2023 11:07 UTC
Ideal House speaker is neutral, experienced law graduate: poll
Ideal House speaker is neutral, experienced law graduate: pollMost people think the House speaker must be able to work with all parties with neutrality, according to the result of an opinion survey by the National Institute of Development Administration, or Nida Poll. More than a quarter of respondents believed the speaker should be an experienced MP who graduated in law. The poll was conducted on June 27-29 by telephone interviews with 1,310 people aged 18 and over of various levels of education, occupations and incomes throughout the country to compile their opinions on the selection of the House speaker, head of the legislative branch, to be held on July 4. Asked about the qualities they wanted to see in the person holding the post of House speaker, with respondents allowed to choose more than one answer, the replies varied as follows:• 76.72% - must be able to work with all political parties with neutrality• 28.63% - should have served many times as an MP• 26.34% - should be a law graduate• 24.89% - must be acceptable to MPs• 16.41% - must be from a party in the government• 15.95% - must not necessaily be from the same party as the prime minister• 15.65% - must not necessaily be from the party with the most MPs• 14.05% - can be from either the government or opposition bloc• 13.36% - must be from the party with the most MPs• 10.92% - must not necessarily be a law graduate• 7.10% - must be from the same party as the prime minister• 6.56% - any MP can take the position• 2.90% - must be able to push through draft legislation proposed by his or her party• 0.46% - must be from a party in the opposition blocAsked how MPs should vote to select the House speaker, 52.44% said they should follow a decision reached internally by their own party prior to the selection process; 47.10% said MPs should be allowed to vote freely; and 0.46% had no answer or were not interested.
Source:Bangkok Post
July 02, 2023 15:57 UTC
Army eyes withdrawing security troops from far South by 2027
Army eyes withdrawing security troops from far South by 2027Fourth Region Army commander Lt Gen Santi SakuntanakThe security authorities have outlined a plan for the progressive reduction of military presence and lifting of the emergency in the far South in four years. Fourth Region Army commander Lt Gen Santi Sakuntanak said on Saturday a gradual withdrawal of troops is already underway in the region. Lt Gen Santi said that in the early years of unrest from 2004 to 2010, the military's main mission was to contain security woes and fight insurgent attacks by deploying extra troops mobilised from the First, Second and Third Army regions to assist the Fourth Army region stationed in the far South. Since 2011, Lt Gen Santi said a 1,700-strong combined force made up of non-military officials and police were assigned to safety protection duties in 37 districts of the far South. With more police and defence officials moving in, the soldiers were gradually being withdrawn and returned to their army regions.
Source:Bangkok Post
July 02, 2023 14:02 UTC