KPMG Thailand Launches International Tax Centre

- International business fundamental to Thailand’s long-term success - Companies’ international tax planning capabilities are being stretched - Global rules of the game are changing KPMG Thailand today launched its new International Tax Centre. The pioneering Centre aims to provide companies with tailored, forward-looking solutions to plan and manage their international taxation exposure. The International Tax Centre @ KPMG Thailand is made up of a hand-picked team of leading tax specialists from a number of different countries. By connecting with colleagues right across KPMG’s international network, the team is able to bring a global mindset and new ways of thinking to companies during these challenging times. “The global rules of the game are changing and companies are facing huge challenges. We want to ensure that when multinational companies which operate in Thailand have their backs against the wall, they are able to make the correct decisions with confidence, in relation to their cross-border taxation obligations. Companies need to think beyond the present and act now in order to stay ahead of the pack,” said John Andes, Tax Partner in the International Tax Centre @ KPMG. For Thai and international organizations that operate across a number of jurisdictions, more vigorous management of taxes can provide leverage for improved cash management and tax efficiencies. Keeping up with the constantly changing international tax landscape and acting quickly to minimize taxation exposure can result in significant short and long-term savings for companies. “Despite the recent unsteadiness, we believe the outlook for Thailand is good. The success of this country is directly linked with its ability to do business globally. However, global competition between companies and countries is intensifying and competitive advantages must be sought in every area, and taxation is no exception” said John Andes. Any company that has offices in, or does business with other countries, is now finding that both ends of the transaction need to be closely analyzed to ensure they are compliant with tax laws while still maximizing tax benefits. Equally as important is the fact that no matter how familiar the company is with foreign jurisdictions, regulators, shareholders and other stakeholders won’t excuse mistakes in the financial reporting of tax accounting. “When operating internationally, companies are often very familiar with their domestic tax system. Seldom, however, are they equally as confident with foreign tax requirements. Consequently, compliance and benefits can be substantially reduced,” said Andes. “The International Tax Centre is an example of how we have listened and responded to requests from clients for up-to-the-minute, practical, cross-border tax advice, and how we are using our global mindset and in-depth tax knowledge to help deliver long-term competitive advantage to clients in Thailand.” Thailand is a vital global and regional hub for international business. The government is currently doing its utmost to renew investor confidence, and investor resurgence is anticipated as confidence rises. There are undoubtedly opportunities ahead for companies who can think beyond the present, anticipate future developments and act now to address potential challenges. About KPMG KPMG is a global network of professional firms providing Audit, Tax and Advisory services. The independent member firms of the KPMG network are affiliated with KPMG International, a Swiss cooperative. Each KPMG firm is a legally distinct and separate entity, and describes itself as such. About KPMG Thailand KPMG in Thailand is part of a global network of professional services firms providing Audit, Tax and Advisory Services. There are over 1000 professionals and staff in the Bangkok office committed to providing clients with value adding services. The independent member firms of the KPMG network operate in 140 countries and have more than 135,000 professionals world-wide. For more information please contact: Khun Sean Severn KPMG Phoomchai Tax Ltd. Tel: 02 677 2464 Email: Khun Ticumpon Thaveewatanaseth KPMG Phoomchai Tax Ltd. Tel: 02 677 2583 Email: [email protected] Click for photo release at www.thaipr.net

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