Mastering Tax Law: Insights from Baker McKenzie

Tax law is a crucial yet often complex area of legal practice that affects individuals, businesses, and governments alike. Understanding its intricacies is essential for future legal professionals aiming to navigate corporate transactions, financial regulations, and global business operations. To provide law students with a strong foundation in tax law, ALSA Thailand successfully hosted "Mastering Tax Law: Insights from Baker McKenzie," an exclusive forum featuring top legal experts from one of the world’s leading law firms.

An Enriching Learning Experience

The event, held on Wednesday, 5 February 2025, at Baker McKenzie's Bangkok Office, provided an in-depth exploration of tax regulations, compliance requirements, and the real-world implications of tax policies on businesses and individuals. Participants gained not only theoretical knowledge but also practical insights into how tax law shapes corporate strategies, financial planning, and regulatory compliance.

Key Highlights from the Forum

The forum was led by experienced tax law practitioners who covered a range of topics, including:

- Fundamental Principles of Taxation – Understanding different types of taxes, including income tax, corporate tax, and value-added tax (VAT).

- Recent Developments in Tax Law – Exploring new regulations and legal trends affecting businesses in Thailand and globally.

- Real-World Case Studies – Analyzing key tax law cases and their implications for businesses and individuals.

Understanding Tax Law in Thailand

Taxation in Thailand is governed by various regulations, with the Revenue Code being the principal law. Some key aspects of Thai tax law discussed included:

- Corporate Income Tax (CIT): Thai companies and foreign entities operating in Thailand are subject to CIT, generally at a rate of 20%.

- Personal Income Tax (PIT): Individuals earning income in Thailand are taxed on a progressive scale, ranging from 5% to 35%.

- Value-Added Tax (VAT): A 7% VAT is levied on goods and services, with certain exemptions applying.

- Withholding Tax: Specific types of payments, such as dividends, interest, and royalties, are subject to withholding tax at varying rates.

These fundamental principles were crucial discussion points, as tax law plays a significant role in shaping business operations and financial planning.

A Valuable Experience for Law Students

The event provided an incredible opportunity for law students to:

✔ Gain expert knowledge from Baker McKenzie professionals.

✔ Learn about key tax law principles and their real-world applications.

✔ Enhance their legal network with professionals and peers.

✔ Experience the professional environment of a top-tier law firm.

Looking Back at a Successful Forum

The forum was a remarkable success, leaving participants with a deeper understanding of tax law and its significance in the legal landscape. ALSA Thailand extends its gratitude to Baker McKenzie for their invaluable contributions and to all attendees for their enthusiastic participation.