Thailand Business & Thailand Property Info Blog
May 15 2013 Categories: Thailand Taxes No comments yet
The Revenue Department is the largest source of income for the Thai Government representing up to 80% of its revenues. Now as a result of the 2008 crisis the Revenue Department underperformed in 2009 (180 Billion Baht below target) while on the other hand the Government committed huge amounts of funds to support the economy increasing the public debt.
Originally posted 2009-12-21 04:53:57.
November 19 2012 Categories: @ Thailand Investment Blog, Thailand Taxes No comments yet
In Thailand many companies invest under the form of thinly capitalization, they are incorporated with a low capital and then they borrow money from their investors to finance their investment. This allows them to enjoy large tax deduction as they are entitled to deduct from their profits the interests paid.
Originally posted 2012-04-24 19:37:15.
November 19 2012 Categories: Thailand Taxes No comments yet
So, how much personal income tax will you pay this year? To help you to determine your tax liability for the year 2009 we have prepared a simulation table and pre-calculated the amount of tax due for the year 2009.
Originally posted 2009-12-18 05:07:27.
November 19 2012 Categories: @ Thailand Investment Blog, Thailand Taxes No comments yet
In order to improve Thailand competitiveness prior to the enforcement of the Asean Economic Community in January 2015 Thailand has recently moved to lower corporate tax rates that have become far more competitive than before.
Originally posted 2012-01-28 00:54:37.
November 19 2012 Categories: Thailand Taxes No comments yet
In this post I will try to give readers a few tips on how to manage Tax Audits. I guess that readers would prefer tips on “how to avoid a tax audit”. Unfortunately, in Thailand, you cannot avoid tax audit. To the contrary, you may expect regular mandatory visits from the Tax Administration.
Originally posted 2009-10-08 05:12:15.
November 19 2012 Categories: @ Thailand Investment Blog, Company Formation Thailand, Doing Business In Thailand, Thailand Taxes, Thailand Visas & Work Permit No comments yet
Companies which tax year end at 31 December 2011 had until the 31 May 2012 to file their annual tax return. If you failed to do this and needs to renew your work permit and one year visa please kindly note that Immigration and Employment department no longer accept 2010 tax filling as supporting documents for the work permit renewal or one year visa extension.
Originally posted 2012-06-17 16:42:09.
November 19 2012 Categories: Thailand Taxes No comments yet
I recently read an article in the Bangkok Post were a Revenue Department Official was quoted discussing the matter of a possible corporate income taxes reduction. This official was saying that while corporate income tax may be higher than in other countries Thailand was however one of the country in the world where the VAT rate was the lowest. This gave me the idea to compare the ranking of Thailand in relation to personal income tax, corporate income tax and VAT.
Originally posted 2009-10-11 06:54:42.
November 19 2012 Categories: Thailand Taxes No comments yet
I told my business owners clients that this year would be a bad one for all of us not only because we have to survive amid the context of the global economic downturn and the political crisis but also because economical crisis’s do not only affect companies they also affect the Thai Revenue Department and this year was a bad one for the Revenue Department with collections that will fall short of the target by Bt170 billion (first estimation was a shortfall of 300 billions) THB.
Originally posted 2009-09-24 05:17:58.
November 19 2012 Categories: @ Thailand Investment Blog, Thailand Taxes No comments yet
For those which companies in Thailand close their accounts at the end of the year we remind you that you will have to close the accounts of your company and prepare and file audited accounts within five months of year end. Also we remind you that the audited account of the company must be submitted for the approval of the Annual Shareholders Meeting of the company within 4 four months of year end.
Originally posted 2012-01-31 18:04:00.
November 19 2012 Categories: Thailand Taxes No comments yet
The VAT system was introduced in Thailand in 1992 that is to say at the same time than the Special Business Tax (SBT). In a nutshell most transactions (exchange of goods or services) that are occurring in Thailand are either subjected to VAT or to the SBT.The principle of VAT is simple, any business which having a turnover of more than 1,800,000 THB per annum, and that is not subject to the Special Business Tax, must register for VAT within 30 days of the date they reach 1,800,000 THB in sales.
Originally posted 2009-11-15 05:12:28.
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