Thailand Business & Thailand Property Info Blog
April 24 2012 Categories: Thailand Business, 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.
April 19 2012 Categories: Doing Business In Thailand, Thailand Taxes No comments yet
As I was already mentioning in my post of the 10th of April 2012 the revenue department is about to revamp personal income tax. While some of the reforms may permit you to pay less taxes the overall purpose of the reforms will not be to reduce income taxes because as the government is cutting corporate income tax to 23 per cent this year, and then to 20 per cent next year, which will reduce overall revenue and money will have to come from somewhere else.
April 10 2012 Categories: Thailand Taxes No comments yet
Yes I know this matter is boring and you may wonder why to include it in this blog. When arriving in Thailand you will meet other foreigners who will tell you how easy it is to do business in Thailand. They will tell you that
“you don’t need to paid up the capital of your company” or
“you don’t need to keep accounting records” or
“you don’t need to pay taxes” or
“you can keep double accounting” and so on.
Originally posted 2009-07-25 07:39:25.
April 10 2012 Categories: Thailand Business, Thailand Taxes No comments yet
Two important tax decisions that have not made a lot of noise despite being very important have been passed by the government in March. The first new is that the government had decided to shelve the introduction of the new land tax that was supposed to reform the current Land & House tax. The second news is about the pros and cons of a reform of the personal income tax system.
April 6 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.
April 5 2012 Categories: Thailand Taxes No comments yet
This post is the continuation of yesterday post (Managing Tax Audits Part 1). But for the first visit, when tax officials will audit a company they will generally request it to send the documents at their office. Depending of the team auditing your company you will either be requested to send the documents first or to come for an interview first and then later to send the documents. Do not attend the interview yourself but send the accountant who is handling your company account or a tax lawyer if the issues are complexe. But the accountant should be your first choice.
Originally posted 2009-10-09 04:41:43.
April 2 2012 Categories: Thailand Taxes No comments yet
According to the Bangkok Post Thailand Finance Ministry is working on a new incentive to attract new foreign investors. This new incentive would entitle said new foreign investors to a 15 years tax break.
Originally posted 2010-05-24 09:53:07.
March 28 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.
March 2 2012 Categories: Thailand Business, 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.
February 29 2012 Categories: Thailand Taxes No comments yet
Withholding Tax is a tax collected by a deduction made on a payment when said payment is made. The payer who will remit it to the Revenue Department on behalf of the payee collects the tax. The tax the payer collect and remit to the Revenue Department on behalf of the payee will become a credit that will apply against the income tax (personal or corporate) due by the payee.
Originally posted 2009-07-25 15:44:49.
- Offshore Company & Banking Services
