our Accounting and tax services to all Foreign Businesses in
Chiangmai, Pattaya & Bangkok Thailand. We have excellent accountants who speak
English and we offer all foreigners living in Thailand our
services. We specialize in assisting small to medium Companies
and partnerships. What we offer.
Check this website for all law & accounting and expats services including Call Center info and
English speaking lawyers with 24 hour help line
If you are
setting up a Thai Company or Limited partnership or accounting
help it is vitally important to have a good accountant who you
have confidence in and can provide the valued services you
require. Over the years many foreigners have had to use Thai
accountants who cannot speak English. Will this has changed and
we now offer you comprehensive services covering all Thailand
Accountancy practices just for you. Not only that we are the
only company that can provide everything from Law to exports to
taxation to Real Estate and banking assistance from one
Main services :
1. Accounting system setup, implement
2.Tax consultant and compliance.
3. Provides monthly accounting
(Bookkeeping and issue monthly reports in English)
4. VAT refund.
5. Internal Audit Services.
6.Tax and social insurance
7. Financial projects to Banks.
8. We Distribute and sell the top Thai accounting
program in Eng & Thai for your computers making work so much
easier & simplifying your VAT returns and social welfare
9. Email for Accounting consultations & help
and Tax change
The Revenue Department provides
guidelines on and examples of the treatment of withholding tax and VAT
on payments of fees, i.e.
(1) Fees related to customs clearance
substantiated by in the name of the owner of the goods;
(2) Service fees of the shipping agents; and
(3) Expenses without receipts incurred in the name of the owner of the
goods and traditional expenses which the owner accepts have actually
The Revenue Department provides that fees
in items (2) and (3) are subject to withholding tax and VAT, while fees
under item (1) are not subject to withholding tax and VAT.
The Instruction indicates that the owner of the goods should be allowed
to treat the fees under items (2) and (3) charged by shipping agent as
tax deductible expenses, while the fees should be treated as taxable
income of the shipping agents.
However, it is observed that the Instruction does not indicate whether
receipt-less traditional expenses which the own accepts were actually
incurred will be tax deductible. Therefore, the manner in which shipping
agents should treat such expenses for tax purposes is uncertain.
assessable maximum salary of Bht. 15,000 per month remains unchanged and
therefore the maximum monthly employer's contribution will increase from
Bht. 450 to Bht. 600. Employee's maximum contributions will also
increase to Bht. 600 per month.
New royal decrees were issued to provide an extension of time to the
period for tax exemption on the debt restructuring process and on
partial business transfer, as well as another year's extension to the
period for the reduction of the SBT rate from 3.3% to 0.11%.
The Revenue Department has expanded the
tax base for the exemption from personal income tax from Baht 50,000 to
Baht 80,000, commencing in the tax year 2003. Tax exemption is also
provided for the sale of a main residence to purchase a new one. Two
Departmental Instructions on the surcharge and penalty counting period
and withholding tax sale promotions were issued as guidelines for
BOI amended its Notification on the "Regional Headquarters"
business category. The Board of Investment (BOI) notified an amendment
to business category 7.9 by substituting the previous reference to
"Regional headquarters" with "Regional Operating
Headquarters". Together with the substitution of the business
category, the BOI has also changed the entire set of conditions for
qualifying for the business promotion in order to be congruent with
those of the Revenue Department.
on selling goods to a supplier in an export processing zone
A Company situated in an export processing zone purchased parts and
stored them in its warehouse which was situated in the same export
processing zone. The Company had not yet made payment for the parts. The
seller cleared customs duty and delivered the parts to the export
processing zone. The VAT rate is 0%. When the Company wished to use any
of the parts, it only paid the price of the quantity required. The
Revenue Department considered that this was an export of goods which
qualifies for the 0% rate of VAT and that the liability to VAT arises on
the date the domestic goods are brought into the export processing zone.
When the Company took some parts from the warehouse for the manufacture
of goods, this was regarded as bringing the goods for use in its own
business and not regarded as being a sale of goods. The invoice issued
by the seller is for payment purposes. The seller is not required to
collect VAT again. VAT n Thailand is 7%
on the compensation of goods
A company has set a warranty standard on claiming goods. When it
receives complaints from customers, it then sends an officer to
investigate and check the goods. If it appears that the Company is
liable as a manufacturer even though the sale is made by distributors to
the customers, new goods of the same quality and quantity will be sent
to substitute for the damaged goods. The Company understood that since
this is regarded as bringing goods to use in its own business, no VAT
liability would arise. However, the Revenue Department takes a different
view, that this transaction is regarded as a sale of goods, and that the
Company is liable to collect VAT from the customer.
goods under warranty contract
A company has a policy on the warranty of goods such that if the goods
sold by the Company are damaged within the period of the warranty, a
customer can make a claim for new goods. The Revenue Department ruled
that the sale of goods under a warranty contract whereby the Company
will replace the goods damaged in the warranty period is regarded as
bringing the goods for use in the manufacture of goods, provision of
service, management of business or as the benefit of the property the
Company has for carrying on its business, which is not regarded as the
sale of goods. Therefore, it is not subject to VAT under section 77/2 of
the Revenue Code.
utilities expenses for the real estate business are not capital
A company is a real estate developer in
the business of land appropriation and sale of houses. The Company had
constructed public utilities on its land by which the land and the
public utilities had not yet been transferred to anyone or for public
benefit. The Revenue Department took the view that the construction
expense was a disallowable expense in the CIT calculation according to
Section 65 ter (5). The public utility expenses of the Company's
permitted project i.e. road, side-walk, electricity system, water
system, bridge, waste-water treatment and lake were expenses which the
Company paid for the direct benefit of the land and houses in the
permitted project. These expenses would increase the value of the land
and houses in the Company's permitted project and benefit the Company's
business directly; they are the Company's assets and treated as the
Company's capital. The expenses, therefore, are a non-deductible
expenses under Section 65 ter (5) of the Revenue Code. Instead, the
Company is required t o deduct wear and tear and depreciation of such
properties in accordance with Royal Decree No.145 B.E.2527 (1984).
tax system is self-assessment.
Directors are responsible for compliance with the Revenue Code and
preparation/submission of complete and accurate tax returns. In
addition, resources are stretched as companies are focusing on their
competencies: activities that create value for the company. The result
is limited resources available for tax compliance. We can assist you
with managing your regulatory compliance needs.
Our services include:
Tax process and Management Services.
Value Added Taxation (VAT)
We can offer you English speaking
accountants and auditors in Bangkok, Chiangmai, Chonburi to
Pattaya at very reasonable rates.