Thai Taxation Services in Bangkok

Tax planning and compliance is essential to business success

Taxation in Thailand is a challenging and changing landscape. It is imperative to operate effective Tax planning and be on top of new or impending Tax legislative change. Tax deadlines are in the main fixed and penalties can quickly accrue if any are missed.

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Corporate Tax – Once a year when your accounts are audited, filing your Corporate Income Tax to the Revenue Department is an obligation. This tax depends on the net profit you have done during the past fiscal year. A certain number of rules have to be respected to deduct all your expenses and therefore lower your Corporate Income Tax liability.
Personal – Income Tax – As anywhere else, paying taxes on your revenues is an obligation in Thailand. In this country, employers have the obligation to deduct this tax at source when paying taxable salaries. These deductions are based on an estimate of the annual taxes that we divide by 12 months. Last but not least, an annual filing is mandatory every year.

Withholding Tax – This tax, very uncommon for Europeans or westerns applies when paying your service provider. For instance, when paying your telephone bill, your company is required to deduct 3% from the amount excluding VAT. To justify this deduction to the Revenue Department of Thailand, a withholding tax certificate must be sent to the service provider.

Value Added Tax (VAT) – This tax applies to companies having turnover more than 1.8 million baht per year. It however directly applies when an immigration visa is delivered to foreign workers in Thailand. A certain number of particularities must be known and well understood to avoid avoidable losses. Failing to declare your VAT may induce high penalties. Make sure it’s done on time!