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Corporate Tax and Value Added Tax (VAT) Registration in Thailand
Many people wish to do business in Thailand and if undaunted by the Thai company formation rules, these people often become squeamish at the thought of the Thai tax structure. Thailand tax registration is often misunderstood, but the reality of Thai taxes is fairly simple. Unfortunately, in Thailand, like most countries, taxes are a given. Luckily tax registration in Thailand is a fairly hassle free procedure if one hires a competent lawyer who knows how to go about registering to pay Thai taxes.
Every company in Thailand must register for corporate tax and usually Value added Tax (VAT). However, if the Thai Company generates less than a certain amount of income, then it is possible to avoid filing for or paying VAT. The amount necessary to avid VAT is subject to change so it is wise to seek legal counsel in order to ascertain whether a Thai Company is subject to VAT.
Integrity Legal can assist in obtaining Tax registration for a small business in Thailand. For a start-up company in Thailand Integrity Legal includes VAT and Corporate Tax registration in the price of a Thai company set up. Once registered for corporate tax in Thailand it will be necessary each year to obtain a balance sheet and have an accountant turn in the tax records for the previous fiscal year.
For taxes and other legal matters it is always advisable to retain the services of a competent legal profession. Contact Integrity Legal today for more information about registering for Thai corporate tax and VAT.
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