Penalty rate for delayed submission of financial statement

by panwa group | Sep 20, 2021 | 5.QA

The company has to submit delayed financial statements, how about the penalty? Panwa : The penalty must be paid to both related agencies, The Revenue Department and The Department of Business Development. The Revenue Department (RD) pay the penalty, together with the...

What are the Revenue Department requirements for a foreigner’s visa extension?

by panwa group | Sep 17, 2021 | 5.QA

When the foreigner renews his visa, what are the related visa requirements needed from The Revenue Department? Panwa: The information from the Revenue Department needed for visa renewal are: The info of VAT registrationTax pass form (Phor 5 / Phor 6 form)P.N.D. 1...

If transfer back the company’s capital to Singapore in cases of : loan to a related party and or if close the company in Thailand, would there be any tax incurred?

by panwa group | Sep 17, 2021 | 5.QA

In the event that we want to repatriate the capital back to Singapore, would there be any tax to be incurred? This is in the form of a) loan to a related party b) we close the legal entity in Thailand Panwa: Actually we will recommend client to pay as dividend or for...

In case we do software and hardware distribution business (to customers in Thailand), for the payment to the sellers in overseas, is our company in Thailand obliged to deduct tax on assessable income paid? And if so, at what rate?

by panwa group | Sep 17, 2021 | 5.QA

The company operates software and hardware distribution business in Thailand and has imported software from companies in 11 countries for distribution to customers with residences and location in Thailand. For the company payment of software fees to sellers in 11...

If we serve the client’s goods trucking from their factory to our I.C.D. to store and send it back to their factory which it includes the fee of warehouse, we need to charge the VAT?

by panwa group | Sep 17, 2021 | 5.QA

We would like to explain our business that serve as I.C.D. (INLAND CONTAINER DEPOT) which got permission from Customs Department (services of customs broker and warehouse etc.), if we serve the client’s goods trucking from their factory to our I.C.D. to store and send...

Through the E-service tax law, are we able to check if a foreign company registered VAT or not?

by panwa group | Sep 17, 2021 | 5.QA

Can we check if a foreign company has registered VAT through the E-Service Tax law. Panwa: Yes, can check with the RD website or can follow the link as below. https://eservice.rd.go.th/rd-ves-web/sea rch/company l’St:> www. rd.go.th >> English>>...