How long does it take to transfer 49% shares from an individual shareholder to an overseas corporate shareholder (after the incorporation is done)?

by panwa group | Sep 15, 2021 | 5.QA

Once company incorporation is done, how much time will it take to transfer 49% shares to our Indian company from individuals? Panwa: Kindly note that we can transfer the shares from individual to company in the next day after the company is incorporated in the second...

In the case of decrease the capital after the end of the accounting period, how will this capital be presented on the financial statements for this period?

by panwa group | Sep 15, 2021 | 5.QA

The company has decreased capital after the date end of the period. In the case of the financial statement for this period, how will the company do/present about the capital? Panwa: Please note that the decreased capital will only be shown on the note of the financial...

If I am a retiree who has traveled and lived in Thailand which spent my savings and pension money from my country while living in Thailand, am I obliged to pay the personal income tax here?

by panwa group | Sep 15, 2021 | 5.QA

I’m a retired tourist (62 year old) and I travel and live in Thailand in 1 year which I spent my saving and pension money obtained from my country. I would like to know if I need to pay the personal income tax in Thailand or not? Panwa: Please note that you do not...

If a company received a bonus for selling a certain product more than its sale target, is the bonus applicable for VAT?

by panwa group | Sep 15, 2021 | 5.QA

The company received  a bonus for selling products  more than the expected target sales. The seller deduct  3% withholding tax already and does it need to pay for VAT or not? Panwa: No need to pay for VAT due to the bonus is not a compensation for selling the...

If a Thai company gives gifts to its employee, is that gift applicable to any tax(es)?

by panwa group | Sep 15, 2021 | 5.QA

The company gives the new year gift to staff and how about the tax? Panwa : The company gives annual New Year gifts to staff and sets them as staff welfare regulations. Whether it is given to everyone or only to certain people, it is considered as assessable income of...

For modify article of association, can it be done at a later stage (after the company is set-up)?

by panwa group | Sep 15, 2021 | 5.QA

To modification of article of association for classification of share to be common share and preferred share, If we’ll do it in future would it be possible? Panwa: Please note that  actually you also can do later, in the future but you can do only when you need...