by panwa group | Dec 3, 2018 | 3.Accounting-Tax
Withholding Tax Certain types of income paid to companies are subject to withholding tax at source. The withholding tax rates depend on the types of income and the amount of tax status of recipient. The payer of income is required to file the return (Form CIT 53) and...
by panwa group | Dec 1, 2018 | 3.Accounting-Tax
Personal Income Tax Personal Income Tax (PIT) is a direct tax levied on income of a person. A person means an individual, an ordinary partnership, a non-juristic body of person and an undivided estate. In general, a person liable to PIT has to compute his tax...
by panwa group | Dec 1, 2018 | 2.Corporate, 3.Accounting-Tax
Property tax Property tax is imposed and collected annually. There are two kinds of property tax in Thailand: (1) house and land tax and (2) local development tax. Under the House and Land Tax Act B.E.2475 (A.D. 1932) as amended, the tax is imposed on owners...
by panwa group | Dec 1, 2018 | 3.Accounting-Tax
Specific Business Tax Specific Business Tax (SBT) is another kind of indirect tax introduced in 1992 to replace Business Tax. Certain businesses that are excluded from VAT will be subject to SBT. Person liable to SBT Any person or entity who engages in certain...
by panwa group | Nov 21, 2018 | 2.Corporate, 3.Accounting-Tax
Fine rate – Late submission of financial statement in Thailand (For company limited / public company / limited partnership / joint venture) Under Accounting Act B.E. 2543 Section 11 Paragraph 1, the company will be responsible to pay for the penalty upon late...
by panwa group | Oct 30, 2018 | 1.Services, 3.Accounting-Tax
Accounting period and how to change the accounting period in Thailand An accounting period must be 12 months. Unless the Articles of Association state otherwise, a newly established company should close accounts with 12 months of its registration. Thereafter, the...
