As the global landscape for cryptocurrency continues to evolve, countries worldwide are defining their stances on digital assets. Indonesia, with its rapidly growing economy and technological advancements, has been no exception. The regulation of cryptocurrencies in country has become a focal point for both local and international investors. This article delves into the specifics of…
Commonly, legal opinion is what we consider as an experienced lawyer’s advice. It is presented in the form of a document prepared by a client’s requirement. The article will provide you with all interested details regarding the provision of legal consultation. Legal opinion: Why do we need it? Banks frequently demand LOs from risky businesses…
1. Sorts of Commercial Units, Their Homestead and General Charge issues This country offers diverse business units with distinct lawful divisions, including the SA requiring EUR 30,000 minimum capital and the SARL with EUR 12,000, managed by boards of directors. The SARL limits subsidiaries to one hundred and could not trade publicly, while the SCA…
1. Trade License Acquiring a pervasive trade licence is a pivotal step for most commercial functioning in Switzerland. This licence is mandatory that assures your commercial functioning bonds to indigenous market rules and protocols. Here’s what you should know: Submission routine: You can apply for a commercial licence to the local canton’s market branch. This…
This is a new investment opportunity – SPI license in UK for sale. Please check out the main details regarding this proposal below. SPI license in UK for sale: key considerations Small Payment Institution (SPI) in UK for sale; Company was licensed by FCA in 2018; Allowed activities (money remittance, foreign exchange); Company has 3…
Seize the opportunity to effortlessly establish your business in the UK with our ready-made company, complete with premium bank accounts at Barclays and HSBC. Key features Company for Sale in UK with Barclays & HSBC Accounts Company Details: – Incorporated: 2024 – Registered Address: England – Company Type: Private Limited Company – Nature of Business…
Are you ready to establish your business presence in the UK effortlessly? Discover our exclusive offer—a ready-made company with immediate access to Natwest, Revolut, and Wise bank accounts. Here’s what you need to know: Key features Company for Sale in UK with Established Bank Accounts – Company Details: Founded in 2024, work in non-specialised wholesale…
An active transportation company limited by shares (SA) in Switzerland is now available for sale. This company, was established in 2020 and operates in the passenger and cargo transportation sector with a focus on sea and rail transport. Key Features Transportation Company in Switzerland Corporate Structure Form: Company limited by shares (SA) Year of Registration:…
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A limited company or partnership is considered local (resident) if they are formed in Thailand and registered by Ministry of Commerce.
Local companies pay taxes on income generated both inside Thailand and overseas. There are no differences in taxation of these income categories for income tax purposes.
Foreign companies pay taxes on income generated only within the country. A permanent establishment of a non-resident company or a foreign partnership is generally taxed according to general rules.
A company has tax burden if it is not legally registered in Thailand but has an actual tax presence there.
The main tax for enterprises is an income tax.
Taxes are subject to net profit of the entity. In the structure of such profit, sources are distinguished on profit from the company’s activities, profit from passive income and profit from capital increase.
The deduction from the taxable profit of funds spent in the course of the company’s activity is legislatively fixed.
The tax rate is 20%. However, Thailand stimulates small and medium-sized businesses.
It is for such size enterprises which meet a progressive tax rate that depends on the volume of the company’s profits. Accordingly, the lower the profit of such companies, the lower the rate.
In Thailand, you can also meet the tax on gross revenue with a rate of 3%. It is paid from the total revenue, but not from the net profit. Nowadays non-resident companies engaged international freight and other transportation services are the only category for such taxation.
Labor and social taxes are presented in the form of payments charged at 5% rate of the employee’s salary. The payer can be both the employer and the employee.
Value added tax is levied on services rendered and goods sold. Certain activities are except. For example: sale unprocessed agrarian products, selling print media, transport services within Thailand, etc.
The VAT is cut down to 7% rate until September 30, 2020. The standard rate is 10%. The 0% rate is applicable for export activities.
In Thailand, a taxpayer company is required to independently assess its profits, after which it is required to pay an advance tax on profits for the first six months of the taxable period.
The payer is given 2 months to submit the corresponding semi-annual declaration and 150 days to prepare and file an annual declaration without the right to extend this period.
The accounting department of the company must compile quarterly, annual financial reports and provide declarations to the tax service. Contact us for more information.
The international company Eternity Law International provides professional services in the field of international consulting, auditing services, legal and tax services.