Tax Planning

Tax Planning

Tax Planning is a requirement when you own a business especially if you establish a business in Thailand. In order to oversee the taxable fees your company incurs, one must be able to monitor the taxes of the company through Tax Planning. At Juslaws & Consult, we recognize that proper tax planning can result in significant financial benefits for our clients. Our top priority is to minimize the tax exposure of an individual or a company by providing Thailand-specific tax planning advice and services. It is also imperative to keep clients advised of changes in Thailand's tax regulations.

In respect of a client's international dealings, our advisors may review onshore and offshore structures and relevant double taxation agreements to optimize the tax position on cross-border transactions.

Tax Documentation

Every company requires to submit different tax documents at the Revenue Department, and if you are not a professional Thai accountant you will surely need to hire someone who can manage the taxes and accounting matters of your company. Tax forms such as:

  • Kor Tor 26 Kor for the Social Security Office.
  • Kor Tor 20 to attach to Form Kor Tor 20 Kor with the Social Security Office.
  • File form of foreign employees’ income with the Revenue Department with form PND 1
  • Tax form PND 1 Kor with the Revenue Department.
  • Financial statements and Corporate Income Tax Return (PND 50) with the Revenue Department.
  • File the interim corporate income tax return (PND 51) with the Revenue Department.

The abovementioned tax forms are just the basic tax requirements that one company is required to submit yearly and monthly to the Revenue Department and other relevant government departments in Thailand for taxation purposes. That is why it is advised to retain a good and professional accounting firm who can help you with tax matters.

The Tax Experts

We provide expert knowledge to clients and companies in relation to all local taxes, such as corporate income tax, sales tax, withholding tax, stamp, and customs duty – and offer advice on tax planning strategies.

In addition, we are able to present an integrated approach on matters as diverse as claiming tax refunds, appealing tax assessments, and preparing periodic tax filing documentation for submission to the tax authorities.

Juslaws & Consult has a solid track record in representing the interests of clients with Thai tax authorities in areas of a specific business or legal concern where tax regulations are not clear.

As most commercial agreements are subject to a variety of taxes, the parties involved should be familiar with the relevant taxes that can be imposed. We advise our clients on the optimum structure for a commercial transaction in order to minimize their tax exposure.

In most instances, tax cases that reach Thai courts are examined on economic reality as opposed to the contractual relationship stipulated in an agreement. This is known as the doctrine of "substance over form". In this approach, for taxation purposes, the economic realities of commercial transactions are considered in determining the type of agreement or contractual relationship that actually exists.

In this regard, in commercial contract tax planning, lawyers in our Taxation department analyze the economic reality underlying a deal and draft an agreement that ensures the tax burden is minimized.


Summary

Juslaws & Consult is not just famous for its outstanding corporate and legal services, we are also well-known for our intricately detailed accounting and tax services which we offer to companies in and out of Thailand.

It is important for a business entity to have a good accounting partnership, with Juslaws & Consult, we have lawyers who have extensive knowledge on Tax Planning in Thailand and experience in providing tax planning advice and services to individuals or businesses in Thailand. If you require additional information on any of our Taxation services please do not hesitate to contact us.