Is it possible to buy from individuals as a thai company ?

[JohnnyBKK]

Hello,

 

1. Can I buy second hand stuff or services from individuals in Thailand as a thai company ?

 

My accountant said I need invoices for every expense, let's say I want to buy a second hand computer from an individual in Thailand, he is not going to make an invoice for us.

Also, let's say I want to rent some space inside the house of an individual in Thailand to store some of the company stock.

 

Best regards,

[jackdd]

Probably it's possible to write a receipt for this by your self, same as in western countries. To make sure you are doing it right it's probably best to ask a tax lawyer about this.

[TravelerEastWest]

You can certainly buy from individuals - why not?

 

Maybe he is not being clear and is telling you that upon audit the expense may be disallowed?

 

But if you really wnated to buy something - a painting for your office wall as an example - you certainly can receipt or not.

[EcigAmateur]

Yes, receipts and being legal is very important in Thailand :-)

 

 

[blackcab]

Any purchase from an individual over 1,000 baht and you need a signed copy of their ID card and you have to withhold tax from them.

 

You give your accountant the ID card copy, the WHT form and the withheld tax. Your accountant pays the tax for you and keeps your books in order.

 

Under 1,000 baht and you need a signed ID card copy but you can use a petty cash voucher.

 

The company I work for does this every month.

[JohnnyBKK]

thanks!

[TravelerEastWest]

On 10/19/2017 at 9:33 AM, blackcab said:

Any purchase from an individual over 1,000 baht and you need a signed copy of their ID card and you have to withhold tax from them.

 

You give your accountant the ID card copy, the WHT form and the withheld tax. Your accountant pays the tax for you and keeps your books in order.

 

Under 1,000 baht and you need a signed ID card copy but you can use a petty cash voucher.

 

The company I work for does this every month.

Are you saying this is a revenue department rule or your company rule?

[blackcab]

1 hour ago, TravelerEastWest said:

Are you saying this is a revenue department rule or your company rule?

 

The retention of withholding tax is a revenue department rule. If you do not do it then your company is liable for the WHT, penalties and interest.

 

The 1,000 baht cutoff is what our accountants and auditors are happy with and is a company rule.