Car recommendations

[Wonderboy]

I have  a fairly new small company that do IT work for clients in Europe. The accountant of a Thai friend's company does the books, as I am totally inexperienced with such matters. This week I was informed I have a lot of  tax and late payment fees outstanding since supposedly I should pay a 15% withholding tax on all payments coming from abroad. If my company pay it, technically it's not withholding tax, but more importantly, is it correct that there is such a fee (whatever name it may have)? I have searched and found nothing. There is a 15% withholding tax on some classes of payments going outwards to foreign companies. Can it be that someone mixed up something here?

 

When I politely asked my friend and the bookkeeper about it, they got offended, so I cant even discuss this topic with them. International billing is not something they have dealt with before, so nice to get it confirmed. My clients in Europe pays local VAT in their respective country, so it looks like double taxation to me.

 

Anybody have some thoughts on this?

 

Thanks,

WB

Edited August 23, 2018 by Wonderboy

[AJBangkok]

I would say it’s a 15% witholding tax collected in the country that is sending you the payment. Thailand does not have a withholding tax on inward remittances. 

[Wonderboy]

3 hours ago, AJBangkok said:

I would say it’s a 15% witholding tax collected in the country that is sending you the payment. Thailand does not have a withholding tax on inward remittances. 

Thanks, for answering. All the information I have able to gather is same as you say, no "withholding" tax for inward remittance. I think the confusion is due to the fact that outward remittances to foreign entities are sometimes subject to withholding tax.