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How To Properly Report Expenses To Foreign Providers

SamuiTraveler
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SamuiTraveler Newbie

SamuiTraveler

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Say you own a Thai company and you work with an overseas partner whom you pay for services. A good example would be that you develop software in India or you work with a sales or web hosting company in Europe, etc..

When it is time to file your Thai company annual taxes how do you properly report these expenses and hopefully avoid paying taxes on the money that you spent on these services?

My accountant here in Thailand does not have experience in that area.

Any help is much appreciated.

Edited by SamuiTraveler
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bkkflyer Senior Member

bkkflyer

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I am definately not an expert on this, but have had something similar in my business in Europe.

I would imagine that if the services has been "transferred" to Thailand in any way, i.ex electronically (software files/digital consultancy report) or a physical product (a disk/dvc for instance) you would need to do customs formality (import declaration) and pay VAT and possible import duty.

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