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Posted

My wife and I recently started ***** ********, a real estate agency specialising in up-market properties for sale and rent in Chiang Mai. A relatively major expense (although a lot cheaper than in Europe) was the cost of setting up the website.

Yesterday the Revenue Department told my wife that we must depreciate the cost of the website over 10 years for tax purposes. To me this sounds far too long as most websites get canned and rebuilt in a lot less than ten years, and I'm sure ours will be no exception.

Does anybody know anything about this? The business is incorporated as a limited company in Thailand.

Many thanks

  • 6 months later...
Posted

I thought all assets were depreciated over 5 years? That's what my company does (on advice of service provider) and I have been through many annual audits without any questions being raised by revenue department.

... and if you can your website to rebuild then you will have to account for the undepreciated amount in your company P&L in the year of canning - which makes it logical to depreciate over a shorter term . But then when was anything logical here ...

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