lostinparadise Posted May 24, 2009 Share Posted May 24, 2009 Hi forum members. I have just been informed that there are taxes unpaid (and income undeclared for) for the year of 2007 in my Thai company. I myself have been abroad since August 2007 and the company has been sleeping since. I.e no business being conducted. I though all taxes were paid and everything was ok but apparently, the werent. So, I guess I could be facing charges of tax evasion. My guesstimate is that the missing tax amounts to maybe 50-80K baht. Do any members of this forum have experiences in these matters? What are the consequences and how does one deal with these things? Thank you for any guidance. Link to comment Share on other sites More sharing options...
BangnaBound Posted May 25, 2009 Share Posted May 25, 2009 I had a similar problem. That isn’t a large amount of money, so you don’t need to get too stressed. It’s not really tax evasion at this point if you still intend to file your paper work. Essentially, you need to find an accountant to file your paper work, pay your tax, and pay your fines. The fines are basically interest on the overdue amounts, and are not that outrageous. Link to comment Share on other sites More sharing options...
Shah Jahan Posted May 25, 2009 Share Posted May 25, 2009 So, I guess I could be facing charges of tax evasion. My guesstimate is that the missing tax amounts to maybe 50-80K baht. Just out of curiosity, who exactly told you this information? meaning that... I dont know anything about your situation or whoever told you this information, but based on my experiences in thailand there is most likely more than a %50 chance that the person that told you this information is fudging it a little to get a payout from you. just a thought. these things have been known to happen... Link to comment Share on other sites More sharing options...
lostinparadise Posted May 25, 2009 Author Share Posted May 25, 2009 I had a similar problem. That isn't a large amount of money, so you don't need to get too stressed. It's not really tax evasion at this point if you still intend to file your paper work.Essentially, you need to find an accountant to file your paper work, pay your tax, and pay your fines. The fines are basically interest on the overdue amounts, and are not that outrageous. Thanks for the info. I have an accountant and have filed for 2007 already. But some of the invoices for that year weren't registered and those missing invoices are what the unpaid taxes relate to. I'll check with my accountant on how to update the filings with the missing invoices and see what happends. So, I guess I could be facing charges of tax evasion. My guesstimate is that the missing tax amounts to maybe 50-80K baht. Just out of curiosity, who exactly told you this information? meaning that... I dont know anything about your situation or whoever told you this information, but based on my experiences in thailand there is most likely more than a %50 chance that the person that told you this information is fudging it a little to get a payout from you. just a thought. these things have been known to happen... Thank you for your concern. However, nobody told me this. I simply assumed that this would be the case as my company had already filed an annual return without declaring all income. Isn't that what tax evasion is? Link to comment Share on other sites More sharing options...
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