Accounting Scam Or Nightmare!

[thaimex]

Our accounting firm which based in Samui is such a nightmare that we have decided to take on the daunting tasks of taking care of our own work permits, tax salary, Insurance registration etc.

Does anybody know where taxes get paid and what the process is of doing these things ourselves. For years now we have put blind faith in our accountant from Samui, we now find out that a client of hers

a mutual friend of ours been audited by Thailand's IRS and is now mandated to pay millions of baht in back taxes. Our friend claims that all the taxes were paid to the accountant, the accountant claims that the

company never paid the taxes and is now responsible for them not taking any responsibility herself or standing by her client when he needs her most. This coupled with the fact that now we can tell our accountant is

not interested in doing a proper job for us (giving us bogus and inflated bills and not completing her tasks) we have decided to see what we can do in house. Any advice, information or suggestions is well appreciated.

At this point we are gathering information and doing some research! Thanks for any assistants and wish us luck!! TIT

[oldsalt]

This doesn't really help, but any taxes our company pays through the accountant are in the form of "account payee only" cheques to the Revenue Department , Social Security Fund, etc., so is there no chance of the accountant keeping the money. His office just collects and lodges our cheques and does the necessary paperwork. His monthly fee is around 7000bt to take care of the monthly requirements, including VAT lodgment and the annual accounts. Annual work permit is extra. I don't know what you were paying, but you should be able to find a Samui accountant for around the same monthly fee. If you try it yourself, it might be a good idea to go to someone reputable like Sunbelt and pay them a one off fee to walk you through the process.

[dre1247]

This doesn't really help, but any taxes our company pays through the accountant are in the form of "account payee only" cheques to the Revenue Department , Social Security Fund, etc., so is there no chance of the accountant keeping the money. His office just collects and lodges our cheques and does the necessary paperwork. His monthly fee is around 7000bt to take care of the monthly requirements, including VAT lodgment and the annual accounts. Annual work permit is extra. I don't know what you were paying, but you should be able to find a Samui accountant for around the same monthly fee. If you try it yourself, it might be a good idea to go to someone reputable like Sunbelt and pay them a one off fee to walk you through the process.

I solved the situation by hiring a capable staff starting at B 10,000. Deduct the B 7,000 you spend on an accountant and you have an extra staff for B 3,000. The annual accounts have to be done by another company anyway and should be done for B 10 to 12,000 once a year. This staff I hired used to work for an accounting office (for B 7,000 a month, guess who is happy) and knows the way and all the addresses.. I never regretted this structure. Visa and work permit was done by another capable company and the end result is that I now have Thai citizenship, thats how good they do their job. Also in Samui one must be able to find good offices, ask around, do some research.

[soundman]

Not really location specific,

Moved to Business forum.

[spongeman]

Doing a DIY job always has risks.

Getting proper advice reduces those risks.