chriswatson Posted December 28, 2009 Share Posted December 28, 2009 Hi, A few years back I formed a Thai company with a reputable lawyer to purchase some land. As it turns out, I've since transferred the land into my wife's name and now have a dormant Thai company. To wind the company down, my lawyer states this would cost me 20K bht. To keep it as a going concern will cost be about 13K/annum to file the accounts. There has been no income or costs associated with the company over the years, and I'm happy to keep the company live as it may have a use for me in the future, but I'm surprised that the cost for a company's accounts return is so high in Thailand. I have a small company of my own in the UK with far more activity, and am charged about twice as much for a return by my UK accountant than I am by my Thai lawyer. Is a 13K bill per year a reasonable figure for my lawyer to ask for to file a company return that has zero activity year after year? And is it usual for a Thai lawyer, rather than an accountant, to do the filing? Thanks in advance for any advise on this. Link to comment Share on other sites More sharing options...
Phil Conners Posted December 28, 2009 Share Posted December 28, 2009 I think the annual filing has to be done by an officially registered accountant hence the high fee. Link to comment Share on other sites More sharing options...
joskydive Posted December 28, 2009 Share Posted December 28, 2009 Your Annual accounts have to be done and filed by a registered Accountant. Your Lawyer is probably charging a little more for acting as the agent for the Accountant. Link to comment Share on other sites More sharing options...
chriswatson Posted December 30, 2009 Author Share Posted December 30, 2009 Thanks guys - from this I'll take it that the fees charged by lawyer (perhaps on behalf of an "official" accountant) are reasonable? Link to comment Share on other sites More sharing options...
Phil Conners Posted December 30, 2009 Share Posted December 30, 2009 Hm, I wouldn't call the fees reasonable, but it's what they charge. And as you apparently MUST have it counter signed by this authorized thing you don't have a choice but to pay. :shrug: Link to comment Share on other sites More sharing options...
chriswatson Posted December 30, 2009 Author Share Posted December 30, 2009 Hm, I wouldn't call the fees reasonable, but it's what they charge. And as you apparently MUST have it counter signed by this authorized thing you don't have a choice but to pay. :shrug: File under "This Is Thailand"? Link to comment Share on other sites More sharing options...
TravelerEastWest Posted December 31, 2009 Share Posted December 31, 2009 Hm, I wouldn't call the fees reasonable, but it's what they charge. And as you apparently MUST have it counter signed by this authorized thing you don't have a choice but to pay. :shrug: File under "This Is Thailand"? With basically no activity you should be able to have a Thai CPA in a small office take care of it for 10,000 maybe slightly less. Link to comment Share on other sites More sharing options...
keestha Posted January 2, 2010 Share Posted January 2, 2010 Could be that I am wrong, but is not a company only allowed to remain completely inactive and devoid of possessions for a limited period of time, such as two years? Link to comment Share on other sites More sharing options...
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