LTR Health Insurance : Self-insurance with US$100,000 Bank Deposit

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Annual Audit for Financial Year 2009

This is a reminder to all of you who have a company registered on or before December 31, 2009. Please be advised that your annual audit is due by May 31st 2010 and must be prepared by a licensed accountant. You must file regardless of whether your company traded or not. Failure to do so will result in a letter from the police department requesting you visit their offices to resolve the matter. This can result in fines of up to 100,000 Baht. Our professional fees start at 13,000 Baht for filing this audit (Thai translation of audit only).

Our audit service package includes:

1. Accounting (general journal & general ledger & trial balance).

2. Making the financial statement and submitting this to the revenue office.

3. Filing the corporate tax and submitting this to the Revenue Department (PND.50) and the Department of Business Development.

Please contact us at your earliest convenience so that we can start filing the audit on your behalf.

Also, please let us know if you have any questions or concerns regarding the audit.

*

We need your confirmation before the 15th March 2010 to give us a reasonable lead time, not only to avoid late penalties but also the service fee surcharges for "urgent cases", and to also strictly follow the timeline.

Our service fee surcharge for any "urgent case" is 3,000 Baht plus 7% VAT.

Important steps for you to take:

Step 1: Get a quote of the Audit Fee from Sunbelt Asia. This must be done by 15th March 2010. Please send us the agreed fee payment no later than 16th March.

Step 2: Send us the following documents that are required for the Annual Audit:

Income and expenses for 2009 (the Government receipts plus the Form PND.1,3,53, P.P.30, 36, Por Tor. 40 and Social fund for Jan - Dec of 2009)

Bank statement for 2009 (January 1, 2009 -December 31, 2009 and January 2010 for every corporate bank account (Current, Saving Account)

Inventory (if any)

Stock Cards.

Lease agreement.

If the company had purchased land, kindly give us the copy of the title of deed.

Annual Audit 2008 (Financial Statement & Auditor Report, PND.50 incl. General Ledger, Trial Balance and Assets Register). If you are our client, we will already have this in our files.

Company Seal

Half Year Report 2009 (PND 51)

f you want the annual audit in English version (The Auditor's Report and Financial Statement only), our extra fee is 7,490 THB (including VAT 7%)

** Step 2 must be done by 20 April 2010 at the latest. Without all the complete documents, Sunbelt Asia cannot and will not guarantee the on time delivery of the annual audit for your company.

1. We will send your annual audit for your review and to be signed by the Director in charge of your company.

2. We will instruct you to make a cheque payment to the District Revenue Office if you have any corporate income tax to be paid.

Here are some of the important changes and additional steps that must take place after the Auditor has signed approving your financial report effective July 2008.

After the auditor has signed the Audit Report, the company must advertise in a local newspaper announcing to the public that they (Director and Shareholders) will have a meeting discussing the financial status of the business. This announcement must be published within seven days of the auditor signing the Financial Report.

Also, within seven days the company must send an invitation for a meeting to all its shareholders. The invitation must be done by post and each shareholder should reply by post also. These letters of invitation and confirmation from the shareholders to attend the meeting must be kept as proof that the process of Audit has been done according to Thai Law. After the meeting has taken place as mentioned in the letter of invitation, the director or person in charge must make minutes of the meeting, the meeting of all shareholders with regards to the Annual Financial Audit for the year 2009 must be announced in the government gazette before April 30th of 2010. The whole process of Audit must be completed within one month of the auditor signing the report.

- The official government deadline for submission of the 2009 Annual Audit is 31 May 2010. However, from the attached timeline you can see the process must be started much earlier.

Therefore it is absolutely important that you give us a firm commitment and payment to use our service by 15th of March 2010 to give us enough time to plan and to work for you so as to help you avoid any late penalties or additional filing fees.

Please note that the Audit process once started must be finished within a timeline of 30 days after the auditor has signed, or the process must be redone.

Please kindly note that Sunbelt Asia Co., Ltd. will not be responsible for any late fees or penalties occurring because of non-compliance with this timeline. We also ask you to understand that we cannot advance any tax payments or penalties.

Should you have any questions regarding the taxes that must be filed, please feel free to contact our Client Relations team. They will be very happy to help you. Please call 02-642-0213 or e-mail us at [email protected]

Hope to hear from you soon. Thank you.

Best regards, Kanungnit (Ae) Jantra

Head of the Sunbelt Asia Accounting Department

-- sunbeltasia.com 2010-02-09