Are There Tax Breaks For Buying Car Through A Company?

[MisterBeetle]

Have a question. Thought I would ask here first incase anyone has had experience.

In many overseas countries you can purchase a vehicle through your business and get discounts and/or claim in your company tax return.

Is there such a thing here in Thailand?

I asked a car dealer and they didnt really understand my question: poor English and my poor thai lol.

We would be looking at buying two of the same cars as company cars/used for business use.

[stingray]

You'll pay 200% road tax if company registration. For example if the yearly Roadtax of a new Toyota Vigo 4 door is 5'000 Baht, you have to pay 10'000 Baht.

[hakku]

but you can deduct VAT and the car depreciation is tax deductible upto a value of 1 million baht.

H

[katabeachbum]

if your company is paying vat, payed 7% vat on car, fuel, service and insurance can be deducted.

insurance for company car is much more expensive and roadtax is double

most people own car privately, and deduct costs from personal income tax. most companies with a profit rent/lease cars due to direct deduct of costs.

[MisterBeetle]

if your company is paying vat, payed 7% vat on car, fuel, service and insurance can be deducted.

insurance for company car is much more expensive and roadtax is double

most people own car privately, and deduct costs from personal income tax. most companies with a profit rent/lease cars due to direct deduct of costs.

Wow, so it actually ends up costing more !

I might look into the renting/leasing option.

Thanks for all the answers everyone At least now I know.

[katabeachbum]

if your company is paying vat, payed 7% vat on car, fuel, service and insurance can be deducted.

insurance for company car is much more expensive and roadtax is double

most people own car privately, and deduct costs from personal income tax. most companies with a profit rent/lease cars due to direct deduct of costs.

Wow, so it actually ends up costing more !

I might look into the renting/leasing option.

Thanks for all the answers everyone At least now I know.

depends on your company. if you have much profit and company pays much tax, company car can reduce taxes.