Withholding Tax Return For Rentals

[LiudmilaBoikova]

Hello guys,<br><br>I have a new letting (house rentals) company in Thailand.<br><br>My customers send money to my company's bank account and I'm sending money to the owners of the houses operating as an intermediary.<br><br>If the owner is a Thai company there's no problem for us - we deduct a 5% withholding tax from the payment and pay it on their behalf. <br><br>But I can't find any information how to deal with the individuals - Thais and foreigners. Some non-Thais live abroad and want to receive money to their accounts in the banks outside Thailand. Some of them live here and want to receive money to their bank accounts in Thailand. And there're also Thais who want to get cash and don't want to hear about taxes.<br><br>As I know the withholding tax for the companies outsite Thailand is 15% but what about individuals?<br><br>What should I do by law to deal with these categories of house owners?<br>

[Sunbelt Asia]

The withholding tax is 15% regardless of whether its an individual or a company that is overseas.

Your company must pay the withholding tax for every payment and submit to the government monthly. To fail to do so could, when you are audited, result in fines for non-payment.

[sunbelt][/sunbelt]

[LiudmilaBoikova]

Your company must pay the withholding tax for every payment and submit to the government monthly. To fail to do so could, when you are audited, result in fines for non-payment.

Thank you for your answer.

But my accountant told me that as I am an agent I must not pay Withholding tax for every payment. She explained that If I rented the house myself (like office) I would have to pay this tax. But as I operate just as an intermediary, it is not my duty.

Could you please clarify it ASAP because a lot of transactions have been already done and I do not include this tax in my expences. If the Revenue Deptment makes me pay all these taxes some day it will be a really enormous amount.

Edited November 23, 2011 by LiudmilaBoikova