Company Taxes

[baagim]

Hello to all.In my earlier post i mentioned that the lawyer has asked me to go to his office to pay the company taxes 173,000 baht.Would this figure have come from the tax office to the lawyers office and Should they have that letter in their files?Would appreciate any help with this matter.Thanking you.

[BrianCR]

Where are your accounts? For the tax office to ask for company taxes of 173,000 baht either your accountant or someone must have submitted documents. A trusted lawyer would show you the letter whilst at the same time advising you - have you asked to see it?

[baagim]

Thanks for replying.The accounts are with the lawyers.( 2012 company taxes)I'm going to their office this week and will ask to see the letter.I thought the money (133,000 baht +fees) i paid at the land office was all the company had to pay.The house was the only company asset, sold in August 2012.

[craigt3365]

yearly taxes for a nominee type company setup should be 12-15k Baht or so. If it is only being used for the purposes of home ownership. When you sold your house, sounds like you paid the associated taxes already. Not sure what these additional taxes are for???

[Arkady]

A company is charged a basic amount of tax on the sale of land at the Land Office at the time of transfer. Of course the Land Office is not in a position to know what the company's overall tax liability for the year is going to be with the Revenue Department. The amount of tax already paid is counted as a tax credit for the annual corporate income tax return but, once the company submits its audited accounts for the year, there may be more tax to pay. This will be pretty obvious from the company accounts that were signed by the authorised director. Perhaps the lawyer is also the authorised director in this case.