if I set up a company in Thailand can I buy another company in a western country and still running business there but pay tax in Thailand?

Yes a Thai company can purchase and run an overseas company but it must follow the taw laws of that country and any tax treaties that country may have with Thailand just as any foreign company setting up in Thailand must follow Thai laws and tax treaties.

You will need to check and see if any agreements and tax treaties may exist between that country and Thailand to determine if you receive any special tax benefits.

[sunbelt][/sunbelt]