Hi,

I have a question if anyone can help…

What are the implications / risks for a company registered as Board of Investment (BoI) status (getting tax benefits and able to employ more foreigners) that is carrying out a different business practice to what has been filled for their BoI status as well as their company registration filing? Could such a company be closed down / face a significant penalty if the BoI / thai tax office / company registration office was to find they were trading differently to what had been filled relating to the nature of business and activities?

As a note, this question does not concern me or the company I work for.

Thanks in advance.

The BOI can revoke the company's privilege either in part or whole. Then the company will be required to pay the full taxes that were previously waived as a BOI company. Finally, additional punishment may be imposed by other government sectors and can include such charges as violation of the Alien Business Act, working outside the permitted scope.etc.

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