Setting Up A Company Elsewhere

[Digger]

Well if the company buys a house cant the MD stay there free of charge as part of his expat package? G you said something like this on page 1.

In a nutshell, no. Its considered a benefit in kind which is taxed exactly the same as income. However if the revenue office get to that stage with you, you can be sure they will be assessing it on a 'market' rent rather than what otherwise would have been considered acceptable had you not flouted the rules. Do yourself a favour volunteer to pay a rent level and it will likely be accepted without question. If they do a after the event valuation, you can be sure it will be a lot higher than you would have set yourself.

[~G~]

I can use the Ausie example, you can claim any % of vehicle costs as a business expence, however, you have to substansiate it.

Proper documentation makes everything much easier. For example, even with small expenses such as Taxi trasnportation, we specify the destination and the purpose of the trip in the payment voucher. It is more credible than just writing a sum with no explanation.

I'd be curious how many of these types of 'expenses' get past your accountant and included in your audited expenses. My experience is that unless its a correct tax invoice or other detailed correctly made out receipt, it just falls out of the audited expenses and never gets included. You may be doing a lot of work for nothing on these small value things.

Well, not a lot of work and it does get approved. if my staff is going to extend my work permit by Taxi for example, she will just write another Payment Voucher in addition to the others, for example:

Transportation by Taxi... Date:...

Office to Ministry of Labour: 150 baht

Ministry of Labour to Office: 150 baht

Total: 300 baht

Takes 2 minutes and you've got 300 baht of recognized expenses with no receipts. Nothing wrong about it since the expenses are real and the amounts are reasonable.

It was done last year according to the instructions of our accountant and passed the Yearly Audit with no difficulties whatsoever. Those items were summed as "Travelling and Trasnportation" in the Balance Sheets.

[mouse]

As of now it will be open to the 1st of Sept. 2006

Can anyone tell me......In reference to the Aminity Treaty..... has it again been extended? Until when?

[mouse]

The reason for my question above is that on one hand I am hearing it has expired 1 Sep 2006 and on the other hand I have found this:

ARTICLE XIV

1. The present Treaty shall be ratified, and the ratifications thereof shall be exchanged at Washington, D.C. as soon as possible.

2. The present Treaty shall enter into force one month after the date of exchange of ratifications. Thereupon it shall replace and terminate the Treaty of Friendship, Commerce and Navigation signed at Bangkok on November 13, 1937.

3. The present Treaty shall remain in force for ten years and shall continue in force thereafter until terminated as provided herein.

4. Either Party may, by giving one year's written notice to the other Party, terminate the present Treaty at the end of the initial ten-year period or at any time thereafter.

IN WITNESS WHEREOF the respective Plenipotentiaries have signed the present Treaty and have affixed hereunto their seals. DONE in duplicate, in the Thai and English languages, both equally authentic, at Bangkok, this twenty-ninth day of May in the two thousand five hundred and ninth year of the Buddhist Era, corresponding to the one thousand nine hundred and sixty sixth year of the Christian Era.

For the Kingdom of Thailand:

(Signed) Thanat Khoman

For the United States of America:

(Signed) Graham Martin

[Sunbelt Asia]

It was just extended till Dec 5th 2006.

Because of the WTO commitments, the Thai government may in the future, no longer accept Amity applications.

To date, they have not released an official indication on this issue. In January 2006, the Thailand Department of Business Development, Ministry of Commerce suspended issuing new business certificates to Us parties. After that two month suspension, they resumed issuing the certificates. The window is being extended every 90 days. We are now in our third extension.

We STRONGLY advocate if you are thinking of applying for the Business certificate so your company can be controlled and owned by foreigners ( Americans must have 51% and majority of Directors must be Americans) you do it NOW!!!

www.sunbeltasiagroup.com