I have a old Thai Amity company that I have not done anything with in about 7 years. No activity, no tax filing, nothing, just abandoned. What would the process be like to start it back up? Would the fines and drama be particularly heavy? Or would it be better to let sleeping dogs lie?

let sleeping dogs lie on all counts women, taxes and anything else

I was told that the fines for not submitting tax returns are capped at 6,000 Baht by an accountant on Samui.

I have one these also, would be good to hear from others.

You have to file all papers (tax returns) retroactively since the founding of the company including all fines. For 7 years I think the total costs would be around 60 - 80 k all included (fines, accountant, audits etc...).

I did it with a 3 year old company and costs where around 40 - 50k all in all. The "around" expression is there because I may or may not have included all detailed costs such as transportation, stamps, mail etc..

Edited December 15, 201510 yr by AlQaholic

Just form another one Let the other one sit dead

After seven years of no annual financial reports being filed, the company is liable to have been declared "defunct". You can check by going to http://www.dbd.go.th/Applications/cds/ and search the company name. Do NOT try to use the "Exactly" search function - that does not work. Use the "Begin With" function - enter the frist eight letters of company name in BLOCK LETTERS, and then search through the displayed choices. If the "Status" column shows "Defunct", then the company is not recoverable.

MS

Thank you very much for the advice. I checked out the DBD website and nothing at all came up. I wonder if it's because if it's a Amity company? Strange.