Company Tax Return

[johnnyk]

I formed my company on April 21. It has not done any business yet but I expect to begin active trading in Spring or Summer 2007.

When must I file the tax return? End of calendar year or do I choose a fiscal year-end?

Am I supposed to file monthly statements?

I have heard I can get a return done and filed for 10K baht.

Is this a reasonable figure?

Any help is very much appreciated.

Thanks

[siriratc]

I formed my company on April 21. It has not done any business yet but I expect to begin active trading in Spring or Summer 2007.

When must I file the tax return? End of calendar year or do I choose a fiscal year-end?

Am I supposed to file monthly statements?

I have heard I can get a return done and filed for 10K baht.

Is this a reasonable figure?

Any help is very much appreciated.

Thanks

You have to file tax return twice a year,semi annual and annually but as this year is your 1st yr,you will file only year end one,the ded line of filing for yr 06(if you use calendar yr) is within 150 days from the end of December.The rate youve got is quite low,you have to check the quality of services.

[Wekhin]

I formed my company on April 21. It has not done any business yet but I expect to begin active trading in Spring or Summer 2007.

When must I file the tax return? End of calendar year or do I choose a fiscal year-end?

Am I supposed to file monthly statements?

I have heard I can get a return done and filed for 10K baht.

Is this a reasonable figure?

Any help is very much appreciated.

Thanks

Half year filing must be done within 2 months after the end of half accounting year. Annual filing must be done within 150 days after the end of accounting year.

It is hard to tell whether 10K is reasonable or not. It depends on the kind of business you are in, i.e. service, trading, manufacturing. Although the company has not done business yet, there might be some transactions that need to be recorded properly or the company might be in some business process like preparations, arrangements, installations, etc. or even quite a few of movements in bank account.

[johnnyk]

Thanks for the replies, wekhin and siriratc.

So, if I understand correctly I need to file my first year-end return by the end of Feb/07.

A friend was quoted 10K baht for his return.

I'm thinking this may be reasonable at this time as both our companies have done no trading so just a lot of zeros so far.

[Wekhin]

Thanks for the replies, wekhin and siriratc.

So, if I understand correctly I need to file my first year-end return by the end of Feb/07.

A friend was quoted 10K baht for his return.

I'm thinking this may be reasonable at this time as both our companies have done no trading so just a lot of zeros so far.

If you are to file by Feb 07, that means your a/c year ends on 30 Sept 06.