boriga Posted April 2, 2016 Share Posted April 2, 2016 Our accountant has told us that recent changes in SME regulations by the current government will reduce the corporate profit tax to zero in the current tax year 2559. However, they also advised that the regulations require the full distribution of all retained earnings on the balance sheet within 2559, subject to a with-holding tax of 10%. Has anyone else received similar advice or can provide any evidence to support such new regulations. Thanks in advance. Boriga Link to comment Share on other sites More sharing options...
theDukes Posted September 10, 2016 Share Posted September 10, 2016 My accountant has told us the same thing, I have 6 separate companies under the threshold and 1 that does not qualify, but neglected to mention about the full distribution of retained earnings. I figured there must be a catch so that's why I was checking here. If you were going to pay the 10% tax on the corporation it seems that saving that and paying the 10% for the distribution would be a good deal. The problem arises if you have a lot of retained earning from past years. I'll ask again and clarify. D Link to comment Share on other sites More sharing options...
theDukes Posted September 12, 2016 Share Posted September 12, 2016 She said everything is the same but we don't have to pay corporate income tax this year. She said we don't have to distribute all of retained earnings but if we do the tax, 10%, is still the same. This seems logical because why would the government require your company to pay out all of its cash. But, don't take my word for it or my accounting. Please get another opinion and check with your accounting. D Link to comment Share on other sites More sharing options...
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