Department warns of business contacts with unreliable 23,000 companies



BANGKOK: -- The Department of Business Development has put a total of 22,992 companies on the list of firms having high risk for doing business with because of their unknown locations of offices and no submission of their annual financial statements.

The department’s director-general Ms Pongpun Gearaviriyapun said these companies were detected after the department carried out inspections of a total of 635,000 juristic persons registered with the department.

Officials found 22,992 of them in questions and they deserved special attention in doing business with, she said.

She advised businesses to be cautious in dealing business with these companies and should check through the department’s DBD E-Service application if they are good companies or not

She said companies with remarks at the end of the certifications for all juristic persons are those they needed special attention in dealing business with.

As the Bangkok Post reported, of the total 22,992 questionable companies, 7,293 were found to have no headoffices as registered, 4,054 failing to submit annual financial statements as required, and 11,293 not answering queries concerning their financial statements.

Others include direct sale network, or U fund, and 38 companies with names resembling famous companies.

The latest company detected is Tranlee Travel which was a nominee company in Phuket of which its operation license has been revoked.

Source: http://englishnews.thaipbs.or.th/department-warns-business-contacts-unreliable-23000-companies/


-- Thai PBS 2016-07-21

Only 23,000?

It gets better and better......

Just over 3% of the companies were found to be questionable...you're having a laugh...

It gets better and better......

I'm guessing many of these 'companies' also don't pay any taxes.

Also, if they have employees who earn above the tax threshold; are they deducting the personal tax, and if they are, are they sending this money to the Thai Revenue Department (Thai Tax Office)?

Also, if they collect VAT on sales they make, are they sending the VAT money to the revenue department?

23k (that figure needs a few more zeros) and what's been done about the, apart from the Chinese 'look we're doing something' case? This idiot little country truly believes itself to be up to snuff on the world stage when anyone can go and file false accounting/company filing anywhere at any time. Are they truly that bloody thick? I can't believe it's all down to corruption only. Pfft.

It gets better and better......

I'm guessing many of these 'companies' also don't pay any taxes.

Also, if they have employees who earn above the tax threshold; are they deducting the personal tax, and if they are, are they sending this money to the Thai Revenue Department (Thai Tax Office)?

Also, if they collect VAT on sales they make, are they sending the VAT money to the revenue department?

I'm guessing that a large number of them are like some companies 'a friend of mine' has - no longer operating any enterprise and just sitting dormant, because it's easier than officially winding up a company.

They failed to mention that of that total 21,291 are Thai owners the other 1 is Russian owner.

actually there are alot of thai companies that end up moving to their house.

even western companie have moved out of fancy thai office buildings to go.. "virtual office service"....

I'd rather like the 'Department of Business development' to make a list with reliable companies to go into business with...

Maybe with a five to two stars rating (they could also make some nice 'extra money' with such a list and ratings...), whatever, it would save a lot of space and paper, as I guess no 22,922 companies nationwide, when the criteria would go any further than have bank account, have office, have telephone, would qualify...

It gets better and better......

I'm guessing many of these 'companies' also don't pay any taxes.

Also, if they have employees who earn above the tax threshold; are they deducting the personal tax, and if they are, are they sending this money to the Thai Revenue Department (Thai Tax Office)?

Also, if they collect VAT on sales they make, are they sending the VAT money to the revenue department?

A 'funny' question to ask to any 'company': are you authorised to legally emit INVOICES (no, no, no, no 'bills', real invoices, with your tax registration number printed on it, et al...)? A few /1.000 'businesses' are, all the rest, well TiT...

Surely just listing these renegade companies in a public database is going to achieve (practically) nothing. Are they not able to shut their bank accounts and charge directors for malfeasance or dereliction of duty?

Just flick through the list before you do anything, yeah right.

What about the officials stopping their businesses if they are actually a problem. The fact is the officialdom doesn't know whether they are a problem or not by the sounds of it, they just haven't complied with something or other.

Typical Thai bureaucracy, don't actually do anything, just talk.

they should have a big banner on food stalls: eating here might seriously affect your health ...

...wow......so why are they allowed to continue to operate......???

Edited July 22, 20169 yr by SOTIRIOS

If they know of them why are the authorities not looking into their activities? They should not be issuing warnings they should be investigating these companies and closing them down if necessary.

Edited July 22, 20169 yr by gandalf12

Can the businesses on the list lay defamation charges against K.Pongpun?

There are more unregistered companies in Thailand than registered companies at the DBD !!!