Company without operation should pay tax?

[afzal]

Hello,

I started a company in November 2016, after that i never paid any taxes, should i pay any taxes ?

currently company not yet started business.

 

Thank you for help

[Norrad]

You need to submit an income statement, but because you haven't been doing business there won't be tax.

[BigFun]

19 hours ago, Norrad said:

You need to submit an income statement, but because you haven't been doing business there won't be tax.

Exactly, you must file end of year financial reporting before the end of May. You must pay for this but there will be no tax as there will be no taxable profit.

[timewilltell]

They will try to tackle you anyway. The place is uncontrolled by laws if you are a foreigner except for the ones they dream up to take your money.  Good luck.

[thundercatbob]

Similar situation to you 2-3 years ago, my company opened but only investing/spending not earning. Had to file monthly expenses and do a tax return, which for year 1 showed 800k loss (accounting for purpose of Revenue dept.

One thing that then tripped me up almost right after, renewal 2nd year of the foriegn work permit was only given 6 months, (although visa was still 12, would also be invalidated if I failed in the next 6 months to show the company had revenue. I was basically told the company no revenue = not real company. Fortunetely, for me ... the following 6 months the company did make revenue so after that no problem. Just something to keep in mind. Make sure you pay taxes to the revenue department, or they won't believe you are running a real company!

[stevenl]

1 hour ago, timewilltell said:

They will try to tackle you anyway. The place is uncontrolled by laws if you are a foreigner except for the ones they dream up to take your money.  Good luck.

Same old nonsense again.

[khunPer]

You need an accountant service to make an audited annual statement and file for tax. If your company has no activities nor profit, you shall not pay tax – but you still need to file the annual statement – but don't expect that shall continue for long time; your accountant will make your annual statement with a profit and some small tax need to be paid, to avoid authorities get suspicious. Accountant and annual audit will cost you in the area of 30,000 baht and up.

[Gulfsailor]

On 2/11/2017 at 7:39 PM, khunPer said:

You need an accountant service to make an audited annual statement and file for tax. If your company has no activities nor profit, you shall not pay tax – but you still need to file the annual statement – but don't expect that shall continue for long time; your accountant will make your annual statement with a profit and some small tax need to be paid, to avoid authorities get suspicious. Accountant and annual audit will cost you in the area of 30,000 baht and up.

Company I work for has been running at a loss for the past 8 years straight. So far no problem in getting WP and extension of stay. Just make sure the accountant and auditor are officially registered as such, and even if the RD do check, if books are in order, then all is well. There is no need to create an artificial profit. 

Exception is of course when there is no or hardly any revenue. But just running a legit company at a loss is just fine. (Not for the owners, but that's their problem)