Tax Planning in Thailand | Thailand Tax Planning Strategy | Thailand Tax Planning Services @ Healy Consultants

Tax Planning in Thailand

Tax planning in Thailand is generally acknowledged to be more complex than in many other jurisdictions. Taking advantage of Thailand's tax regulations is central to a successful Thailand tax planning strategy. Healy Consultants offers tailored Thailand tax planning services to meet your needs. The following information may be useful in relation to tax planning in Thailand.
1.	When tax planning in Thailand, Thailand's Board of Investment (BoI) offers both tax and non-tax incentives.
2.	When drawing up a Thailand tax planning strategy, an exemption period of between 3 to 8 years may be granted to promoted businesses under the Investment Promotion Act.
3.	When tax planning in Thailand, dividends, fees for goodwill, copyright or other rights received from the promoted businesses may also be exempt from income tax in the hands of the recipient.
4.	When considering a Thailand tax planning strategy, tax incentives include exemption or reduction of import duties on machinery and raw materials and corporate income tax relief and exemptions.
5.	When tax planning in Thailand, non-tax incentives include no foreign equity restrictions in the manufacturing sector; no local content requirements; permission to own land; and ability to repatriate foreign currency from Thailand.
6.	When tax planning in Thailand, note that a foreign company operating in Thailand is subject to corporate income tax on net profit arising from or in consequence of business carried on in Thailand.
7.	When undertaking any tax planning in Thailand, it is important to note that resident companies are taxed on worldwide income and capital gains.
Healy Consultants' tax experts deliver a comprehensive Thailand tax planning strategy to our clients. When tax planning in Thailand, the following should be addressed:
1.	Whether the Thai company can receive foreign-sourced income without being subject to local corporation tax. Healy Consultants Thailand tax planning services are geared to providing such information around which to base a Thailand tax planning strategy. The current corporate tax rate on income derived in Thailand is 26% on assessable profits.
2.	Whether there any tax exemptions or tax incentives available in Thailand. A successful Thailand tax planning strategy should identify both tax exemptions and restrictions. For example, an exemption period of between three to eight years may be granted to promoted businesses under the Investment Promotion Act. Additionally, dividends, fees for goodwill, copyright or other rights received from the promoted businesses may also be exempt from income tax in the hands of the recipient.
3.	Whether the company has to register for value added tax (VAT) or goods and sales tax (GST)? In accordance with GST Law, a Thai company is required to register for GST and pay 21% in VAT on goods and services rendered in Thailand.
4.	To be able to draw up the optimum Thailand tax planning strategy for our clients, it is important Healy Consultants has a good understanding of your business and we know your objectives. In this respect, we encourage clients to discuss via phone the different Thailand tax planning services available.
Healy Consultants offers a range of Thailand tax planning services which are tailored to meet the precise needs of clients tax planning in Thailand. Unlike many corporate services providers, we take a global approach to our Thailand tax planning services, thinking 'outside the box' to provide a creative solution which fits your tax planning in Thailand needs. Our international tax professionals provide the best Thailand tax planning strategy to organisations of all sizes. Our Thailand tax planning services include but are not limited to:
1.	Thailand company formation is one of Healy Consultants' core Thailand tax planning services. A properly structured company is a legitimate corporate vehicle through which regional and international business can be conducted.
2.	Trusts and foundations - another effective Thailand tax planning strategy, international trusts and foundations are ideal for some entrepreneurs and high net worth investors.
3.	Thailand corporate bank accounts - offering a reputable, reliable Thai or international corporate bank account is a fundamental part of Healy Consultants' Thailand tax planning services portfolio. We can assist you to open a Thai or international corporate bank account with leading international banks in the jurisdiction of your choice, with tax advantages in mind. Healy Consultants works with internationally recognised banks such as HSBC, Standard Chartered and Citibank to provide corporate bank account services.
4.	Mergers and Acquisitions (M&A) - some clients approach us for assistance with their merger and acquisition plans. Our Thailand tax planning services include providing invaluable advice on drawing up an M&A roadmap and developing a tax-efficient structure going forward.
5.	International tax legislation - at the heart of any successful tax minimisation strategy is the need to keep abreast of international tax legislation. A key aspect of Healy Consultants' Thailand tax planning services lies in keeping our clients informed of regulatory changes before they can have any negative impact.
6.	Double Taxation Treaties - Thailand has signed double taxation agreements with 52 countries. Making our clients aware of the availability of tax relief tools such as this is part of our Thailand tax planning services.
7.	Thailand corporate and personal income tax advice - Healy Consultants can advise on the latest corporate and personal income tax rates in Thailand as part our Thailand tax planning services. As well as assist our client to prepare and submit Thai corporation tax computations and Thai tax returns to the relevant tax authorities, including the Thailand Revenue Department (RD).
8.	GST registration - Healy Consultants offers this Thailand tax planning service to all of our clients.
Additional information on Thailand

Contact Us
For more information on tax planning in Thailand, email email@healyconsultants.com or telephone us at (+65) 6735 0120.
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