Reporting requirements and accounting policies are decided by the Civil and Commercial Code, the Revenue Code and the Accounts Act. The accounting standards in Thailand are issued by the Institute of Certified Accountants and Auditors of Thailand.
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Read the entire post: Taxation for Foreigners Who are Working in Thailand Posted By : Gregory Smyth
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- We provide you some very essential general information and advice concerning the setting up of a company in Thailand and carrying out business there, and the working environment prevailing in Thailand.
- Thailand is a good choice to invest for your business plans, and not a bad place to live at all. It is a relatively trouble-free market economy, and comparatively flexible. Therefore almost all foreign workers in Thailand adapt well and discover it reasonable and smooth to work within.
- As per the Visa Exemption Rule, the Kingdom of Thailand allows foreigners from various nations to enter as well as stay here for a limited period of time. In other words, foreigners from countries that are covered in the exemption rule are allowed to stay in Thailand for a period of up to 30 days, for which there is no need for a visa application.
- With highly sophisticated infrastructure and free enterprise economy, Thailand - officially the Kingdom of Thailand - attracts many foreigners to set up and conduct innovative businesses.
- In Thailand, all of the laws in connection with taxation are governed by the Thai Revenue Code. The Ministry of Finance administers the procedures in connection with tax collections. The government's Revenue Department collects taxes under four main categories such as corporate income tax, value added taxes (VAT), stamp duty, and personal income tax.
