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Taxation services

Taxation is a system of raising money to support the government on financial matters. All governments require payments of taxes from people or any legal entity. These taxes are used by government to pay public employees, to build government infrastructures, public schools and hospitals, to provide food and medical care to the poor and elderly, and for other government purposes. It is true that tax is very important because without these taxes to support its activities, a government could not exist.

Taxation is the main source of government's revenue. A large part of tax collection comes from three main agencies under the Ministry of Finance. These are the Revenue Department, the Excise Department, and the Customs Department - which collectively account for about 85-90% of the government's revenue. The Revenue Department itself collects more than half of the total tax collection. Aside from collecting taxes, the Revenue Department is also responsible for ensuring that the administration of the tax collection is carried out in accordance with the government's policies.

Thailand has many kinds of business identities. The tax rates and tax benefits of an individual or entity are affected by the type of its business. In general, the most common types of businesses here are Thai company and Foreign Company. Thai company is a company registered under Thai law. A foreign company can be a company carrying on business here in Thailand but registered under foreign law or a company not carrying on business in Thailand but deriving income from here.

Panwa Group provides taxation services for both foreign and local clients who need someone that have specialization, expertise, knowledge and innovative ideas in the complexity of taxation here in Thailand. From business analysis, we will be able to help client understand all the tax concern and guide them on the way on how can they save tax by tax planning by assisting them to minimize their tax liabilities.

You are in good hands when you put your trust on our professional and licensed accountants and auditors with a wealth of specialization and expertise. Our complete taxation services covers Personal income tax, Corporate Income tax, VAT, Withholding Tax, and Specific Business Tax (SBT).

An overview of Tax in the Kingdom of Thailand:
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