(Before It's News)
1888PressRelease – That time of year is fast approaching again, and BSA Law reminds people that Personal Income Tax returns must be filed with the Revenue Department by the usual 31 March deadline.
This includes foreigners employed in the kingdom under a Thailand work permit, who are required by Thai law to file a return the same as their Thai colleagues are.
For those taxpayers who prefer to have a professional accounting company or lawyer handle the filing of their return, rather than do it themselves, BSA Law offers such a service.
“Filing your income taxes can be seen as a confusing and somewhat daunting annual exercise and it is probably fair to say that it is a long way from the top of many a taxpayer’s list of favourite tasks”, noted a spokesman from BSA Law.
“Here at BSA Law tax consulting and accounting services, including the filing of Personal Income Tax, are among our areas of expertise.”
With this year’s income tax return, Thais will be able to incorporate tax breaks offered by the government through its various tax incentive measures of 2016.
This included two such measures in December 2016 – one for spending made on domestic tourism and the other for spending on shopping and services. Each measure allowed for spending of up to Bt15,000 to be deducted from a person’s taxable income.
The tax break on domestic tourism applied to spending made throughout the entire month of 1 to 31 December, while the tax break on shopping and services was applicable to spending made between 14 and 31 December. Spending on liquor, beer, tobacco, fuel oil and gas for vehicles and vessels was not eligible for the shopping tax break.
A similar tax incentive scheme was also used earlier in 2016 for the traditional Thai New Year Songkran festival in mid April 2016, for spending on dining and domestic travel.
Tax receipts from any spending that was applicable to these tax breaks must have been kept, as they need to be included with a person’s 2017 return.
As a leading international law firm in Thailand offering a range of legal and financial services, BSA Law’s other areas of expertise include Thai labour law, Thai law in general, corporate law, contracts, property, intellectual property, insurance, investment, auditing and how to go about starting a business in Thailand. A dedicated Thai visa service desk is also available, which handles all matters relating to Thailand work permit and visa matters.
About BSA Law:
For over 30 years, Bamrung Suvicha Apisakdi Law Associates (BSA Law) has focused on providing reliable legal advice and services to the Thai and foreign business community in Thailand. BSA Law seeks to provide international standards of legal services while retaining the customs of the Thai business culture.
For more information please contact:
Business Advisor, BSA Law.
Email: jim ( @ ) bsalaw dot co dot th