Baker Tilly Tax and Consulting Services

Baker Tilly Tax assists clients mitigate their tax risks in Thailand with international and local knowledge. It starts with good tax planning to ensure that transactional risks are identified and reduced and comply with international and local tax. For multinational companies, these transactions are referred to as cross-border transactions and include such areas such as:

• Withholding tax 
• Value added tax
• Transfer pricing
• Advanced Pricing Arrangement (APA) and
• Double Taxation Agreements. 

 

We also provide assistance on tax compliance such as:

• Corporate tax returns
• Monthly VAT (value added tax) and withholding tax returns,
• Personal income tax for expatriates
• Special business tax and
• Stamp duty.  

Additionally, our tax professionals are trained to help prepare tax registrations, applications for withholding tax certification from the authority to apply as tax credit against foreign tax in DTA country and applications for Regional Operating Headquarters (ROH).

 

We can assist clients seeking answers on domestic tax matters and legislation's, such as drafting taxpayer objections, appeals and request for tax rulings. We are also well equipped to represent clients in Thai Revenue Department audits and seek refunds for overpaid value added tax and withholding tax.

Tax planning and consulting involves having a good understanding of international tax, particularly the Double Tax Agreements (DTA) between Thailand and a number of countries, and local tax. Equipped with tax knowledge, our tax professionals can supply clients with tax structures to support their proposed transactions. Tax structures can allow companies reduce their tax exposure.

Multinational companies require cross border transactions, particularly between affiliates. These transactions are subject to tax reviews, such as transfer pricing, and must comply with local Thai tax rules, despite the DTA. While there are no specific Thai tax laws on transfer pricing, the Revenue Officer is empowered to assess additional tax on the transaction if the transaction is deemed to be below market value. With our understanding of Thai tax rules, we can assist companies with their cross border transactions.

International companies doing business in Thailand, but have no formal presence in the country, may be subject to Thai tax as a legal juristic entity. These companies need to ensure that their Thai transactions are not deemed "to have permanent establishment", which attracts Thai tax. We can assist companies with their transactions in Thailand and mitigate their risks of being taxed.
 

Our structured tax provides tax structures for Thai and foreign companies wishing to enter into joint ventures in Thailand. Our professional service assists you in decision-making to which the legal structure through your business is owned and operated is the optimum structure in your situation and worth with respect to costs and benefits.

We also provide assistance on structured tax in terms of:

• Providing implementations on tax effective structuring options
• Minimizing capital gains and income tax cost through appropriate tax planning
• Minimizing capital gain tax cost for the potential future sale
• Maximizing asset protection for owners and valuable business assets
• Incorporating exit plans into business structure planning
• Advising on stamp duty implications

 

Our tax due diligence teams provides a wealth of transaction tax experience and independent and objective accounting due diligence to help clients make informed purchasing and sale decisions. In doing so, we analyze historical tax returns and financial statements to highlight tax issues and risks and opportunities associated with a contemplated transaction. We work closely with our clients and their legal advisors to develop a tax efficient deal structure.

Our Tax Due Diligence services include:

• Perform tax due diligence for merger and acquisition or business reorganization
• Highlight potential tax issues and risks and provide our recommendations for resolving tax problems, where any
• Assist in structuring transactions in a tax-efficient manner
• Provide support/compliance for tax needs, when require.

 

We offer business support services such as:

• Company registrations
• Foreign Business License
• Doing business under Treaty of Amity
• Establishment of Branch Office and Representative Office
• Company secretarial
• Work permits and visa

We have trained professionals who can advice on corporate and labor law matters.  We also assist clients gain access to Thai investment promotion programs and other investment and industrial incentives under BOI (Board of Investment). 

Our services include full outsourced bookkeeping and monthly tax compliance services, including preparation of monthly withholding tax and value added tax returns. We maintain accounts for clients, perform data entry, review tax invoices and accounting records and provide monthly management accounts. Using the information provided to us on a monthly basis, we can prepare the necessary monthly tax fillings for submissions.

We can also function as the client's accountant. This is where clients call on us for information on a regular basis. We can assist clients for the preparation of documents for submission to the officials and represent clients at the Revenue Department.

We work close with our tax department to ensure that we are current with tax requirements. They are assessable for tax questions.  

Project Accounting

Project accounting is specifically for real estate and hospitality projects with multiple special purpose vehicles. In addition to bookkeeping services, we can assist the client prepare the following monthly reports:

• Consolidation or combining statements
• Statement of cash flows
• Schedule of construction in progress, comparing actual with budgets and committed amounts
• Schedule of investments - shareholder loans and accrued interest
• Analysis of significant changes between reporting periods

 

Bayani Lauraya

bayani@bakertillythailand.co.th