Why Accounting is important for your work-permit

After you have a work permit you have to register for Monthly income tax, when your work permit needs to be renewed that time you have to show it to the Labor Department Audit. However if the company is registered less than one year there is no need to show it to the officer at the Labor Department.

Thailand’s Tax audit survival guide

If you open up your new business, you can be sure that the tax officer will visit you soon to understand your business and advise how to comply with the tax laws. The questions will be regarding basic information of your business, for example type of business, VAT registration number, major income and expenses, date of your establishment and the result of your business in previous year.

Then they want to see the following documents:

• a) Receipt and copy of tax return you’ve filed
  • - Withholding tax (PND. 1/3/53)
  • - VAT ( pp.30)
• b) Receiving and payment voucher ( 1-3 month)
• c) Sales and purchase tax invoices
• d) Bank statement

In an audit, you must convince the IRS that you reported all of your income and were entitled to all credits, deductions, and exemptions.