As a taxpayer in Thailand, there are certain duties to be complied as follows:-
- To register for tax identification number (in case of a foreigner) and must also inform the Revenue Department officers of any changes in his personal details. For Thai nationals, their Thai identification number serves as their tax identification number
- Submit the tax returns and pay proper tax to the Revenue Department
- Provide relevant documents and accounts as the law requires. This includes receipt, profit and loss statement, balance sheet, special account, etc.
- Cooperate and assist the Revenue Department officers and provide additional documents or information when required as well as comply with the summon
- Pay tax as assessed by the Revenue Department officers on time. In case a taxpayer fails to pay a complete sum, the assessment officer has the right to seize, attach and sell that asset by auction even without a court decision. Cash raised from the transaction will be used to pay off tax arrears.
Any taxpayer who does not comply with the law will face civil and criminal action. Hence, it’s highly advisable to contact Thai tax experts like MSNA to consult about filing your taxes in Thailand.