Joint Venture in Thailand – Tax Structure

Joint Venture is liable to taxes as juristic person under as juristic person under Section 39 of the Revenue Code with responsibilities below:

1. To apply for Tax ID Card by using Lor.Por.10.3 Form within 60 days from setting up.

2. In case of having income which is subject to VAT or Special Business Tax (SBT),

• To apply to be operator under VAT or SBT, as the case may be, by using the application form of Por.Por.01 and Por.Tor.01.
• To file monthly VAT or Por.Tor.40 (SBT) within 15 days of the following month.

3. Withholding tax shall be deducted when Joint Venture pay some category of expenses to the recipient (individuals and corporations) and shall be submitted by using PND.1, PND.2, PND.3, PND.53 and PND.54 as the case may be, within 7 days of the following month.

4. Joint Venture shall file tax return and pay corporate income tax twice a year as below:

• PND.51 shall be filed within 2 months from the last day of the first six months of an accounting period.
• PND.50 shall be filed within 150 days from the end of an accounting period. Tax return shall also be filed together with audited financial statement and also endorsed by auditor on the last page of annual tax return.

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