Panwa Accounting and Auditing - Thailand ,
Thailand offers great opportunities for both Thai and foreign investors. The Board of Investment (BOI), Thailands governing body to promote investments, helps investors in three key ways: to reduce the risks associated with investment; to reduce initial investment costs and to improve the overall rate of return on investment; and to provide support services at all times.
Below is our summarized information relate to BOI knowledge that Panwa provides to our clients;
- Guide line and knowledge before apply BOI privileges.
A. Policies and Criteria
A1. List of Activities Eligible for Promotion (information as of December 2007)
Section 1: Agriculture and Agricultural Products
A2. Criteria for BOI project approval.
A3. Procedures for application of BOI Approval
B. The Rights and Privileges from the BOI
B1. The Related Tax and Non Tax Rights and Privileges
The Rights and Privileges Related to Tax
B2. Criteria of Using The Rights and Privileges:
Specific Project Guidelines:
- Criteria for Shareholders
- Location or factory zone
- ISO Condition
B3 Start - End of Rights and Privileges
C. Main points of BOI card
Remark Tips of BOI
Audit Program on Compliance with the Condition of Promotion Certificate (Issued by the Office of Board of Investment Committee)
Objectives of the Audit Program
1) To have actual investment in machinery of each Promotion Certificate as approved by the Board of Investment
2) To have quantity of production and sales in compliance with the condition of each Promotion Certificate
Auditor Report on Compaliance with the Condition of BOI Promotion Certificate
Auditor Report on Compliance
To Board of Directors
We have audited the information in the application form for Enjoying Corporate Income Tax Exemption of the entity under BOI promotion related to investment value on increase in machinery, quantity of production and quantity and value of sales used for enjoying corporate income tax exemption of .. for the period ending This audit has been conducted in accordance with the agreed-upon procedures as prescribed by the Office of the Board of Investment as attached herewith.
We have conducted the audit in accordance with the auditing standards related to the agreed-upon procedures. The purpose of such procedures is to assist the Office of the Board of Investment in approval of application form for Enjoying Corporate Income Tax Exemption.
We would like to report the fact found from our audit as follows:
Investment in Machinery
Quantity of Production
6. Refer to Audit Program item 3.2, we found that actual annual quantity of production
Quantity and Value of Sales
Since the above audit was not conducted in accordance with the Generally Accepted Auditing Standards, we are not able to provide assurance to the information in application form for Enjoying Corporate Income Tax Exemption for the period from . to ..
Had we been able to perform further procedures or audit the financial statements in accordance with the Generally Accepted Auditing Standards, we might have found other matter to be presented in this report.
This report was prepared for the objective as mentioned in the first paragraph and for use as your information, and was not prepared for other objective or disclosed to other party.
This report was concerned with the above-mentioned aspects, and not extended to the financial statements of ..
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