Managing Your Tax Risk: Tax Health Checks

The Thai Revenue Department may soon increase intensive tax audits to ensure that taxpayers are fulfilling their tax obligations in line with laws and regulations. Businesses and individuals should, therefore, undergo periodic tax health checks to limit their risks of tax liability, particularly as there are tax shortfalls, surcharges and penalties of non-compliance.

Blumenthal Richter & Sumet provides comprehensive tax health checks which:

  • Identify any risks or weaknesses on collation and reporting of information produced for the Thai Revenue Department
  • Ensure that tax treatments substantially comply with Thai tax laws and regulations
  • Mitigate non-compliance risks, tax shortfalls, surcharges, penalties and negative reputational risk
  • Provide high-level recommendations to rectify non-compliance issues to minimize potential exposures in the event of a future tax audit
  • Provide recommendations on the overall tax efficiency of the current treatments

Our key areas of focus include Corporate Income Tax, Withholding Tax, Value Added Tax (VAT), Specific Business Tax and Stamp Duty.

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