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Outstanding Tax Issues and Acquisition of Thai Companies

Transcript of the above video:

As the title of this video suggests, we are discussing tax issues in the context of acquiring or buying a Thai Company.  We are talking about someone who is looking to buy a company here in Thailand or this could be a corporate acquisition by an overseas company and you are trying to ascertain whether or not that Company has basically kept up their tax obligations. 

Now due diligence generally is always a good idea but due diligence in the context of acquiring a Company here in Thailand is a really good idea. This can be a difficult jurisdiction to understand for folks especially who have never done any business here or have not dealt with the Thai legal system or the tax system, so yeah it is possible to ascertain to a point oftentimes depending on the circumstances associated with the Company or the posture of the overall Company, it may not be possible to get an exhaustive look at exactly what is going on with respect to a Thai Company's status with respect to the tax man here in Thailand but you can get pretty darn close, as close as quite frankly it may be even possible to get with respect to understanding if there is any outstanding tax liability.

Oftentimes there may be telltale signs of further issues which may not be immediately apparent and for this reason again, it is probably a good idea to go ahead and do your due diligence thoroughly before acquiring or even making any making any deposits; making any preemptive moves with respect to the acquisition so that you are going into it with your eyes open as much as they can be.