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ResourcesCorporate and Tax AdvisoryThailand Corporate LawThai Corporate Compliance During COVID-19 Slowdown

Thai Corporate Compliance During COVID-19 Slowdown

Transcript of the above video:

As the title of this video suggests, we are discussing Coronavirus or COVID-19 again although in this video we are not discussing it in our usual context which is either Thai or US immigration which is being most impacted by these changes or by this phenomenon.

But counter-intuitive as it might seem to the average layperson, this Coronavirus is having an impact on Corporate compliance here in Thailand most notably a lot of Corporations and businesses are needing to either cease operations or dramatically slow down their operations and cut work hours or lay off staff, cut staff and it is having ramifications. In this specific video we are talking about Corporate compliance specifically tax and accounting for a Corporation and we are going to do another video more specifics of more personal accounting and corporate accounting matters but in a personal context. In this video we are discussing and just more from a corporate context.  

In a recent article from the Bangkok Post, that is bangkokpost.com, the article is titled: Cabinet Approves 170 Billion Baht Stimulus. Quoting directly: "Corporate income tax filings extended to August, that is Por Ngor Dor 50 and September Por Ngor Dor 51. So certain Corporate income tax filings are going to have an automated extension as a result of this Coronavirus outbreak. Filing of other taxes for affected operators extended by 3 months, filing of excise tax by service businesses extended by 1month.

So clearly the Government is trying to provide some relief to companies doing business here in Thailand and one of the ways they are trying to provide relief is by extending the filing deadlines associated with Tax matters for these Corporations.

So as I said, in another video we will be talking about accounting matters in a little bit more personal context or personal especially for small business owners here in Thailand and for those who are interested in that information please stay tuned.