Transcript of the above video: 

For those who are unaware, those who have corporations in Thailand, if you are foreigner you can set up a company here in Thailand either through a 49/51 set up with a Thai partner. There are also benefits available to American citizens under the US-Thai Treaty of Amity; there are also concessions where foreign ownership can be 100% of a given corporation here in Thailand pursuant to the Board of Investment. There are also concessions possible under the Eastern Economic Corridor in Thailand, with regard to the Eastern Economic Corridor sector and businesses specifically pertaining thereto. Long story short, there are many ways to set up a company here in Thailand and certain companies that meet a certain threshold of Revenue are going to need to file for VAT. They're going to have to have a VAT Certificate and they are going to have to make periodic VAT filings, monthly specifically. 

Now understand, the vast majority of companies that are going to have a foreigner attached to them are going to have to have a VAT Certificate. And the primary reason for that is most of the time, in most involving Business Visa application or Business Visa Extension, or Work Permits for that matter, you are going to need to show documentation showing that VAT Certification has been achieved. Whether or not you actually meet the threshold Revenue wise, you still need to go ahead oftentimes and get that VAT Certificate. Again, depending on the underlying facts in the given case there are some exceptions to this overall sort of rule of thumb, but in the vast majority of cases that we deal with, yeah, that's just how it's going to be; you have got to deal with getting your VAT Certificate.

Now the thing to take away from this video is monthly - on a monthly basis - you have to actually file corporate VAT filings. Now doing the filings can be a little bit complex, for example there may be VAT credits that one can obtain depending on the purchases that the corporation made throughout the given year, and those VAT credits can offset any VAT owed. Compiling a VAT filing can be a bit of a complex enterprise on a monthly basis and there are many, many clients of our firm have us - we have an accounting division - have us assist in VAT filings regularly and we find that we can be of a great deal of assistance.

Now VAT filings are especially important especially for foreign nationals here in Thailand as they are integral to ongoing extensions of both Business Visa and Work Permit status. That being said, those who feel a bit overwhelmed by Thai Corporate Tax matters, it may not be a terrible idea to contact a legal professional, gain some insight and guidance into how best to proceed.