In Thailand, tax planning is generally acknowledged to be more complex than in many others. Taking advantage of tax regulations is central to a successful tax planning strategy. We offers tailored tax planning services to meet your needs.
2. Depreciation Methods for tax benefits
Depreciation is a systematic and rational process of distributing the cost of tangible assets over the life of assets. Depreciation is a process of allocation. Cost to be allocated = acquisition cot - salvage value Allocated over the estimated useful life of assets. Allocation method should be systematic and rational.
Depreciation Methods
Depreciation methods based on time Straight line method Declining balance method Sum-of-the-years'-digits method
Section 87/3 VAT Registrant liable to tax return filing and tax payment and person liable to making reports under the provision in this Part shall keep tax invoice, report, copy of tax invoice as well as documents supporting the making of such reports or other documents as prescribed by the Director-General at the place of business which such report is made or other places as prescribed by the Director-General for at least 5 years as from the date of tax return filing or report making.
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