Publications
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As a part of our corporate social responsibility commitment DUENSING KIPPEN provides regular legal column contributions to numerous international, national and local hard and soft copy publications including: our regular legal column in The Phuket News newspaper, Mondaq, the Danish - Thai Trade News, Tropical Living magazine, Director magazine, Exotiq magazine, Samui - Phangan Real Estate magazine, The Pattaya Mail newspaper, Samui Express newspaper, Chiang Mai Mail newspaper and many others. We also make these publications available here below.
What to know and do about bad debts in Thailand – Part II
In Part I of this two part article we noted the importance for your company to comply with the legal requirements to “write‐off” uncollectable or “Bad Debts” so that your company would not be required to pay income tax on these uncollected monies. And we saw that under Section 65 of the Thailand Revenue Code (“RC“) and Ministry of Finance regulation No. 186 (1991) (“MR”) in order for Bad Debts to be written‐off they generally my have (1) arisen from your company’s business and (2) it must not be too late to file a court action to collect them.
Your off‐shore entity’s rental income tax
The use of off‐shore entities, such as a company incorporated in the British Virgin Islands (“BVI”) to own real estate is not uncommon in Thailand. One reason often cited by investors using such entities organized under foreign law for such purpose is that they believe it will result in significant tax savings.