The tax agent, or the fiscal representative in Thailand, is an individual appointed by a company to represent it in front of the Thai tax authorities, the Revenue Department. His main role is to assist taxpayers in meeting their obligations, therefore the use of a fiscal representative is an important one.
Our Thai company formation agents assist investors and company owners who wish to appoint a tax agent. Upon request, we will provide you with this service as soon as the company is incorporated, or for an already existing Thai company.
Read below to find out more about the duties of the fiscal representative in Thailand, as well as the criteria for appointing a legal or natural person for this role. If you would first like to know more about the steps for Thailand company formation, our team will answer your questions.
| Quick Facts | |
|---|---|
| Who can be a fiscal representative in Thailand | Licensed natural or legal persons in Thailand |
| Fiscal representative services offered by our team | Complete solutions for representing taxpayers in front of Thai authorities. |
| Usual services offered by a fiscal representative in Thailand | Can act on the behalf of the client on all matters related to taxes in Thailand. |
| Fiscal representative duties in terms of tax returns | Prepares the annual tax returns and files them in due time. |
| Tax agent duties in terms of tax payments | The representative also makes the required tax payments with the Thai authorities. |
| Fiscal representative ability to make changes to the company’s tax data | Updates key information on the company and/or its fiscal data as required by law. |
| Special training courses requirements (Yes/No) | Yes |
| Minimum experience in accounting for Thai tax agents | 5 years |
| Must hold a tax agent license (Yes/No) | Yes |
| Agency that issues the license for a tax agent in Thailand | The Revenue Department |
| Fiscal representative agent license validity | Usually 2 years |
| Special agreement between the fiscal representative and the client | Yes, under a special appointment notified to the authorities. |
| Possibility to use more than one fiscal representative in Thailand | No, only one agent can be used per client |
| Special conditions for the acting fiscal representative | The tax agent cannot, at the same time, also act as a financial auditor for the same taxpayer. |
| Compliance requirements for fiscal representatives in Thailand | Mandatory. Tax agents must have good compliance history. |
Table of Contents
The duties of the Thai tax agent
The tax agent has an essential role in assisting companies with meeting their tax filing and payment obligations. The following fall under the attributions of a fiscal representative in Thailand:
- Fill in the tax returns;
- File the tax returns with the authorities, within the prescribed time periods;
- Pay the tax, as applicable, or recover any amounts (as may be the case from time to time);
- Perform other tax-related duties, including communicating with the Thai Revenue Department.
Please keep in mind that the list above is not an exhaustive one. The role of the tax agent is a complex one and one that is valuable for many businesses. By making sure that the tax filing obligations are being observed, the business owners may focus their attention on the important task of growing their business in Thailand.
The fiscal agent may be appointed during the process of company registration in Thailand. Alternatively, changing the agent is possible by following a standard appointment process with which our team can assist.
Applicable criteria for the tax agent in Thailand
The tax agent can be a natural person (an individual) or a legal person (a company that offers these types of services). The following list of criteria is mandatory for those who wish to occupy this position:
- Must be a bookkeeper according to the relevant laws; must have the relevant training courses for this purpose;
- Must have at least 5 years of experience in accounting; our partner accountants in Thailand qualify for this purpose;
- Acts as the tax agent for 30 or more taxpayers;
- Has a proven compliance history and it is not suspended;
- He must have a recent financial statement proving that his net assets exceed the net liability (this criteria applies to individuals who obtain this license).
As understood from the criteria above, a fiscal representative in Thailand is a licensed natural or legal person, having been issued a proper license for this purpose by the Revenue Department. The holder of the license is responsible for continuing to meet the requirements and the criteria, as well as applying for the tax agent license renewal, as needed every two years.
Companies choosing to work with a tax agent will need to sign an agreement with the agent, as well as formally appoint him (or the company acting as agent) in relation to the Thai tax authorities.
Companies that choose to work with our fiscal representative in Thailand benefit from its experience, as well as the ongoing compliance with the laws applicable to tax agents.
If you would like to know more about the general requirements applicable to local and foreign investors who open a company in Thailand, our experienced team can answer your questions.
Contact us for more information about the services provided by our fiscal representative in Thailand.