The company has loan from foreign companies which it agree to return only the principal first. The interest will be paid later by notifying at Bank of Thailand. Will the tax be withheld and remitted from the principal paid?
Panwa : If there is evidence of money transfer that the company has notified to Bank of Thailand which states that the payment out to the lender (foreign) is the total principal payment without paying interest under Section 40 (4)(a) of the Revenue Code, the paying company is therefore not obligated to withhold tax under Section 70 of the Revenue Code in any way.
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