In the event that we want to repatriate the capital back to Singapore, would there be any tax to be incurred? This is in the form of a) loan to a related party b) we close the legal entity in Thailand
Panwa: Actually we will recommend client to pay as dividend or for other option, if you are not interested to pay as dividend you may choose to transfer the funds out as some kind of expense such as Royalty fee, consulting fee or management fee to your company in overseas but by this way they have withholding tax rate at 15% (and may add VAT at 7% – have to check in detail depend on kind of expense).
For more information, please feel free to contact us:
Phone: +66 2 933 9000
Fax: +66 2 933 6120