Our company wish to sell and transfer ownership of Company’s car “Passenger car” to the director, please advise the matter as below.

1                 Transfer price. Net Book Value Price is accepted by Thai Tax Rules.

Panwa: The transfer price should consider the condition of assets as at the date of transferring but it should not be less than the Market price or NBV as at such date. 

2                 VAT and other tax related

Panwa: The company is subject to submit the sales VAT for selling the car and the tax base shall be considered by the transfer price from the item 1. There is no other tax in accordance to the Revenue Code.