We are subsidiary company in Thailand of our parent company in Malaysia. We do business of beverage trading, and we are experiencing more losses this year due to the consumer trend is changing. So, our parent company give us the subsidy amount of USD 0.1 million (it is without any conditions or obligations). Do we need to file VAT of this amount as income?
Panwa: The company do not need to file VAT from this subvention money, but this money must be recognized as income and must be used for income tax calculation.
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