start business What business tax should you know❓

start business What business tax should you know❓

For starters Tax is another thing that is troubling to do business. Because there is a hassle of tax is difficult enough. Today we will tell you that starting a business. What business tax should you know? Let's go see...

👉🏻 for that tax There are two misconceptions:

1. Most business owners tend to find out that Why do we pay taxes? which once again emphasizes that The meaning of the tax is What the state charges the people without compensation So you don't have to look for an answer. because what we have paid has no return

2. Taxes are difficult. So we should hire someone else to do it. which is the correct understanding But one of the more important issues is that business owners need to know about taxes that are essential to their business. Because it is part of our responsibility.

First of all, let's get to know what's called. business model first What our business is between natural persons or juristic persons, starting with “natural persons” first. For natural persons, it consists of 3 types: sole proprietorship. An ordinary partnership and a body of people are different as follows:

- single owner

The word sole proprietor means doing business with oneself. When a profit or loss will affect us alone. The advantage is that it is simple and uncomplicated.

- Ordinary Partnership

An ordinary partnership will consist of two or more people who invest and operate together with the purpose of sharing profits from business and taking responsibility for joint liabilities. Unregistered ordinary partnerships will be considered a natural person

- Individuals

Originally, a body of persons was similar to an ordinary partnership, but differed in that it had no purpose for sharing the profits it earned together. And it was redefined at the end of 2014 that a group of persons means two or more persons agreeing to act with mutual assessable income which is not an ordinary partnership.

👉 direct tax

Direct taxes are taxes that are charged directly to us and cannot be passed on to others, such as personal income tax and corporate income tax.

- personal income tax

will be stored at a progressive rate. is a calendar year From January 1st to December 31st of every year, those who earn from an individual business model have a duty to pay taxes at the same time

- corporate income tax

will be stored at a fixed rate. And there is a tax reduction for small and medium-sized businesses with a paid-up capital of not more than 5 million baht and income of not more than 30 million.

👉 Indirect taxes

Indirect taxes are taxes that we can pass the tax burden on consumers, such as VAT. specific business tax and stamp duty There are different collection principles, for example VAT is charged on businesses that sell products and provide services. Specific business taxes are levied on specific entities such as banks or securities. Stamp duty will be collected from the contract.

- VAT

Tax collected on the added value from business people selling products or providing services of various types Those who are liable for VAT are entrepreneurs and importers, including manufacturers. Service providers, wholesalers, retailers, exporters, importers who have annual income of 1,800,000 baht or more, whether they are natural persons or juristic persons.

- Specific Business Tax

It is another type of tax under the Revenue Code. collected from a specific business operation instead of the repealed trade tax, such as a commercial banking business, a pawnshop, or the sale of real estate and file a tax return named Phor.Thor. 40 and in the general case of business When a property is sold or a loan is made, it is taxed at a rate of 3.3% (including local tax rates).

- Stamp duty

It is another type of tax under the Revenue Code. but will be charged when there are 28 types of inter-company instruments as specified in the stamp duty rate account. The strikethrough will be used to represent the use of the stamp. which the person who can strike out must be in accordance with the provisions of the Revenue Code.

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