Claiming tax refunds for your company is a painful process. It can take several years without any success.
Our company in Thailand ran into this problem before. It took us over five years to claim all our tax refunds.
We had been chasing the Revenue Department for a tax refund for many years. The total refund amount was in the six digits. And it seemed like the Revenue Department didn’t want to return this amount.
Every time we called them, they gave a short answer that they were working on it. From time to time they asked for more documents. Then we had to wait for many months.
When the issue was about to finish, the officer who handled our case quit. The new officer came in and restarted the whole cycle all over again.
It happened like this for years.
In the end, we got a tax refund back. It happened when we did one simple and easy thing. We scheduled a visit to the Revenue Department. And this time, it wasn’t only with our accountant. But we brought the company owner with us.
After that, everything went smoothly. We got the refund a few months later.
The key point here is to go to the Revenue Department office with the company owner. And let him or her speak to the Revenue Department officer, instead of an accountant.
Good to Know
When asking for a tax refund, your accountant may suggest that you not do it if the amount is small.
One reason is that the accountant doesn’t want to deal with the extra work that comes with it. Another reason is that you may need to pay more for extra tax and fines.
In most cases, asking for a tax refund can lead to an inspection from the Revenue Department. They will check your tax filings. In addition to your time and effort in preparing documents and answering questions, you may end up paying extra taxes if Revenue Department officers find any mistakes.
If you plan to ask for a tax refund, tell your accountant beforehand. This way he or she can prepare the necessary documents in advance without giving you extra work when you ask for it.
If the refund amount is minimal, don’t be surprised if an accountant advises you not to do it since it might not be worth the hassle of dealing with an inspection.
Deutsch:
Français:
Español: