Tax Due Diligence
The PKF Thai Tax team helps our clients succeed by providing personalized, tailored solutions with high quality service.
We examine each client’s fundamental needs – and then go above and beyond to advise what the situation requires. We have a passion to make a difference and constantly strive to improve and strengthen the tax efficiency of our clients.
This is important as a new tax structuring landscape is rapidly forming as more and more countries adopt the OECD’s recommendations following the issue of the final BEPS reports. With changes proposed to ‘hybrid’ tax arrangements, tax treaties, and the deductibility of intercompany payments, the substance and motive of structures face increasing scrutiny. PKF’s tax professionals are experts in this area and can help your company review its existing structures, and plan new structures, to ensure they align and where needed comply with the Thai Revenue Code
Our team not only considers the angles from a local, regional, and global perspective, but also tailors the tax efficient planning with your key commercial considerations in mind. It is this attention to detail and listening to our clients that often separates PKF from its competitors.
Tax Due Diligence
When an investment in a Thai Company or business is being considered, it is often prudent for the investor to obtain a Thai tax due diligence report to identify any tax exposures lurking in the investment to be acquired. This not only provides some security to the investor, but it could also be a negotiation point to lower the acquisition price.
PKF provides a full tax due diligence service, which can be extended to cover legal and financial due diligence, if also required.
In addition, PKF can also advise a client on:
- The most Thai Tax-efficient structure to adopt for acquisition (and holding) of the investment (tax structuring);
- The different means for the Thai tax-efficient extraction of funds during the lifetime of the investment; and,
- A Thai tax-efficient exit strategy.
Tax compliance check
A Tax Compliance Check (or Compliance Tax Health Check) is a similar process to a due diligence exercise in that it reviews the tax compliance of a Company or business over a number of years (period of review) with a view to identifying any Thai tax exposures and provides suggestions for rectification.
Perhaps one slight difference between a Tax Compliance Health Check Report and a Tax Due Diligence Report is that the recommendations for corrective measures tend to be slightly more prescriptive with in a Tax Compliance Health Check Report as such detail is not usually wanted by an investor looking at a Tax Due Diligence Report.
The PKF Tax Due Diligence team (who also carry out the tax compliance health checks) is very experienced in undertaking such assignments and has dealt with many different types of ‘targets’ (companies, businesses, property) in Thailand. The team consists of qualified Thai and international professionals.
If you require any due diligence work performed or a check on whether your company is complying with its tax obligations in Thailand, please contact us.
Head of Tax Department
Philip has over 35 years’ experience in the corporate and international tax, most of which with PwC and KPMG in the UK, Africa, the Middle East, and Thailand.
Notably, Philip worked as a tax partner for KPMG, and for a time was the Head of Tax for PwC in Mauritius – roles which provided invaluable practical experience, real insight into different cultures, tax authorities, tax laws and practices, and how the different internal tax departments of KPMG and PwC operated.
- Various senior roles with UK companies including Aerospace Communication Systems, British Steel, Marconi Communications, and Coopers & Lybrand / PwC 1984 to 2002
- PwC Tanzania and PwC Zambia 2002 to 2005
- Tax Director with KPMG Thailand 2005 to 2008
- Head of Tax, PwC, Mauritius 2008 to 2010
- Tax Director/Partner KPMG, Oman, Middle East 2010 to 2013
- Head of Tax and Legal Support, PKF International 2013 to 2018
- Various roles dealing with international corporate tax matters, PKF 2018 to 2020
- Partner, PKF Thailand 2021
- Banking and financial services
- Power, water and utilities
- Retail and consumer goods
- Service industries
- Travel, tourism and hospitality
- Chartered Accountant (Fellow, ACCA, UK)
- Chartered Tax Adviser (Associate, Chartered Institute of Taxation, UK)
- Associate Member of the Association of Accounting Technicians
- KPMG Tax and Legal
- Deloitte Touche Tohmatsu Jaiyos
- KPMG Peat Marwick Suthee
- SGVN Legal and Tax Consultants
- Finance and Banking
- Service business
- MBA Yonok College
- LLM Chulalongkorn University
- LLB Chulalongkorn University
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