Would Your Company like to create Capital for Tax (Bangkok)
Most Companies in Thailand who pay huge amounts of tax and their employees are walking past enormous amounts of capital and wealth - simply because they are not taking advantage of investing in the Government Approved Provident Funds program.
It is 100% legal and encouraged by the Government for both Employers and Employees to save huge wads of tax by putting up to 30% of wages in to a Provident Fund - which workers get to put towards their retirement (or take out earlier to spend or invest); and Companies can shelter their income from tax in a tax exempt investment vehicle for up to 10 years.
Even for just a 5 year program Companies can utilize the Provident Plan to reduce wage costs by 20% per annum, have available cash to fund severance pay claims, to use as working capital, or for their own investment projects.
Why are executives, ordinary workers and their Employers flushing money down the drain instead of holding on to a lot more of the incomes they are earning?