Business types of pharmacy and tax responsibility

08/01/2020
          Pharmacy can be established as sole proprietorship which is an individual legal entity and partnership or corporation which is a juristic person. Each business type has different accounting duty and tax responsibility as follows
  1. Individual legal entity: there is no duty to keep accounts according to the Accounting Act, B.E. 2543 (2000) while such entity has subjected to personal income tax.
  2. Juristic person: there is duty to keep accounts according to the Accounting Act, B.E. 2543 (2000) and such entity has subjected to corporate income tax.

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