How to fill out Thailand BOI application – Part 6 of 7

This is part 6 of the post series How to fill out Thailand BOI application for software (activity 5.7) or E-commerce (Activity 5.8). For part 5, read: How to fill out Thailand BOI application part 5 of 7.

Section 7 in the application is where you will fill out the estimated revenues and expenses of your Thailand BOI project for the first 3 years of operation. Don’t forget the unit is in Thousands of Baht.

Revenue: List the estimated income from each of your planned software/product (as you described in section 5.1 of Thailand BOI application form.

Expenses: Make sure the amount of each expense is only for the planned BOI project.

Salaries and wages: You should have a worksheet showing how you came up with the total amount of Thai personnel and foreign personnel’s salaries and wages.

Rent: This is your monthly rent times 12.

Interest charges: If you mentioned a loan in section 2.1 of the BOI application, you may have interest charges to fill out here.

Depreciation costs: This should come from the amounts you will invest in the computers, equipment and software from section 5.6 and 5.7 combined divided by 5 years.

Technical fees and royalties: This should be the annual license fees you have to pay to use any software or hosting platforms. The cost of software that you pay a one-time fee for is not part of this. It should go into section 5.7 which will be depreciated over 5 years.

Other expenses: This is the total amount of all other expenses, such as advertising, marketing, stationery, travelling, entertainment, etc. You should have a worksheet detailing what comprise your other expenses.

This section is very useful because you will see what your estimated incomes and expenses are and thus your profits or losses from the first three year of operation.

Tomorrow we will talk about How to fill out Thailand BOI application – part 7.

Consult ThaiLawyers to learn about Thailand BOI process and benefits.