Post
by GMJS-440 » Thu Jun 14, 2018 11:06 pm
It is a terrible idea to open a company to use solely/mostly for the purpose of getting/maintaining a visa.
Firstly is the monthly tax compliance. you need to file monthly tax returns:
Tax on Salary & Fringe Benefit tax
Prepayment of Tax on Profit
Withholding tax
VAT
Annual compliance, patent tax and tax on profit (minimum tax) return requirements as well. Business license every 3 years.
The tax department really got on after foreigners not being paid enough in Cambodia as a means to evade taxes (We will pay you outside the Company and give you an extremely low salary in the Cambodia company), the tax man started deeming wages and calculating taxes off of the wage figure they came up with. Good luck appealing that without some expensive firm helping you.
And closing the company subjects you to the closing audit.
Technically I suppose it can be done, but why deal with the hassle and risk involved? And the expense of compliance makes it not worth it anyway.
Unless something has changed recently to make it easier.
"Those who can, do. Those who can't, teach. Those who can't teach, teach English."
Credit Jacked Camry & LTO