SCB provides services as a tax withholding agent for the fees incurred from trade finance transactions. We will generate filing documents and remit the tax to the Revenue Department within the 7th day of the following month.
With this service, you no longer need to submit a request for a tax refund which SCB deducts from your trade finance transaction fees, and you no longer have to remit taxes manually.
You will receive a receipt of the bank charges along with a message advising the items and the amount of withholding tax.
SCB, as your representative to remit taxes to the Revenue Department, will email you the withholding tax report for your reference, broken down into transactions and total sums for that month. This report will be delivered on the 5th of each month.
SCB operates as an agent on your behalf by withholding income tax at the specified rate and remitting taxes to the Revenue Department.
A complete withholding tax report is promptly emailed for your reference. 1
1 If you use business cash management services (SCB Payroll, SCB Supplier Payment, SCB BAHTNET, and SCB Cheque Issuance), you may receive a trade finance withholding tax report included in the same report.
Allowing SCB to act on your behalf. It simplifies the manual filing of withholding taxes for trade finance transactions. This will make it easier and lower operating costs.
Assured taxes would be paid on time.
Improve Your Business
Your employees have more time to execute their primary jobs.