Belaws Thailand
  • thailand
  • legal
    • Legal
      • All Legal services
      • Urgent. Same day advice
      • Immediate legal consultation
      • Document Review
      • Prepare a legal document
      • Draft
    • Our expertise
      • BOI Promotion
      • Employment Law
      • Merger & Acquisitions
      • Restructuring & Insolvency
      • Banking & Finance
      • Real Estate
      • Startup servicesNew
      • Blockchain
      • Energy, Mining & Infrastructure
      • Intellectual Property
      • Tax Expertise
      • Telecommunication, Media & Technology
      • Commercial Transactions
      • Family Law
      • Others Expertises
      • Please note that this #Ebook does not constitute legal advice and should only be used for informative purposes only.
  • incorporation
    • Incorporation
      • All Incorporation services
      • Market Entry
      • Business feasibility check
      • Market research
      • Entry strategy
    • Companies type
      • BOI Company
      • Limited Company
      • Representative Office
      • U.S Treaty of Amity company
      • Branch Office
      • Startup servicesNew
      • International Business Center
    • Business Licenses
      • Foreign Business License
      • E-commerce License
      • Factory License
      • Important License
      • Restaurant License
      • See all Licences
  • Accounting & secretary
    • accounting & secretary
      • All Accounting & Secretary services
      • Urgent. Same day advice
      • Immediate consultation
      • Document review
    • corporate
      • Draft Minutes
      • Changing Directors
      • Share transfer
      • Registered address change
      • Capital Increase
      • Meetings (AGM)
      • Meetings (EGM)
      • Close a company
      • Notarisation & Translations
      • Notarisation & Legalisation
      • Translation documents
    • accounting
      • Bookkeeping & tax filings
      • Annual audit
      • Payroll
      • Payroll outsourcing
      • Tax
      • VAT Registration
      • Corporate Income Tax
      • Personal Income Tax
  • Corporate
    • accounting & secretary
      • All Accounting & Secretary services
      • Urgent. Same day advice
      • Immediate consultation
      • Document review
    • corporate
      • Draft Minutes
      • Changing Directors
      • Share transfer
      • Registered address change
      • Capital Increase
      • Meetings (AGM)
      • Meetings (EGM)
      • Close a company
      • Notarisation & Translations
      • Notarisation & Legalisation
      • Translation documents
    • accounting
      • Bookkeeping & tax filings
      • Annual audit
      • Payroll
      • Payroll outsourcing
      • Tax
      • VAT Registration
      • Corporate Income Tax
      • Personal Income Tax
  • visas
    • visas
      • All Visas services
      • Urgent. Same day advice
      • Immediate consultation
      • Document review
    • live in thailand
      • LTR Visa
      • Thai Elite Visa
      • Retirement Visa
      • Marriage Visa
      • Change your visa type
      • See all visa options
    • work in thailand
      • PEO Services
      • Non Immigrant B Visa
      • Work Permit
      • BOI Visa & Work Permit
      • Change your visa type
  • blog
    • blog
      • All Blog posts
    • resources
      • Facebook Thai Visa Belaws
      • Facebook Belaws
    • ebook
      • Ebook on Condo purchase
      • Ebook Employment Law
  • signup
  • login
  • Menu Menu
  • Belaws – Home
  • Belaws – Singapore
  • Belaws – Hong-Kong
  • Belaws – Cambodia
  • Belaws – Vietnam
  • signup
  • login
  •  
  • Legal
  • Incorporation
  • Accounting & Secretary
  • Visas
  •  
  • Immediate consultation
  •  
  • Blog
  •  
  • CONTACT
Belaws Home ›› Thailand ›› Accounting & Secretary ›› Bookkeeping & tax filings

Accounting & Secretary

Bookkeeping & Tax Filing in Thailand

Our Bookkeeping & Tax Filing service offers a tailor made plan designed to meet the specific requirements of our clients. We always ensure that our services are in full compliance with the Thai regulatory framework.

Talk to us
Belaws - Thailand Elite Visa bookkeeping Tax Filling

Why is bookkeeping and tax filing important in Thailand?

Keeping up-to-date with your company’s bookkeeping can be a significant pain point for many business operators in Thailand. Thai accounting regulations can often be confusing to understand and failure to follow them properly could result in significant fines being imposed on your company.

Our bookkeeping and tax filing service is offered by highly qualified accountants who will keep your company books in good order and satisfy all your accounting needs. Our experts will prepare everything in a streamlined and efficient way, allowing you to focus on other areas of the company.

Our bookkeeping and tax filing service takes care of the following:

  • Prepare and provide monthly profit/loss statements, balance sheets and input – output tax reports.
  • Provide accounting service and tax planning. This includes the payment for any tax deductions.
  • Prepare and provide annual reports for your company.
  • Prepare, change or update business documents at the Ministry of Commerce, Revenue Department, Ministry of Labor and Immigration Office.
  • Lower annual audit costs.

Pricing

FROM

THB 3,500 *

+ 7% VAT

Get started
Work handled by expert Accountants fluent in English.

Scope of work

  • Prepare and provide monthly profit/loss statements, balance sheets and input – output tax reports and annual reports.
  • Calculate and submit payment for any relevant tax deductions.
  • Prepare, change or update business documents at the relevant departments.
  • Answering questions in relation to the Bookkeeping process.
  • Advising you on the future duties to ensure a smooth business operation.

Need more?

Additional services that you may need

  • VAT Registration
  • Annual Audits
  • Payroll

What is the process for the bookkeeping and tax filing service?

Be prepared for obtaining your BOI Licence with our comprehensive and free registration checklist.

Be prepared for obtaining your BOI Licence with our comprehensive and free registration checklist.

Prepare all monthly reports

Our expert will prepare all the required monthly statements and reports for your company.

TIMELINE

x business days

Tax deductions

Our expert will calculate and deduct all relevant tax payments. Our expert will also arrange the payment of these taxes at the relevant department.

TIMELINE

A few days to collect documents from the parties and prepare the application.

Further compliance needs

Our expert will prepare any annual reports as required. Our expert will also Prepare, change or update business documents at the relevant department, if and when the need arises.

TIMELINE

One day for filing the application
x day for receiving the approval letter

Frequently asked questions

What are the accounting standards used in Thailand?

There are 2 tiers of Thai accounting standards (TAS) and Thai financial reporting standards (TFRS):

  1. TFRS for publicly accountable entities that follow International Financial Reporting Standards (IFRS).
  2. TFRS for non-PAE (a business entity whose securities are traded; a public company limited or a company holding assets in a fiduciary capacity).

What should the Account Books Include?

According to Thai law, the account books should contain the following:

  • The daily financial transactions and the bills of the transactions.
  • Ledgers.
  • Original and copies of bills.
  • Trial balance.

What are the Accounting Services in Thailand that can be Expected?

The following services are usually provided:

  • Value Added Tax
  • Creating Monthly Reports
  • Annual Tax Return
  • Record Accounting Transactions
  • Withholding Tax & Returns
  • Schedules for Financial Statements
  • Mid-Year Tax Returns
  • Annual Tax Return
  • Submitting Annual Financial Statement to the Thai Government
  • Payment Transfers

What are Tax filing and accounting deadlines in Thailand?

  • Bookkeeping
    The first duty of the accountant is to prepare the monthly financial statement and ensure reconciliation between the bookkeeping and the bank statements. Our accountant uses the software Xero allowing you to keep track of the bookkeeping at any time and easily obtain monthly financial statements, profit and loss Statement as well as balance sheet.
    When: Monthly Basis
  • VAT filing (form PP30 and PP36)
    The second duty of the accountant is to proceed to the tax filings for the VAT.
    When: Before the 7th of each month and 15th day of the following month (7th for PP36 and 15th for PP30).
  • Withholding taxes on services and rent (Form PND 3/53/54)
    The payment of services and rent is subject to a withholding tax (3% on domestic payment and up to 15% on payment of services out of Thailand). The withholding tax is withheld from the total amount of the invoice (before VAT) by the payer. The accountant prepares and sends a withholding tax certificate to the payee for each transaction subject to the withholding tax. On the payee side, the withholding tax is considered as a tax advance on the yearly corporate income tax.
    When: Before the 7th of each month.
  • Social Security Fund registration and filing
    Registration with the Social Security Fund (SSF) and monthly contribution are mandatory for employees aged from 15 to 60 years old. A new employee must be registered with the SSF within 30 days. The contribution rate is 5% of the gross salary with a cap at 750 THB. The contribution is paid by both the employee (withheld by the employer) and the employer with a maximum of 1,500 THB per month. This is part of our payroll service.
    When: For each new hire or termination and on the 15th of each month.
  • Personal income tax
    The personal income tax is withheld from the employee’s salary and paid by the employer on his behalf on a monthly basis (PND 1). At the end of the year, the employee must file his annual personal income tax (PND 90 or 91). Our accountant can also take care of the annual personal income tax filing of employees when he is in charge of the payroll.
    When: Before the 7th of each month and last day of March.
  • Corporate income tax
    The Corporate Income Tax rate in Thailand is 20% on net profits ( a progressive rate applies up to a certain amount of income ). A prepayment of half of the corporate income tax based on the estimated annual net profit must be done within 2 months of the first 6 months accounting period (Form CIT 51). The prepaid tax is creditable against the annual tax filing must be done within 150 days from the closing date of its accounting period (Form CIT 50).
    When: Within two months of the first 6 month of the year and 150 days before the end of the year.

What is included in bookkeeping services ?

  • Prepare and provide monthly profit/loss statements, balance sheets and input – output tax reports and annual reports.
  • Calculate and submit payment for any relevant tax deductions.
  • Prepare, change or update business documents at the relevant departments.
  • Answering questions in relation to the Bookkeeping process.
  • Advising you on the future duties to ensure a smooth business operation.

Why is bookkeeping and tax filing important in Thailand?

Keeping up-to-date with your company’s bookkeeping can be a significant pain point for many business operators in Thailand. Thai accounting regulations can often be confusing to understand and failure to follow them properly could result in significant fines being imposed on your company.

Explore other Services

  • BOI Company
  • Limited Company
  • Branch Office
  • Representative Office
  • US-Thailand Treaty of Amity
  • Share transfer
  • Meeting (AGM)
  • Meeting (EGM)
  • Close a company

Question Before You Begin? *

Question Before You Begin? *

Speak to our expert by scheduling afree call
on how to set up a Retirement Visa in Thailand with Belaws.

(*) This Conversation is intended to provide basic answers to questions you may have. But it is not a Lawyer’s Consultation.

Schedule a call
Schedule a call

The last 3 posts of our blog
Belaws Thailand

Understanding Withholding Tax in Thailand: What You Need to Know

Understanding Withholding Tax in Thailand: What You Need to Know

31/03/2023
Withholding tax in Thailand can be complex, especially for those unfamiliar with the country's tax system.
March 31, 2023/by jonathan
Navigating Loans and Mortgages as a Foreigner in Thailand

Navigating Loans and Mortgages as a Foreigner in Thailand

30/03/2023
In this blog post, we have a step by step guide for obtaining loans and mortgages in Thailand as a foreigner.
March 30, 2023/by jonathan
Everything You Need to Know About E-Payment Licences in Thailand

Everything You Need to Know About E-Payment Licences in Thailand

29/03/2023
This blog post will discuss the requirements for obtaining e-payment licenses in Thailand.
March 29, 2023/by jonathan
Scroll to top