Accounting and Taxation in Thailand

Accounting and Taxation in Thailand is an important part of the procedure in the country that needs to be followed to avoid strong fines and penalties. As an individual residing in the country or with a business of your own, you will need to follow the rules and regulations by paying your taxes on time and making sure that your accounting is all set in order.

At Pimaccounting, we strive to make sure that your accounting is properly done and that all taxes and documents are sent to the government on time. With our complete package that we have tailor-made for our clients, we can help with your accountancy, audit, bookkeeping, and payroll services in Thailand for any type of entity that you have registered in the country. There are ways that you can also optimize your tax for your benefit which our team can help with. Listed below are the accounting services we can provide for SMEs:

  • Dedicated Certified CPD Accountant (EN/TH)
  • x transactions per month
  • Bookkeeping / Annual Report
  • Monthly Tax Filing
  • Payroll / n Employees
  • PND.51 Submission
  • Monthly Report
  • Annual KT.20
  • Annual PND.1
  • Monthly SSO
  • Cloud-based Accounting Software

Accounting and Taxation in Thailand

Similarly, at the end of the year, businesses are also required to submit a full accounting report while also preparing an audit to be submitted on time. The services are listed below:

  • Annual financial statement (Dedicated certificate CPD)
  • Annual Audited financial statement (by Dedicated certificate CPA)
  • Trial balance, General Ledger, Journal entry, Detail Support financial statement
  • Annual Tax Return Calculation (PND.50), Completing and Submitting tax to The Revenue Department
  • E-filing Submission to DBD
  • BOJ.5, SBC.3, and SBC3/1 Submission

It is important for you to understand that taxes are imposed at both national and local levels in Thailand and will be collected by the Ministry of Finance. With these taxes, there are certain categories where income tax will be collected in which you will have to figure out where you belong:

  • Corporate Income Tax
  • Value Added Taxes
  • Stamp duty
  • Personal Income Tax 

Additionally, you will have to respect both the Personal Income Tax and Corporate Tax to avoid certain fines. The personal income tax is essentially a direct tax from the income of an individual while the corporate tax is a direct tax from a company or partnership established under Thai or foreign law. When it comes to Tax filing, you are required to submit your tax returns and payments twice per year.