Accounting, Tax
& Payroll
Experience effortless corporate management and elevate your business with VB & Partners’ premier Accounting and Secretary services. Whether you’re seeking a dedicated Company Secretary in Thailand or expert Accounting solutions, VB & Partners has got you covered.
Streamline deadline tracking, document management, and compliance with our comprehensive company secretarial service. Tackle Accounting intricacies with the assistance of our adept experts who manage paperwork, validate data with precision, and ensure prompt filing. Benefit from fixed pricing and access to our esteemed pool of professionals, ensuring reliable and efficient corporate support from VB & Partners.
Thorough financial reporting, including annual audited financial statements, is mandatory for companies. Compliance with the reporting requirements set by the Ministry of Commerce and the Revenue Department ensures transparency and accountability.
Adhering to Thailand's tax regulations is paramount. Properly reporting income, expenses, and ensuring accurate tax calculations are crucial for businesses to meet their tax obligations and avoid penalties.
Proficiently managing taxes, including Value Added Tax (VAT), is vital for businesses. This entails a comprehensive understanding of tax regulations, timely VAT registration, and accurate application of the 7% VAT rate to goods and services. It is essential to ensure compliance and prevent potential tax-related challenges.
Why work with VB and Partners?
Embarking on a business venture, especially in a foreign land, can appear overwhelming. At VB & Partners, we understand this challenge and our experts are ready to assist with your needs. Our comprehensive range of services covers every step, from initial business feasibility assessments to complete incorporation and the start of your business operations.
Navigating local laws and regulations is a paramount concern for foreign enterprises. Our tailored solutions alleviate this complexity, ensuring unwavering adherence to legal mandates. Backed by a team well-versed in the intricacies of the Thai market and regulations, ensuring the smooth operation of your business.
VB & Partners takes pride in its assembly of seasoned experts. Ranging from Incorporation, Accounting & Secretary Services to Immigration and Real Estate, VB & Partners stands as your premier destination for all your legal and accounting needs.
What does this package include
- Collection of documents from you: Between the 1st day to the 3rd day of each month our experts will collect all the required documents.
- Transaction reconciliation and Tax calculation: Between the 3rd day to the 10th day of each month, the accountant will review all transactions to reconcile them with the bank statement and calculate the amount of tax due.
- During the reconciliation process, the accountant must ensure that all income or expenses match with a corresponding document (invoices, payslips etc.). Failure to do so may result in fines and extra tax liabilities.
- Tax filings and payments: Between the 10th day to the 15th day of each month, the accountant will file the tax returns forms with the Revenue Department.
- Bookkeeping and management report: Between the 10th to the 20th of each month, the accountant will record the transactions in the accounting software and categorize them. The accountant will then send you the management report.
and effective tax management
Price: + 7% VAT
How does the accounting process work?
Step 1 : Collection of documents from you
Between the 1st day to the 3rd day of each month, you have to send us:
• Banks statements and online payment gateway statements (if any)
• Access to a share drive with all your transactions (invoices and expenses) or send original documents to our office of the previous month
• The Tax invoice/Receipt for each invoice that you have issued that that has been paid
Step 2 : Transactions reconciliations and Tax calculation
Between the 3rd day to the 10th day of each month, the accountant will review all transactions to reconcile them
with the bank statement and calculate the amount of tax due.
During the reconciliation process, the accountant must ensure that all income or expenses match with a
corresponding document (invoices, payslips etc.). Failure to do so may result in nes and extra tax liabilities. This is
why it is important to share all documents under step 1 on time. If the accountant has doubts on the reconciliation
of certain transitions, he will contact you directly.
Step 3 : Tax lings and payments
Between the 10th day to the 15 day of each month, the accountant will le the tax returns forms to the Revenue
Department.
You can pay the tax directly to the Revenue Department (QR code or bank transfer) before the deadline or request
the accountant to pay the taxes on your behalf (the accountant will send you a tax advance request).
Step 4 : Bookkeeping and management report
Between the 10th to the 20 of each month, the accountant will record the transactions in the accounting software
and categorize them. The accountant will then send you the management report.
What is included in the monthly tax lings?
The monthly tax ling service includes the monthly withholding tax calculation and ling (Forms PND 3, PND 53,
PND 54).
If your company is registered with the VAT, the VAT ling service includes the monthly VAT computation and ling
(Forms PP 30, PP 36).
What you must know before applying
Book a Call with our expert
Up to an hour consultation about accounting in Thailand.
We will provide you with information on key areas such as; taxes, accounting and other general aspects of running a company in Thailand. We will also answer any other legal questions you may have to provide you with a clear overview.
If some extra research is necessary to answer your questions, our experts will check and revert to you with complementary elements by email.
This consultation is provided by legal experts in English or in French.
Frequently Asked Question
Companies in Thailand are required to maintain records of financial transactions, including ledgers, receipts, invoices, and accounting books.
The fiscal year in Thailand typically follows the calendar year, running from January 1st to December 31st. However, companies can choose to use a different fiscal year.
Businesses in Thailand are subject to various taxes, including corporate income tax, value-added tax (VAT), specific business tax, and withholding tax on payments made to residents and non-residents.
Thai companies must file half-yearly tax submission reports and annual financial statements. Additionally, corporate income tax returns must be filed annually.
Yes, Thailand offers tax incentives and benefits to businesses operating under the Board of Investment (BOI) scheme, which can include tax holidays and reduced corporate income tax rates.
Withholding tax is a tax deducted at the source of payment. In Thailand, it applies to various transactions, such as interest, dividends, royalties, and payments to non-resident individuals or companies.
Yes, Thai companies are required to appoint an auditor, who must be a Certified Public Accountant (CPA) in Thailand, to conduct annual audits and verify financial statements.
Non-compliance with tax filings in Thailand can result in penalties, fines, and legal actions. It's essential to meet all tax obligations to avoid these consequences.
Yes, companies in Thailand can use accounting software. Popular options include cloud-based software like Xero and local solutions like Thai Accounting Software (TAS).