Accounting and tax Advice on who to use to all Foreign Businesses and we offer all foreigners living in Thailand our services. Coming soon:

If you are setting up a Thai Company or Limited partnership or accounting help it is vitally important to have a good accountant who you have confidence in and can provide the valued services you require. Over the years many foreigners have had to use Thai accountants who cannot speak English who have overcharged & are not auditors. We have seen auditors who have processed over 100 companies (the limit) and been fined & those foreigners with Companies having to scramble to find a suitable auditor for their yearly audits. Worse still accountants not filing the proper books to the revenue then not coming to the defence of their clients. Will this has changed somewhat as at 2010 but again we stress the importance of using someone who knows the field of service you want. There are comprehensive services covering all Thailand Accountancy practices. Not only that we are the only company that can provide everything from Law to exports to taxation to Real Estate and banking assistance  from one house. Accounting Standards in Thailand are issued by the Federation of Accounting Professions (FAP) which began in 2004. Before this accounting standards were issued by Institute of Certified Accountants and Auditors of Thailand (ICAAT).

 [ ENGLISH SPEAKING ]

Fees accountants Yearly Audit:

For expats and foreigners with companies you must pay tyo have your books audited every year. The fee can range from approx 8000 baht to 20,000baht but it depends on just what your business is performing and how much is your yearly turnover. Please note the fee structure below is an approx price as all companies are different. It will vary according to the structure of the partnership/company and the work involved in what must be done. For individuals and expats we can advise you what to ask your accountant. There are many pitfalls with Thai accountants and its important to ask whoever you use what the up front costs will be before you commit to using them and also first of all what their speciality field is. Many know nothing about shipping and Customs etc so if in doubt go elesewhere but get the audit fee.

HERE ARE SOME TIPS REGARDING ACCOUNTING EXPENSES AND WHAT YOU NEED TO LOOK OUT FOR.

When opening a Company it pays to do so before January of the start of the fiscal year. Therefore opening your company in December makes sense.

Company Yearly Audit Fees :

The below relate to both a Thai Partnership or a Thai Company

The Company must have a yearly audit done by a chartered accountant which could be different from your accountant so it pays to ask your accountant if they are qualified to do your audit or you have to go elsewhere to get the audit. If your accountant does this on your behalf and seeks the services of a chartered accountant you might be asked to pay 2 fees so try to avoid by asking first. Thus you need to be certified by a company auditor, approved by shareholders, and filed with the Business Development Office, Ministry of Commerce, within 5 months of the end of the fiscal year. Then this is filed with the Revenue Department, Ministry of Finance, within 150 days of the end of the fiscal year. If the company wishes to change its accounting period, it must obtain written approval from the Director General of the Revenue Department. There is an Institute of Certified Accountants and Auditors of Thailand so it pays to use one of these as their standards and nethods must be the same each year you file for your yearly audit.

The fine for late submission of the annual or half year tax return is 2,000 Baht. There is also a surcharge of 1.5 percent of the tax payable per month for late submission of the annual tax return. Underpayment of half year tax can result in a surcharge of 20 percent of the tax that should have been paid.

Email consultations & 24 hour help line [ ]