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Accounting

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Accounting Service

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We help you to make the financial side of running a business as easy as possible.  Our staff takes over all the details, while you can focus on your core business.

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All you need to know about Invoicing in Thailand

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Bookkeeping

Our bookkeeping services adhere to all regulatory standards including the Thai Revenue Code and Thai Accounting Act B.E. 2543. As a licensed Quickbooks ProAdvisor, we let our clients benefit from the features of the world leading Accounting software. With the Cloud software you will be able to access your financials at anytime from anywhere in the world.

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Annual Audit

Every legal entity in Thailand is required to file the annual audit on a yearly basis. In cooperation with independent local and international auditing firms, we prepare and audit financial statements, comprising balance sheet, income statement, cash flow statement, and statement of changes in shareholders’ equity. Once signed off by the auditor, it will be our job to submit the report to the Revenue Department and the Department of Business Development.

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Management Reports

In order to measure your company’s performance, Management reporting is an extremely important factor. With the help of Quickbooks Accounting Software, we will support you to create a tailor-made Management Reporting tool, comprising Cash Flow analysis and Cash & Profit Forecasting. By visualizing those parameters, you will get a better insight and can make better, informed decisions.

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Social Security Reporting

Monthly contributions to the Social Security Fund apply for all employees of a company (apart the Managing Director) and are divided in equal parts between employer and employee. The report needs to be submitted by the employer by the 15th of the following month. The payment needs to made not later the 25th. Each party is obliged to pay 5%, based on the gross salary of the employee. With a salary cap at THB 15,000.00, the maximum contribution totals THB 1,500.00 (THB 750.00 to be deducted from the employee’s salary & the same amount payed by the employer). On top comes an additional 2.75%, paid by the Thai government. Annual Company fund levy is the summary of the monthly contributions and need to be submitted by the end of each year. In order not to miss any deadline and submit the correct amounts to Social Security Office, we will be happy to manage your Social contributions.

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Personal Income Tax:

In Thailand, everyone must file a personal income tax return including non-residents and residents, non-registered partnerships, deceased individuals and community enterprises. Residents are individuals who live in Thailand for at least 180 days of the year. We can help you with personal income tax, corporate income tax and all tax matters.

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Withholding Tax (PND 1 / 3 / 53 / 54):

Corporate Withholding Tax (WHT) as well as Value Added Tax (VAT) need to be filed on a monthly basis.

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Value Added Tax (Por Por 30)

Our job is to offset the monthly Purchase VAT & Sales VAT, prepare the report and submit it to Revenue Department by the 15th of every month. On top we can optionally manage the timely payment of taxes to Revenue Department on behalf of our clients.

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Monthly Accounting

Corporate Withholding Tax (WHT) as well as Value Added Tax (VAT) need to be filed on a monthly basis.

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Interesting to know

Quick accounting Facts

These Expenses are deductible…

Net losses – up to 5 years carried forward

Interests excluding interests on capital reserves or funds of the company

Annual Depreciation of Assets

Wear & Tear

Donations - up to 2% of net profits

200% Deduction on Training costs

Provident Fund Contributions

Entertainment costs – up to 0.3% of gross income & must not exceed THB 10.0 Million

Bad debts (conditional)

200% Deduction on equipment invested for disabled employees

200% Deduction on expenses for Research & Development

…and these are not!

Expenses with insufficient supporting documents

Allocations to reserves

Fines & Penalties

Expenditure incurred in a prior period that were not accrued at the end of that period

Withholding Tax that was paid on behalf of 3rd parties

Get your individual quotation for our Accounting Services today!

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The worldwide leading Cloud Accounting Software let you see how your business is doing instantly.

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Manage your Letters and Parcels digitally! Bangkok Virtual Mailbox Service guarantees you maximum convenience!

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