Accounting and Tax Services in Thailand

Accounting and Tax Services in Thailand

• Accounting System Setup: We assist with the setup of your accounting system, including chart of accounts, and financial reporting structures.
• Bookkeeping and Financial Reporting: We manage your daily bookkeeping tasks, prepare financial statements, and provide regular financial reports.
• Tax Planning and Advisory: We offer tax planning advice to optimize your tax liabilities and ensure compliance with Thai tax laws.
• Tax Filing and Compliance: We handle the preparation and filing of all tax returns, including corporate income tax, VAT, and withholding tax.
• Audit Support: We provide support during audits by the Revenue Department, ensuring that all necessary documentation is readily available.

Benefits of our Thailand Payroll Services

• Cost Savings: Our services can help reduce operating costs associated with maintaining an in-house accounting and tax department.
• Time Savings: Outsourcing your accounting and tax functions to us allows you to focus on your core business operations.
• Dedicated Account Manager: You’ll have a dedicated account manager who serves as your single point of contact, providing personalized support and addressing your specific needs.
• Clear, Multilingual Communication: We offer clear and effective communication in multiple languages to ensure seamless interaction and understanding.

Year-End Accounting and Tax Requirements

In Thailand, year-end accounting and tax processes are critical for businesses. MSA can support businesses with all aspects of Thai tax and and accounting including:

• Preparation of financial statements, corporate income tax filings, and annual audits.
• Witholding tax compliance. Employers in Thailand must also provide employees with necessary tax documentation, such as the Withholding Tax Certificate (BIS 50), which is an annual certificate summarizing their total earnings, the amount of withholding tax deducted, Social Security Fund contributions, and any Provident Fund contributions. Employees require this certificate to accurately file their individual income tax returns.
• Social Security/Payroll Tax Compliance. Employers are also required to prepare and submit annual contributions to the Social Fund Office for Workmen’s Compensation (KT26, 20, 25). Furthermore, an annual summary of employee and director withholding tax deductions, known as the PND 1kor, must be prepared and submitted to the Revenue Department.

Engage MSA Asia for all Thailand Tax and Accounting Services

As Thailand accounting, tax, and corporate services specialists, MSA Asia can support your business with all aspects of ongoing tax filing and accounting compliance. Get in touch with our Thailand tax experts to ensure your seamless and compliant business operations.