Tax and accounting
Accounting and tax are ongoing work for as long as the company exists, not a task done once and finished. An entry recorded wrong at the start of a period is harder to correct than one caught while it is still current.
SCOPE
What this covers
- Bookkeeping and financial statements to Thai Financial Reporting Standards, monthly, quarterly and annual, with management analysis for the board or head office
- Adjusting the Thai financial statements to IFRS or PRC GAAP for consolidation into an overseas group's own reporting
- Tax filings and ongoing compliance, and acting for the company in Revenue Department audits and assessments
- Maintaining compliance with the tax privileges of BOI-promoted projects and businesses in the Eastern Economic Corridor (EEC)
- Payroll and personal income tax planning for Thai and foreign employees, with social security filings
- Cross-border tax structuring, transfer pricing documentation between related companies, and applications to use relief under a double taxation agreement
PROCESS
How it proceeds
- 01
Take on the books
Reviewing the existing books, or setting up a new system, with a chart of accounts that matches what the parent company needs to see.
- 02
Monthly close and filing
Closing the month, filing the taxes due that month, and remitting social security contributions.
- 03
Annual statements and audit
Preparing the annual financial statements for filing with the Department of Business Development and the Revenue Department, and coordinating with the company's certified auditor.
- 04
Ongoing advice
Advising on tax questions that arise during the year, and representing the company when the Revenue Department asks for further documents.
DOCUMENTS
What we will need from you
- Company documents, the prior year's financial statements if any, and the existing chart of accounts
- Purchase and sales tax invoices, receipts and the supporting documents for each month's entries
- The employee list, salary rates, and the documents needed for personal income tax filings
ENQUIRIES
