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Corporate Accounting and Tax Compliance in Thailand — Complete Guide
Short answer first
A Thai company files withholding tax and, where registered, VAT monthly, submits a half-year corporate income tax return, and files audited financial statements annually with the Revenue Department and the Department of Business Development. Bookkeeping must be maintained continuously; reconstructing a year at the deadline is where penalties come from.
Overall timeline: Monthly cycle throughout the year, with closing and audit after year end
Documents to prepare
| Item | Detail | Status |
|---|---|---|
| Sales and purchase records | Tax invoices, receipts and contracts, filed monthly. | Required |
| Bank statements | All corporate accounts for the full period. | Required |
| Payroll and social security records | Monthly submissions and employee registrations. | Required |
| Prior year financial statements | Required for comparatives when we take over the books. | If available |
Step-by-step process
- Step 1: Set up the books
Chart of accounts and document flow agreed with your team.
Timing: 3–7 days
- Step 2: Monthly compliance
Withholding tax and VAT returns plus social security filed each month.
Timing: Monthly
- Step 3: Half-year corporate tax
Mid-year estimate filed on time to avoid surcharges.
Timing: Annually
- Step 4: Year-end closing and audit
Accounts closed and audited by a licensed auditor.
Timing: 4–10 weeks after year end
- Step 5: Annual filings
Financial statements filed with the Revenue Department and the DBD.
Timing: Per statutory deadline
Pitfalls and how to avoid them
Advice from real cases
- Digitise receipts monthly rather than at year end.
- Align bookkeeping with work permit and visa evidence — immigration often asks for filings.
- Review VAT registration thresholds before your revenue crosses them.
Prefer us to handle it?
- Licensed accountants and auditors working alongside our corporate and immigration teams.
- Deadline calendar managed for you across every monthly and annual obligation.
- Bilingual reporting for foreign directors.
Send scans for a free assessment — call 083-2494999 · LINE @NYC168 · contact@nyclegal.co.th
Read next
- Thai version of this guide
- English knowledge hub
- English FAQ
- Playbook: Certified Document Translation
- Playbook: NAATI Translation for Australia
- Playbook: Notary Public (Notarial Services Attorney)
- Playbook: MFA Legalization / Apostille
- Playbook: Visa Applications Abroad
- Playbook: Police Clearance Certificate
- Playbook: Thailand Work Permit / Non-B Visa
- Playbook: Company Registration in Thailand
- Playbook: Marriage and Family Documents
- Playbook: Interpreter Services
- Playbook: Study Abroad Documents
- Playbook: Government Document Retrieval by Proxy
- Playbook: Expat Paperwork in Thailand
We advise first, then do the work
We set the tax calendar at the start of the accounting year and remind ahead of each deadline, rather than fixing penalties afterwards.
- Free case assessment before you commit — send photos of your documents and we tell you what is actually needed.
- A team of licensed attorneys, notarial services attorneys and registered translators, with over 15 years of combined practice.
- We flag risks and alternatives in writing — including when the cheaper or faster route is the correct one.
- We stay with the case after delivery: if the receiving authority asks for more, we advise at no extra consulting fee.
Talk to an adviser: 083-2494999 · LINE @NYC168 · contact@nyclegal.co.th