Q1029. What procedures apply when translating foreign corporate financial statements for the Revenue Department?

Answered by the NYC Visa & Translation certified translation team

Foreign corporate financial statements submitted to the Thai Revenue Department arise mainly in two situations: a Thai company with a foreign parent providing group financials, and a foreign company with Thai-source income proving its tax position. The translation workflow: the statements (balance sheet, profit and loss, notes, and the auditor's report) are translated into Thai, with the auditor's opinion translated in full — the Revenue Department reads the opinion first, and an unqualified versus qualified opinion changes how the filing is treated. Key rules: figures are never converted or re-rounded — the translation carries the original currency amounts with the currency stated, and any THB conversion is shown as supplementary information with the exchange rate and date noted; the auditor's name, licence number, and firm must be rendered exactly as registered in the home country; and where the statements are consolidated, the notes identifying the consolidation scope must be translated because tax officers use them to assess related-party transactions. For transfer-pricing files, the translation set often includes the group structure chart and intercompany agreements, which should be translated together for terminology consistency. Legalisation requirements depend on the purpose — confirm with the Revenue Department officer or the tax adviser handling the filing whether MFA certification (200/quoted on request per stamp) or the full embassy chain is required for the specific submission.