Two compliance obligations, every year
In Thailand, corporate compliance rests on two financial obligations: monthly accounting and tax filings, and the yearly statutory audit. Thai law requires every registered company, even a fully inactive dormant one, to file monthly reports and submit an audited financial statement each year.
Because filings must be prepared in Thai and follow Thai Financial Reporting Standards (TFRS), foreign-owned businesses almost always outsource this work to a local firm.
Monthly accounting and bookkeeping
Monthly work scales with your transaction volume: the number of invoices, expense receipts, bank movements, and employees on payroll. Most firms bundle bookkeeping, bank reconciliation, and the mandatory monthly tax filings (VAT, withholding tax, and social security) into one package.
In practice that covers day-to-day data entry into cloud software, monthly balance sheet and profit-and-loss statements, and submission of the monthly tax forms (PP30, PND 1/3/53, and SSO payroll matching).
- Dormant or inactiveNo trading activity, but filings are still required to stay compliant.
- Startup or micro-SMEA light, steady flow of transactions each month.
- Growing SMEA heavier monthly load with more invoices, payments, and payroll.
- Active enterpriseHigh transaction volume that needs close monthly attention.
We provide full compliance like the top agencies and run everything on PEAK cloud software, giving you real-time financial data and summaries for internal planning. You also get proactive tax planning designed to legally minimize your liabilities and maximize your savings.
Yearly closing and audit
At year-end, your company closes its accounts and has its financial statements audited by an independent, licensed Thai CPA. The cost has two separate parts.
- Account closing and statement preparationPaid to your regular accounting firm to assemble the annual ledger, calculate depreciation, and draft the year-end financial packet.
- Statutory auditPaid to the independent licensed CPA who audits your books. Under Thai law, the person who does your monthly bookkeeping cannot be the auditor who signs off the year-end audit.
What drives the annual audit cost
Annual audit work scales with your company's capital, reported revenue, complexity, and inventory-tracking needs. Broadly:
- Dormant or inactiveA CPA sign-off on a clean, empty balance sheet to avoid government fines.
- Small SMEStandard financial review, e-filing to the DBD, and preparation of the annual corporate income tax return (PND 50).
- Mid-scale SMEAn expanded review with sample testing of invoices and fixed-asset verification.
- Large-scale entityA comprehensive audit with complex transaction verification and full regulatory compliance mapping.
Every company's volume, complexity, and structure differ, so fees depend on your specific situation rather than a fixed list price. Tell us about your business and we will give you a clear, tailored quote.