Accounting, Tax & Ongoing Compliance for Thai Companies

Foreign entrepreneurs launching a business in Thailand must go beyond initial setup – ongoing accounting, tax, and regulatory compliance is critical. This final article in our five-part series assumes you’ve completed company registration, obtained work permits, made local hires, and secured visa renewals in Articles 1–4. Now, we’ll detail the monthly, quarterly, and annual obligations that keep a Thai company in good standing long-term. We’ll cover routine tax filings (PND forms and VAT), social security contributions, annual financial statements with audits, mid-year corporate tax, payroll record-keeping, and how all these tie into work permit and visa renewals. High compliance standards build trust with authorities – and paying around ฿10,000/month for professional compliance support can be seen as “insurance” against legal, visa, and audit risks rather than just an expense. Below, we break down key deadlines, penalties for non-compliance, and the scope of services a licensed provider typically covers (versus DIY). The tone here is advisory and data-driven – helping you understand why staying compliant matters more than pitching any service.

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Series overview. As mentioned, this article will paint the big picture. Subsequent articles will dive deeper into topics like Company Registration in Thailand (structure, capital, and legal considerations), Work Permits & Hiring Requirements (the 4:1 Thai employee rule, social security, etc.), Business Visas & Immigration (securing and extending your Non-Immigrant “B” visa), and Accounting & Compliance (tax filings, audits, and maintaining good standing). All are pieces of the same puzzle. Let’s begin by mapping out these connections.

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Article 1 of 5

The Thailand Business Setup Puzzle

How structure, visas, work permits and compliance lock together.

Article 2 of 5

Company Registration in Thailand

Structures, capital, shareholder mix and legal foundations.

Article 3 of 5

Work Permits & Hiring Requirements

4:1 Thai ratio, social security, and compliant headcount planning.

Article 4 of 5

Business Visas & Immigration

Non-B strategy, extensions, and aligning visas with your structure.

Article 5 of 5

Accounting, Tax & Ongoing Compliance

Filings, audits, payroll and staying in good standing long term.

Tap any card to jump to the relevant deep-dive once the full series is live.

Monthly Tax Filings and Contributions

Once your Thai company is operational, monthly tax filings become a regular rhythm. Thailand’s Revenue Code requires businesses to withhold and remit taxes on certain payments, and file corresponding Por Ngor Dor (PND) forms each month. The main ones are:

• PND.1 – Withholding tax on salaries: If you pay employees (or individuals under hire-of-work contracts), you must deduct personal income tax at source and file a PND.1 return monthly. This covers payments under Section 40(1)–(2) of the Thai Revenue Code (employment income and hire of work). In practice, a percentage of each employee’s salary is withheld based on progressive tax rates, and the total withheld is reported on PND.1.
• PND.3 – Withholding tax on certain payments to individuals: This form is for vendor or service payments to Thai individuals (e.g. freelance professionals, rent to a individual landlord, etc.) that fall under Sections 40(3)–(8) of the Revenue Code. Commonly, professional fees or rental payments require 3% withholding, and the company must file PND.3 to remit that tax.
• PND.53 – Withholding tax on payments to companies: When your company pays another Thai company or partnership for services (or certain other taxable payments), a 3% withholding typically applies and must be reported on PND.53. For example, paying a local consultancy fee of THB 100,000 might require withholding THB 3,000 and sending it to the Revenue Department via this monthly return.

These withholding obligations mean the company is a tax collector for the government – non-compliance can lead to fines, so it’s important to track all payments that require withholding each month. All PND filings and tax payments are due shortly after the month-end. Traditionally, paper filings were due by the 7th of the following month, but with widespread e-Filing adoption, the deadlines extend to the 15th. In fact, the Revenue Department has continued an eight-day deadline extension for electronic filings through at least 2027. Practically, this means if you file and pay online, a June withholding tax (PND) return would be due by July 15th instead of July 7th. As of 2025, Thailand is pushing most taxpayers to use the e-Filing system (from January 2025, withholding tax returns must be e-filed) – so expect the 15th of the month deadline to apply in most cases.

Value-Added Tax (VAT) is another key monthly filing for companies that are VAT-registered. VAT in Thailand is 7% on the sale of goods or services, with certain exemptions. A company must register for VAT once annual revenue exceeds THB 1.8 million (approximately USD 50,000), or can choose to register sooner. If registered, you need to file a Por Por 30 (PP.30) VAT return every month, even for months with no sales. The VAT return declares output tax collected from customers and input tax paid on expenses, with the net VAT payable to be remitted (or a refund claimed if inputs exceed outputs). The standard due date is the 15th of the following month for paper filings, or extended to the 23rd if filing online. For example, July’s VAT return must be filed by August 15th (August 23rd if e-filed). Even dormant companies registered in VAT must file “nil” returns – skipping a month is not an option.

Alongside tax, Thai companies with employees must handle Social Security (SSO) contributions. Both employer and employees contribute 5% of wages (capped at THB 750 each, per employee, per month) to the social security fund. The company must submit a monthly contribution report (Form SPS 1-10) and pay the combined contributions by the 15th of the following month. For instance, January’s SSO contributions are due by February 15th. The Social Security Office does not currently grant an e-filing extension – whether you file online or in person, the deadline remains the 15th. Timely SSO payments are crucial not only to avoid surcharges but to ensure your employees maintain their benefit entitlements.

To give you a clear picture of all these recurring duties, we’ve summarized the key monthly deadlines in the table below. Note that “paper” refers to in-person or manual filing (if still applicable), and “online” refers to using the Revenue Department’s e-filing portal or SSO e-service:

Thai Company Compliance?
Clean Books = Fewer Problems Later.

Most founder issues aren’t “legal” issues — they’re paper trail issues: late filings, weak invoices, payroll shortcuts, or VAT/WHT done wrong. That’s what breaks banking, audits, and work permit renewals.

• Accounting & monthly close: consistent records that match reality
• Tax basics: VAT/WHT/CIT, filing cadence, common failure points
• Payroll & SSO: compliant staffing trail that supports renewals

Start with city + your company stage so we route you to the right accounting/compliance specialist.

Thai companies face recurring deadlines every month and year to stay compliant. The figure above illustrates key filings: notice how monthly tax returns are generally due by the 7th–15th of the next month, whereas annual requirements occur at longer intervals (half-year, annual, or multi-year). Missing these deadlines can lead to fines or even jeopardize your company’s standing in Thailand. Figure: Overview of critical monthly and annual compliance deadlines for a Thai limited company.

Annual Financial Statements, Audits and Corporate Tax Filings

In addition to the monthly routine, Thai companies have significant annual obligations. The cornerstone is preparing annual financial statements and having them audited by a licensed Thai CPA. Unlike some jurisdictions, Thailand requires an annual audit for all companies, regardless of size or revenue – there’s generally no “small company” exemption. Even a new startup with minimal activity must have its year-end books reviewed and certified by an independent auditor.

The typical financial year in Thailand is the calendar year (ending 31 December), though companies can pick a different fiscal year. After the year-end closing, the timeline is as follows:

• Hold an Annual General Meeting (AGM) within 4 months of fiscal year-end. For a calendar-year company, this means by April 30th. At the AGM, shareholders approve the past year’s financial statements, among other standard agenda items (director reports, dividends, auditor appointment for next year, etc.). Thai law (Civil and Commercial Code, Section 1175) mandates this meeting and its procedures, including proper notice to shareholders and a quorum (typically at least 25% of shares represented). Missing the 4-month AGM deadline can result in penalties – the Department of Business Development (DBD) can fine the company and its directors (commonly up to THB 6,000 each for late AGMs).
• Submit the audited financial statements to authorities soon after. There are two separate submissions:
  1. To the DBD (Ministry of Commerce): Within 1 month of the AGM. If your AGM was on April 30th, the DBD e-filing of financial statements is due by May 31st. Along with the financials, companies submit an updated shareholder list (form Bor. Or. Jor. 5) within 14 days of the AGM. The DBD uses these to update public records of your company’s status. Late filing triggers fines that escalate with time – for example, submitting financials over 2 months late can incur a THB 4,000 fine on both the company and the responsible director, and over 4 months late can incur THB 6,000 each. These are DBD penalties separate from any Revenue Department issues.
  2. To the Revenue Department (tax authorities): Within 150 days of fiscal year-end. For a Dec 31 year-end, that is roughly May 30th in the following year. This is done by filing the annual corporate income tax return, PND.50 (sometimes written as Por Ngor Dor 50). The PND.50 computes your final corporate income tax for the year (standard CIT rate is 20%). It must be accompanied by the audited financial statements as attachments. If tax is owed, payment is due by the same deadline. Thailand’s self-assessment system means the onus is on the company to file accurately; late submission of the PND.50 is subject to a fine up to THB 2,000 and a surcharge of 1.5% per month on any tax duev. (If no tax is due, you’d still face the fine for late filing, even if surcharge on tax doesn’t apply.)
• File a Half-Year Corporate Tax Return (PND.51): Thailand doesn’t wait until year-end to start collecting corporate taxes. Companies must file a mid-year return (Por Ngor Dor 51), reporting an estimate of the first 6 months’ profit, and pay 50% of the estimated annual tax, within 2 months after the mid-point of the accounting year. For calendar year companies, H1 covers January–June, so the PND.51 is due by end of August. If you underpay at mid-year (i.e. your estimate is too low compared to actual full-year profits), there’s a potential penalty: if the tax paid in PND.51 is less than 50% of the actual tax for the year, a surcharge of 20% on the shortfall can be applied. This essentially encourages companies to estimate their profits accurately by mid-year. Late filing of PND.51 itself carries a smaller fine (up to THB 2,000, often THB 1,000 if just a few days late), but the 20% underestimation penalty is what really hurts if you weren’t prudent in forecasting.
• Annual payroll reporting: In addition to the monthly payroll tax filings (PND.1) throughout the year, Thai companies must submit an annual summary of personal income tax withheld from employees. This is the PND.1 Kor (PND.1 ก) form, due by the end of February each year, summarizing all salaries paid and taxes withheld for each employee in the previous calendar year. Essentially, it’s a reconciliation so that employees’ personal tax filings can be cross-checked. Alongside this, employees should each be given a withholding tax certificate (sometimes called “50 bis” form) by end of January or February, so they have proof of tax withheld to file their personal tax returns (due by end of March). Failing to file the PND.1 Kor can result in penalties similar to regular PND filings. It’s an often overlooked requirement by new companies – even if you only had one employee (or director) with salary, you need to file the annual summary.
• Workmen’s Compensation Fund report: One more annual duty for employers is the workmen’s compensation fund (different from social security). Companies must report wages and pay an annual premium for this insurance fund, usually due in January each year for the previous year’s wages. The form is commonly called Kor Tor 20. The rate varies by industry risk (0.2–1.0% of wages). While not a tax, it’s a legal requirement under the Labor Protection Act. Missing the deadline can lead to a surcharge (often 2% per month, similar to SSO rules). Ensure your accounting or HR provider files this on time to avoid any issues with the Labor Ministry.

Staying on top of these annual deadlines is just as important as the monthly ones. The DBD and Revenue Department communicate, and a lapse in one area can flag your company in another. For instance, you cannot renew a business visa or work permit if your company has failed to submit its financial statements or pay its taxes – more on that in the next section.

Work Permit Renewals and Visa Dependencies

One often underestimated aspect of compliance is how it affects foreign work permits and visas. If you (or your foreign staff) hold Thai work permits and one-year business visa extensions sponsored by the company, Thai authorities expect the company to be in good legal standing. Each year when you apply to renew a work permit and extend a visa, immigration and labor officials will ask for proof that the company is active and compliant.

Key linkages include:

• Tax payment records: Immigration typically requires copies of the company’s latest corporate tax filings (PND.50) and evidence of tax payment (the official receipt) when processing a one-year extension of a Non-Immigrant “B” visa. You’ll be asked to provide certified true copies of the latest balance sheet, income statement, and the corporate tax receipt (Por Ngor Dor 50 receipt). This means that if you failed to complete your audit or file taxes for last year, you might not be able to renew the foreign director’s visa – a serious consequence. Ensuring your annual audit and tax filing is done on time essentially provides the paperwork you’ll need for the visa renewal application.
• Financial statements: Immigration may also require the signed audited financial statements themselves (or a summary) as part of the visa extension package. This is to confirm the company’s financial standing (for example, that it has revenue, or at least capital in the bank). A company that hasn’t finalized its accounts might raise red flags. The Ministry of Labor, which oversees work permits, similarly wants to see that the company has been maintaining proper records.
• Social Security compliance: When renewing work permits, the Department of Employment often checks that the company meets the required Thai-to-foreigner employment ratio (typically 4 Thai employees per work permit for standard businesses). One way they verify this is by looking at Social Security filings to ensure those Thai employees are real and their contributions are paid. If your company skipped SSO payments or removed Thai staff, your work permit quota could be in jeopardy. Always keep the minimum Thai staff employed and paid per the rules, or you risk losing the work permit eligibility for foreigners.
• Company registration and shareholder records: Visa extensions also ask for up-to-date corporate documents like the DBD-issued company affidavit, list of shareholders, and VAT registration certificate. These must be current (not expired) and will implicitly reflect if the company has been keeping up with filings. For example, the DBD share register (Bor.Or.Jor.5) you submit after each AGM results in an updated shareholder list document. If you haven’t filed one recently, the list immigration has on file might be outdated – another signal of non-compliance. Always renew your DBD documents annually and have certified copies ready for visa renewals.

Thai Company Compliance?
Clean Books = Fewer Problems Later.

Most founder issues aren’t “legal” issues — they’re paper trail issues: late filings, weak invoices, payroll shortcuts, or VAT/WHT done wrong. That’s what breaks banking, audits, and work permit renewals.

• Accounting & monthly close: consistent records that match reality
• Tax basics: VAT/WHT/CIT, filing cadence, common failure points
• Payroll & SSO: compliant staffing trail that supports renewals

Start with city + your company stage so we route you to the right accounting/compliance specialist.

In summary, your personal legal status in Thailand (via visa and work permit) is tied to the health of your company’s compliance. Missing a tax or accounting deadline doesn’t just bring fines; it could directly impact your ability to legally live and work in Thailand. Think of it this way: the company must “earn” the right to sponsor foreign visas by being a good corporate citizen. Thai immigration explicitly asks for “company tax returns and financial statements” as part of the one-year extension process. They want to see that the business is real, solvent, and following the rules – not just on paper at registration time, but every year thereafter.

What are the Penalties for Non-Compliance in Thailand?

Thailand imposes a range of penalties for late filings or non-compliance, designed to enforce timely submission of taxes and reports. These penalties come in two flavors: fixed fines (often per form or per day late) and surcharges/interest (usually a percentage of any tax owed). Below, we break down the major penalties for each compliance area:

• Withholding Tax (PND.1, 3, 53): Late filing of monthly withholding returns carries a modest fixed fine – typically THB 200 per form. This means if you forget to file one month’s PND.3, you owe 200 baht as a fine (even if the withheld tax amount was small). Additionally, any tax that was supposed to be remitted will accrue a 1.5% per month surcharge until paid. For example, if you withheld THB 10,000 from a payment but paid it 2 months late, about 3% interest (1.5% × 2) = THB 300 surcharge is added. Note that the surcharge is capped at the amount of tax due – it won’t exceed the principal tax amount. There is no daily fine on top of the 200 THB; 200 is the one-time fine per late return, which is quite low. However, if the Revenue Department finds you completely failed to withhold when you should have, they can impose a penalty equal to the amount of tax unwithheld (100%) or even 1–2 times the tax in cases of evasion, plus surcharges. In routine practice though, companies rarely intend to evade – most late filings are oversights, penalized by the 200 THB + interest.
• Value-Added Tax (PP.30): VAT has some of the steepest routine penalties due to the larger amounts often involved. If a monthly VAT return is filed late, the immediate late filing fine is THB 300 (if within 7 days of deadline) or THB 500 (if more than 7 days late). Then, depending on how late the actual tax payment is, there’s a penalty of 2% to 20% of the tax amount:

• Corporate Income Tax (PND.50 and PND.51): The annual return (PND.50) carries a late filing fine of up to THB 2,000 (courts often levy THB 1,000 if just a few days late, THB 2,000 beyond a week). If filed over 7 days late, an additional criminal fine up to THB 4,000 is technically possible, but in practice THB 2,000 is standard maximum for late filing. More critically, any underpaid tax is hit with the 1.5% per month surcharge interest. If you simply didn’t file at all and the Revenue Dept discovers it, they can impose tax assessments with penalties up to 100% of the tax due (doubling to 200% if intent to evade is proven) – heavy punishment for willful non-filing. For the half-year return (PND.51), late filing fines are a bit lower (THB 1,000 to THB 2,000), but as mentioned, underestimating your profit beyond the allowed threshold triggers a 20% surtax on the underpaid portiona. Always file PND.51 even if you project a loss (you can file a nil return), to avoid a late fine. If you file PND.51 on time and pay a decent estimate, there’s no surcharge even if you later owe more at year-end (unless you underpaid by more than 25% of actual, invoking the 20% penalty).
• Social Security Contributions: Late SSO payments incur a surcharge of 2% per month on the contribution amount due. For example, a THB 5,000 contribution 2 months late gets a 4% (THB 200) surcharge. While this seems smaller than tax interest, the SSO takes compliance seriously – chronic late payment can affect your employees’ benefits (e.g. if an employee needs to claim unemployment or medical benefits, the SSO will check if contributions were made). It’s also worth noting that the SSO (as of 2024) reduced its surcharge rate to 2% per month, which is lower than some older sources that cite 5% – in any case, timely payment avoids any extra cost.
• Annual Audit and Financial Statement Filing: Penalties here fall under the DBD (Ministry of Commerce) jurisdiction. They may seem mild in baht figures but can have cumulative consequences. The DBD can fine a company THB 1,000 for not submitting financial statements on time, plus another THB 1,000 fine on the Managing Director or responsible person if within the first 2 months overdue. If 2–4 months late, this rises to THB 4,000 each on company and director. Beyond 4 months late, THB 6,000 each. These are usually one-time fines (not per day), but the DBD could pursue further action if a company ignores filings entirely. Additionally, failing to hold the AGM within 4 months carries a fine of up to THB 6,000 on the company and directors. While THB 6,000 may not break the bank, consider the ripple effects: a company that doesn’t submit an AGM report or financials is flagged as not in good standing. If three consecutive years of financial statements are not submitted, the DBD will presume the company is defunct and can move to strike it off the register. In 2024, the DBD identified thousands of companies that hadn’t filed for 3+ years and initiated procedures to dissolve thems. Once struck off, the company loses legal status – its business license is gone and any visas/work permits under it become invalid. Reinstating a dissolved company is possible but involves a court process and significant cost. So, missing an audit is far from trivial; it’s a compounding risk that can ultimately end your business.

To recap these penalties in a digestible format, see the table below:

As you can see, Thailand’s compliance penalties, while not exorbitant individually, add up quickly and can cause cascading problems. A few hundred baht fine might not hurt, but interest on large tax amounts can cost thousands, and repeated lapses can even cost your entire business (through dissolution or loss of foreign workforce permissions). This is why many foreign directors treat a monthly compliance service fee as a form of cheap insurance – it virtually guarantees you never face these penalties.

Penalties for late compliance in Thailand escalate with time and intent. For instance, failing to file a tax return on time might incur a modest fixed fine (e.g. ฿200 for a late withholding form), but any unpaid tax accrues 1.5% interest per month until settled. Major defaults, like neglecting three years of financial statements, can lead authorities to strike your company off the registry. Figure: Examples of Thai compliance penalties and surcharges for late filing.

Benefits of Professional Compliance Support (฿10k/Month as “Insurance”)

Staying compliant in Thailand involves many moving parts – multiple filings across different government departments, in Thai language, on a frequent basis. It’s a lot for a small business owner to handle alone, especially if you’re new to the Thai system. That’s where licensed accounting and compliance service providers come in. For a typical fee of around ฿10,000 per month, a full-service firm will essentially take care of all the duties we’ve outlined – ensuring you never miss a deadline and dramatically reducing your risk of penalties or administrative headaches.

In essence, a good provider makes those five compliance steps we’ve discussed frictionless. You get peace of mind that professionals (who stay current on Thai law changes) have your back. This is especially valuable for foreigners, as Thai compliance has nuances that may not exist in your home country (for example, the need to withhold tax on various payments, or hold formal AGMs). By outsourcing, you convert a complex, risk-prone process into a simple monthly report & approval. Many founders prefer to focus on growing the business – acquiring customers, building product – rather than mastering tax filing minutiae.

That said, this isn’t an advertisement to oversell services. Some very small companies or those with virtually no activity do handle compliance themselves initially. It is possible – Thailand’s Revenue Department even offers an English-language e-filing portal now for some forms, and the government offices can be navigated with patience. However, the moment your transactions grow or you employ people (especially local staff or multiple foreigners), the compliance burden multiplies. Engaging a reputable accounting firm is about risk management and convenience. For roughly the cost of a daily cup of coffee in Bangkok (when measured per day), you eliminate the worry of “Did I miss a deadline? Did I calculate that tax right? What happens if an officer calls?”. As we’ve shown with the penalties, one mistake can cost more than a year of service fees, not to mention intangible costs like business disruption or visa troubles.

TTA Compliance Brief

Accounting & Compliance for Thai Companies: Your Real FAQs

Based on real scenarios faced by foreign directors in Thailand. These are the critical answers, stripped of fluff — fast when you need it, detailed when it matters.

What happens if I miss the deadline for my annual audit or corporate filings?

Quick Reply Expert Breakdown

Fines first. Visa issues next. Legal strike-off if ignored.

Missing the annual audit/filing deadlines can lead to fines and even jeopardise your company’s legal status. Initially, the Department of Business Development (DBD) will fine the company and its directors (up to THB 6,000 each) for late financial statement submission or not holding the AGM on time. If you continue to delay, the company may be marked as not up-to-date. Critically, if you fail to submit financial statements for 3 consecutive years, the DBD can strike your company off the register as “defunct.” In 2024, over 8,000 companies that hadn’t filed for 3+ years were flagged for removal. Being struck off means your company ceases to exist legally – its business license is gone. You would need a court petition to reinstate it, which is costly and time-consuming (and during that time, you cannot legally operate or sell assets). Additionally, while your company is non-compliant, you risk the inability to renew visas/work permits for foreign staff, since authorities will see no recent financials or tax payments. In short, missing an audit or filing is serious: expect late fees at best, and business dissolution at worst if unaddressed. Always communicate with your auditor or accountant early if you think you might miss a deadline – sometimes you can obtain a short extension or at least mitigate penalties by proactive disclosure.

Is VAT registration required if my company earns under THB 1.8 million?

Quick Reply Expert Breakdown

No — unless you opt in for strategic reasons.

No, companies earning below THB 1.8 million per year are not required to register for VAT under Thai law. The THB 1.8M threshold (approximately USD 50k) is the point at which you become a “taxable person” for VAT and must register within 30 days of the month you cross that threshold. If you never exceed it, you remain exempt from VAT obligations – you won’t charge VAT on your sales, but you also cannot claim VAT on your purchases. Many small businesses stay out of VAT to avoid the paperwork. However, you may voluntarily register for VAT even below the threshold if there’s a business reason (for example, if all your clients are VAT-registered and expect VAT invoices, or you want to claim input VAT credits on major purchases). Once registered, you must comply with monthly VAT filings regardless of revenue. So, it’s often wise for very small or new businesses to hold off on VAT until required. Keep in mind the government sometimes considers lowering the threshold (there have been talks of reducing it to broaden the tax base), but as of the latest rules, THB 1.8M/year remains the magic number. Always monitor your sales – if it looks like you’ll hit that in a given year, plan to register for VAT in advance to stay compliant.

Do even small or inactive companies need audited financial statements?

Quick Reply Expert Breakdown

Yes. Even zero-income companies must audit.

Yes. All limited companies in Thailand must prepare annual financial statements and have them audited by a Thai CPA, even if the company is small or had little activity. The only minor exceptions are certain forms of partnerships under specific size thresholds, but any private or public limited company is obligated to file audited accounts. This means that even a “dormant” company (with no trading activity) must still submit a balance sheet and income statement for the year – often with zeros – signed off by an auditor. The audit process for a no-activity company is very straightforward (and typically, auditors charge a low fee for that), but it’s not waived. Not filing because “we didn’t operate” is not accepted – you’d still breach the law and incur penalties. If your company truly has no plans to operate, you should either maintain it properly each year or formally close it down; ignoring compliance will lead to strike-off after 3 years of no filings. On the flip side, if you have just low volume of business, you still need an audit, but you can look for audit firms that cater to SMEs to keep the costs reasonable. Compliance is a yearly fixed cost of having a Thai company, irrespective of size.

Our startup is pre-revenue. Do we still need to file all these taxes every month?

Quick Reply Expert Breakdown

Yes — typically nil filings unless you’ve hired or started billing.

Generally, yes. Even if you have no revenue yet, your company likely still has monthly compliance tasks – albeit filing “nil” returns. For example, if you have no employees and no payments that require withholding, you might skip PND.1 or PND.3 filings (since there’s nothing to report). But if you have even one employee (say a foreign director drawing a token salary), you must file PND.1 each month for that salary’s withholding, even if the tax amount is zero (low salary might be under personal allowance, but you still file). VAT: if you haven’t registered for VAT (and pre-revenue typically, you wouldn’t until you near THB 1.8M sales), then you have no VAT returns – that’s one compliance item you avoid until you have revenue. Corporate income tax: Thailand doesn’t have a concept of “no activity, no filing” – you still have to file the annual PND.50 return even if revenue is zero (you’ll just show losses or expenses only). The mid-year PND.51 is required if you expect a profit; if you truly have zero revenue and expect a loss, you technically might not be required to file PND.51 (it’s for paying advance tax on profits), but many companies file nil PND.51 just to be safe. Social Security: if you have no employees, you don’t register for SSO and have no monthly SSO filings. Workmen’s comp: similarly, no employees means no contribution. In summary, a pre-revenue company with no employees has minimal filings (mostly the annual return and maybe signing off “no activity” financials with an auditor). But the moment you have employees or start generating any income, all the standard filings kick in. It’s wise even in pre-revenue phase to engage an accountant to double-check if you truly have “nothing to file” each cycle – sometimes there are obligations even for zero-income situations (for example, a common one: new companies must file a mid-year PND.51 in their first year if they anticipate any profit – many startups forget if they made some service income in month 5 or 6). When in doubt, file a nil return – it avoids any question of non-compliance.

Can I handle Thai accounting and taxes myself as a foreign director?

Quick Reply Expert Breakdown

Legally possible — but practically complex. You’ll still need a Thai CPA.

It’s legally possible to a large extent, but it’s challenging in practice. Many foreign SME owners do try to handle some compliance themselves initially – especially if they have a finance background. Thailand’s Revenue Department has improved accessibility with some English-language resources, and e-filing means you don’t have to physically visit the tax office each month. However, you should be aware of a few things:

Language & Forms:Most official forms and online systems are in Thai. The e-filing website has English menus, but the underlying forms (like PND.50, PND.51) are basically the Thai forms. You might need help translating line items to ensure correct input.

Technical Accounting Knowledge:Technical Accounting Knowledge: Thai accounting and tax rules have quirks. For example, certain expenses are not tax-deductible under Thai law (they must be added back on the tax return). If you’re doing the annual return solo, you must know these rules to avoid underpaying tax. Similarly, the new transfer pricing disclosure (if applicable to larger firms) or specific tax incentives require local knowledge.

Need for Licensed Professionals:While you can handle bookkeeping and form preparation, only a licensed Thai auditor can sign the audited financial statements, and if you use an accountant to file taxes, technically, they should be a registered tax preparer. You’ll inevitably need to hire an auditor – you can’t fully DIY an audit. So at minimum, you’ll collaborate with a CPA for year-end. Also, if you’re not a Thai CPA yourself, you can’t formally submit the audited accounts to DBD without that auditor’s signature.

Time and Opportunity Cost:Doing it yourself might save money, but it consumes your time (and possibly nerves). The question is whether that time is better spent growing your business. Most founders find that as soon as they can afford it, outsourcing compliance pays off in the long run, because mistakes or missed opportunities (e.g. a tax deduction you didn’t know about) can cost more.

In short, yes, you can attempt DIY, but go in with eyes open. Perhaps a hybrid approach works for some: handle basic bookkeeping in-house with software, but hire a professional to review and do the actual filings/audit. This way, you learn about your company’s finances without risking a compliance error. Just remember that Thai bureaucracy can be unforgiving to well-meaning newcomers – a missed form is a missed form, regardless of intent. If you choose DIY, make a compliance calendar and double-check requirements with official sources or a consultant. And don’t hesitate to switch to a provider as your business (and paperwork) grows.

Thai Company Compliance?
Clean Books = Fewer Problems Later.

Most founder issues aren’t “legal” issues — they’re paper trail issues: late filings, weak invoices, payroll shortcuts, or VAT/WHT done wrong. That’s what breaks banking, audits, and work permit renewals.

• Accounting & monthly close: consistent records that match reality
• Tax basics: VAT/WHT/CIT, filing cadence, common failure points
• Payroll & SSO: compliant staffing trail that supports renewals

Start with city + your company stage so we route you to the right accounting/compliance specialist.

Next Steps: Compliance may not be the most glamorous part of running a business, but in Thailand, it’s absolutely the bedrock that supports everything else – your legal right to operate, to employ foreigners, to receive tax incentives, and to avoid disputes. With this fifth article, we’ve completed our journey through the major steps of starting and operating a company in Thailand. From initial company setup (read Article: Thai Company Registration for a refresher on how it all began) to visas and permits and ongoing accounting, it’s clear that having the right partner makes all 5 steps frictionless. When you collaborate with experienced local experts at each stage, you sidestep pitfalls and can focus on building your venture with confidence. We hope this series has empowered you with knowledge and a high-level roadmap. Thailand offers immense opportunity for foreign entrepreneurs – and by staying compliant, you ensure that opportunity can be fully realised, year after year, without unnecessary interruptions. Here’s to your success in the Land of Smiles, powered by sound compliance and a trusted support system!