Your Business in Thailand Must Follow Thai Accounting Standards
The Federation of Accounting Professions (FAP) issues Thai Accounting Standards (TAS). It is a set of accounting principles and guidelines for all businesses in Thailand, be it local or foreign. The TAS establishes the framework and requirements for the preparation and presentation of financial statements. The primary objective of the TAS is to ensure the […]
Benefits of Accounting Services in Thailand for Foreigners
Thailand has always been a great hub of investment and starting business ventures for foreign investors. The Board of Investment of Thailand in collaboration with the Revenue Department frequently comes up with investor-friendly policies. This helps in easing out the process of business registration and operation of foreign companies in Thailand. However, this never curtails […]
How to Hire the Best Bookkeeping Service in Thailand?
Bookkeeping is very necessary if you want to track the growth of your business and have a seamless accounting process. If your business is small, you can have an in-house bookkeeping and accounting team. But for medium-scale or enterprise-level businesses, you should outsource the same to the best agencies. However, you must know the process […]
How to Hire the Best Accountants in Thailand?
Are you planning to hire the best accountants in Thailand? Then there are many checkpoints that you have to pass through to make the proper selection. Accountants provide a range of services. They help your business stay compliant with Thai corporate laws and steer clear of tax blunders. Additionally, they can facilitate the numerous legal […]
How to Select a Best Accounting Service in Bangkok?
All firms in Thailand are required to submit annual financial reports by the government. Businesses also select the auditor to review all of the financial records. Although the auditor and accountant in Bangkok often operate together, some may also work alone. If the auditor discovers that an unqualified accountant wrote the financial statement, they frequently […]
What is Statutory Audit in Thailand?
Audits which are strictly in compliance with Thai Auditing Standards are Statutory Audit in Thailand. It is mandatory for both Thai and Foreign businesses earning profit in Thailand to go for this audit. In Thailand, qualified experts execute the functions of Statutory Auditors for companies with headquarters elsewhere. These experts must be Certified Public Accountants […]
Annual Audit in Thailand for Foreigners
All legal entities, partnerships, foreign company branches, and joint ventures in Thailand are required to prepare financial statements for each accounting period. For the best information and support on Annual Audit in Thailand, read through this article carefully. With the exception of a registered partnership under Thai law, whose total capital, assets, and revenue are […]
Transfer Pricing in Thailand enters New Phase in 2022
The London Interbank Offered Rate (LIBOR) is the most popular interest rate benchmark. LIBOR facilitates establishing interest rates for various financial instruments, including intercompany financing transactions. LIBOR is a term-based rate with several maturity periods. The periods can be overnight, weekly, one month, three months, six months, and twelve months. LIBOR will be phased out […]
Tax Relaxation for Foreign Professionals in Thailand
Relieving news for Foreign Professionals in Thailand – they are eligible for a tax waiver on their income. Foreign professionals will receive 17% Personal Income Tax relaxation this fiscal year. Owing to the highly uncertain and stressful tenure of COVID-19 lockdown, human life across the world came to a standstill. Moreover, similar stagnant was the […]
How to Select the Right Accounting Service in Thailand?
The Thai government requires all enterprises to produce financial reports on a yearly basis. Companies are also required to have their financial statements audited. While most auditors and accountants in Thailand collaborate, some work on their own. In addition, auditors may refuse to audit a company if the financial statements are prepared by unqualified accountants. […]
