Bookkeeping and Accounting Services
At Attori Law we provide both accounting and bookkeeping services to suit your business needs. We also provide payroll solutions for personal income tax for employees. Whatever you business needs, we have flexible options to suit you.
Bookkeeping
Bookkeeping is the process of systematically recording financial transactions. Our Bookkeeping services consist of recording daily financial activities, including sales, purchases, receipts, and payments. We ensure that the financial records are accurate, complete, and up-to-date for easy access by accountants and stakeholders.
Accounting
Our accounting service is broader than our Bookkeeping service and involves analyzing, interpreting, and reporting on the financial data recorded by bookkeepers. We use the financial records to prepare financial statements, perform audits, create budgets, and provide insights for strategic decisions. The accountant will paint a comprehensive picture of the company’s financial health and supports decision-making and planning.
What does your accounting service provide?
Because all businesses are different, our services are flexible. Our accountants will discuss your specific business needs and design a package specifically for you. We will help you stay financially organised, compliant and save you money.
Corporate Income Tax (CIT)
Tax rate: 20% for most companies, however rate will vary depending on specific licenses, yearly profit thresholds, capital invested among other factors.
Filing Frequency: Annually, with an advance half-year tax filing.
Forms:
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- PND 50: Annual tax return, filed within 150 days of the fiscal year-end.
- PND 51: Half-year tax return, due within two months after the first six months of the fiscal year.
Value-Added Tax (VAT)
- Tax Rate: Currently 7%.
- Eligibility: Required for businesses with an annual turnover exceeding THB 1.8 million or businesses that employ foreigners.
- Filing Frequency: Monthly.
- Form: PP 30 must be filed by the 15th of the following month.
Extra consideration:
PP 36: Filed by businesses that are liable for self-assessed VAT. This applies to transactions where services are provided by foreign suppliers who aren’t registered in Thailand. The form helps the business comply with VAT obligations on cross-border services.
Withholding Tax (WHT)
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- Tax Rates: Rates vary depending on the type of payment and the residency of the recipient, generally between 1% and 15%.
- Applicable Payments: Withholding tax applies to certain payments, such as services, rent, dividends, and royalties.
- Filing Frequency: Monthly, on or before the 7th day of the following month.
- Forms:
- PND 1: For salaries.
- PND 2: Used for reporting taxes withheld on interest income paid to individuals.
- PND 3: For payments to individuals.
- PND 53: For payments to Thai companies.
- PND 54: Used to report taxes withheld on payments made to non-residents, such as fees for services rendered abroad.
Specific Business Tax (SBT)
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- Tax Rate: Ranges from 0.1% to 3.0%, depending on the type of business (e.g., banking, finance, insurance).
- Eligibility: Required for businesses engaged in specific industries not subject to VAT.
- Filing Frequency: Monthly, by the 15th of the following month.
- Form: PT 40.
Personal Income Tax (PIT) on Employee Payroll
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- Tax Rate: Variable based on income.
- Withholding: Businesses must withhold and remit PIT for employees based on the progressive income tax rate.
- Filing Frequency and Forms: Monthly, through PND 1 and annually, with PND 91 for each employee.
- Tax Rate: Variable based on income.
Social Security Contributions
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- Tax Rate: Currently, employers contribute 5% of employees’ salaries (subject to capped income levels).
- Filing Frequency: Monthly, due by the 15th of the following month.
- Form: SorPorSor 1-10.
EOY Audit
- Purpose: All registered businesses are required to prepare audited financial statements. These statements provide a complete picture of the company’s financial health and are filed with the Department of Business Development (DBD).
- Filing Deadline: Submitted to the DBD within 150 days of the fiscal year-end.
Free Consultation
Accounting Services and Tax
Bookkeeping
Monthly account keeping and filing. Tracking invoices, payments, receipts, payroll.
Monthly Tax Submission
Preparing and filing VAT (PP30) PND 90/91 PND 53 PND1 and other related taxes.
Annual Report
Auditing and submission of financial statement to the Ministry of Commerce (SorBorChor. 3)
Vat Registration
Business Value added Tax registration and processing.
Corporate Tax (CIT)
Mid-year corporate income tax (PND. 51) and year-end corporate income tax (PND 50) preparation and filing.
Tax ID
Application Tax ID number for business and personal.
PErsonal Income Tax (PIT)
Preparing and submit annual employee withholding tax (PND. 1 Kor) PND3 PND53
Social Security
Register company and staff to social security office. Monthly payment processing.
Advisory
Providing advice on accounting-tax in Thailand.
Not sure where to start? Contact us for a free consultation
Frequently Asked Questions (FAQs)
What kind of accounting package should I choose for my business?
We offer customized accounting packages based on your specific needs, whether you require basic bookkeeping or more comprehensive financial management. Our services are designed to keep your business compliant, efficient, and financially organized, enabling you to focus on growing your business.
What should I do if my business receives a tax audit notice?
If you receive a tax audit notice, we can help you gather all the required documents, review your records, and assist in responding to any inquiries from tax authorities. Our team ensures that your business remains compliant with tax regulations and avoids penalties.
What should I do if my business has complex accounting needs?
If your business has complex accounting requirements, we provide tailored solutions to address the intricacies of your financial structure. Our services cover everything from managing multi-currency transactions to preparing detailed financial reports, ensuring your business stays compliant and financially organized.
Can you help with budgeting and forecasting for my business?
Yes, we offer budgeting and financial forecasting services to help your business plan for the future. These services are critical in maintaining financial stability, improving cash flow management, and setting realistic goals. We work closely with you to ensure your financial projections align with your business strategy.
Can you assist with end-of-year audits?
Our team is well-versed in conducting end-of-year audits to verify the accuracy of your financial records. We ensure your company’s books are in order, compliant with regulations, and ready for submission to authorities. This process minimizes the risk of errors and helps you meet all reporting requirements.
