Accounting & tax compliance services.
We offer flexible accounting packages adapted to specific requirements of our clients. The costs are dependent on the size and natures of client’s company, the volume of monthly turnover and number of transactions to be recorded per month.
Comprehensive Monthly Accounting Services
1. Tax Management and Filings.
Corporate Withholding Tax Returns (Forms PND 1, PND 3, PND 53, PND 54):
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Accurate filing of withholding tax on various income types including employment income, dividends, interest, royalties, and fees for technical services.
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Preparation and submission of the required withholding tax return forms.
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Timely remittance of tax payments to the Revenue Department, within the 7th day of the following month.
Value Added Tax (VAT) Returns (Form Por Por 30):
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Monthly computation of input and output VAT to determine net VAT payable or refundable.
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Preparation and submission of VAT return forms.
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Timely payment of VAT to the Revenue Department by the 15th of the following month.
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Maintenance of detailed records of VAT input and output for compliance and audit purposes.
2. Social Security Fund Compliance (Forms Sor Por Sor 1–10):
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Monthly calculation and remittance of social security contributions based on employees’ salaries.
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Submission of annual fund contribution reports as required by law.
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Timely payments to the Social Security Office by the 25th of the following month.
3. Bookkeeping and Financial Reporting
Preparation of Monthly Financial Statements:
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Profit and Loss Statement: A comprehensive summary of monthly revenues and expenses.
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Balance Sheet: A snapshot of the company’s financial position including assets, liabilities, and equity.
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Trial Balance: A verification tool to ensure accuracy of account balances.
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General Ledger: A complete and organized record of all accounting transactions.
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Bank Reconciliation: Regular reconciliation of bank statements with company accounts to ensure financial accuracy.
Payroll Services
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Comprehensive payroll processing that includes the accurate calculation of withholding income tax, social security contributions, employee deductions, statutory allowances, and fringe benefits.
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Preparation and issuance of detailed monthly carbon copy payslips.
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Generation of payroll summary reports for submission to your designated bank.
Cash Management
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Efficient handling of payments and collections on behalf of the client, including transactions with suppliers and customers.
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All disbursements are executed only after receiving your explicit approval.
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A comprehensive cashflow report is provided for full transparency.
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Our process ensures efficiency, speed, and security.
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Professional preparation and issuance of essential financial and accounting documents, including:
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Invoices and tax invoices.
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Withholding tax certificates.
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Payment vouchers.
Annual auditing & reporting services.
Annual corporate tax return (Annual audit, PND 50)
This return must be filed within 150 days from the closing of accounting period (balance sheet date). Preparation and filing of Summary Financial Report form (SBC 3), Summary of annual salary (PND 1 Kor), workmen’s compensation, and Corporate income tax returns (PND 50) to Revenue Department, Social Fund Office, and Department of Business Development.
Personal income tax return (PND 90, 91, 94)
Taxpayer is liable to file personal income tax return and make a payment to the Revenue Department within the last day of March following the taxable year. Any withholding tax which has been paid to the Revenue Department can be used as a credit against the tax liability at the end of the year.
Half-year corporate earnings assessment (PND 51)
The half-year report must be filed within sixty days from the end of half year period. The taxable income is computed on one-half of the estimate profit for the full year. However, this return is not required for the first accounting period of the company providing.
Annual withholding tax returns for wages to employees (PND 1 Kor)
This form sets out the summary details of employment, namely wage payments and tax withholding of the whole year and it must be reported to Revenue Department within February of the following year.
Cash management (Escrow account)
Form “Kor Tor 26 Kor” is the form that the Social Security Office estimates the amount of Workmen’s Compensation Fund contribution for the next year for your company to pay. It is estimated from previous year salaries that the official has seen from the Social Security form filed monthly throughout the whole year. In this form, it says the amount you have to pay for the fund of the present year. The payment must be made to the Social Security Office within January.
Form “Kor Tor 20 Kor” which appears on the same paper under Form Kor Tor 26, is for the company to fill out the total figure of previous year payroll. This form is to be compared and corrected with the amount you paid in Form “Kor Tor 26 Kor” of the previous year and make you pay the difference within the end of February (in case you paid too little in previous year) or give you the refund (if you paid too much in previous year).
GET IN TOUCH
Contact Us:
139 Pan Rd, Si Lom, Bang Rak, Bangkok 10500
Email: info@thailawaccounting.com
Tel: +66928811963
Whatsapp: +66928811963