Happy New Year from B-Accounting!

by Vincent / 2019-04-03 / Published in B-Accounting, Blog
Post Image

Another year has begun and we want to wish everyone a Happy New Year! We also want everyone to start their year with their best foot forward. The start of each new year brings a new set of challenges, goals and visions for the future. That’s one of the best things about owning a business. 

 

However, while a new year means fresh chances and excitement, it also means staying current and informed about how to manage taxes and reports properly.

 

Step 1:

Compliance with the Thai Revenue Department is very simple. It begins with an Ordinary General Meeting that must occur within 120 days maximum after the closing date of the fiscal year, where the externally audited annual report is reviewed and approved. 

 

Step 2:
Next, auditors and accountants will audit financial statements and file for the Corporate Income Tax, the money due to the government based on the profits you’ve earned. These statements and associated taxes are due to the Revenue Department within 150 days after the end of the fiscal year.


Step 3:
Lastly, send the financial statements to the Department of Business Development within 30 days after the 120 day deadline set by the Revenue Department.  No additional funds need to be paid to the Ministry of Commerce, but they need copies of the reports for their own records.


Keep in mind: even if you aren’t responsible for a business, your personal earnings are subject to taxation. Therefore, we highly recommend a Personal Income Tax report (PND-91) should be filed as well.

 

Need Help/Have Questions?

This can often be a difficult and confusing time of the year. B-Accounting will help you take care of all your tax issues. We go beyond the numbers and take away your pain. Call us on +66 02 234 4889 (Thai and English) or check out our new website at www.b-accounting.com 

 

Offering Accounting services in thailand , go beyond the numbers or website, and take away your pain.

 

Tagged under: ,
TOP