The company secretary is required to prepare a balance sheet containing a summary of the company’s assets and liabilities, and a profit and loss account for each fiscal year. Then, a certified auditor must audit the balance sheet and authorize it at the AGM. The company shall file the balance sheet with the Ministry of Commerce within one month of the AGM’s date and Form Sor Bor Chor 3.
This is the semi-annual corporate income tax which needs to be filed as the title suggests, on a semi-annual basis. If you are interested in having more information, we invite you to consult our accounting page.
The company secretary shall file a list of shareholders as of the AGM’s date with the Ministry of Commerce quarterly, and no later than on the fourteenth day following the AGM.
Any individual or company that provides products or services in Thailand regularly and has a yearly turnover of more than 1.8 million baht is subject to VAT in Thailand. Service shall be considered to be offered in Thailand if the service is carried out in Thailand irrespective of where it is used or whether it is carried out elsewhere and used in Thailand.
An employer with one or more workers is subject to the Social Security Legislation and must make a request (Sor.Por.Sor Form 1-01/1-03) within 30 days from the first employee’s hiring. The legislation allows both the employer and the employee to pay equal to the Office of Social Security by filing Form Sor. Por. Sor 1/10/10/10/1 at the rate stated in the Royal Decree, which currently represents 5 percent of the employee’s wages (subject to a limit of Baht 1,500 per month). Therefore, 5 percent contribution payments from the employer and 5 percent from the employee must be charged to the Social Security Fund by the fifteenth day of the month after the deduction date.