Outsourcing Thai Company Accounting & Tax: Choosing a Firm, Fees, Monthly/Annual Process & Pitfalls

Why a company must keep books from day one

• File even with zero revenue: a Thai company must file nil returns monthly and produce audited annual statements even with no trading, or penalties and surcharges pile up
• It's a legal duty: bookkeeping, VAT, withholding tax, social security and audit are part of ongoing compliance — see the monthly compliance guide
• Foreigners almost always outsource: Thai-language books, tax forms and audits are demanding, so most foreign owners hand this to a local accounting firm

What outsourcing usually includes

• Monthly bookkeeping: voucher entry, general ledger, reconciliations
• Monthly tax filing: VAT (PP.30, if VAT-registered) and withholding-tax filing (PND.3/53)
• Social security: filing and paying employee social security (SSO)
• Annual work: preparing financial statements, arranging a licensed audit, the annual corporate income-tax return (PND.50) and DBD/shareholder filings
• Personal-tax support: employee/director personal income-tax returns (PND.91/90) — details in the foreigner personal income-tax guide

How fees work and what to check

• Monthly bookkeeping fee: tiered by company size, monthly transactions, VAT registration and headcount — more transactions cost more
• Annual audit and filing fee: a separate line — confirm whether the monthly fee includes the audit; many low monthly fees exclude it and bill a lump sum at year-end
• Language premium: firms offering service and explanations in your language usually cost more
• Extras: catch-up bookkeeping, tax-audit support and special filings are billed separately
• Compare inclusions: don't just look at the monthly figure — check whether bookkeeping, all filings, social security, audit/annual return and personal tax are all included

How to choose a firm, and pitfalls

• Credentials and audit capacity: confirm they can produce compliant statements and engage a licensed auditor (the annual audit must be by one)
• Communication and responsiveness: whether they proactively flag deadlines and explain in a language you understand — vital for a long relationship
• Transparent pricing: monthly inclusions and the audit fee in writing, avoiding "low monthly fee, year-end surprise"
• Invoice discipline: keep tax invoices and vouchers as required — messy records raise costs and hurt deductions
• Don't believe "zero revenue, no filing": be wary of anyone claiming you can skip filing — the risk is yours

Frequently asked questions

Do I still file if the company has no business or revenue?

Yes. A Thai company incurs filing duties the moment it's registered, so even with no transactions or zero annual revenue you must file nil returns monthly (VAT, withholding tax as applicable), prepare audited financial statements annually, and submit the annual income-tax return and DBD filings. Not filing isn't an "automatic exemption" — it accumulates penalties and surcharges and can affect the company's standing and later dissolution. So even a temporarily dormant company must keep basic bookkeeping and filing, or pursue a formal dormancy/dissolution process, subject to current Revenue Department and DBD rules.

How much does outsourcing Thai company accounting cost?

There's no fixed price — it mainly depends on company size, monthly transaction volume, whether you're VAT-registered, headcount and whether you need service in your language. It's usually a monthly bookkeeping fee plus a separate annual audit/filing fee; small, low-transaction companies pay less monthly, while VAT-registered ones with staff pay more, and the audit is separate. The key is comparing inclusions — some quotes have a low monthly fee but exclude the audit and bill a lump sum at year-end, so confirm whether bookkeeping, all tax filings, social security, audit/annual return and personal tax are included and compare on total annual cost. Give a firm your details for an itemised quote.

How do I choose a reliable accounting firm?

Check a few things: first credentials and audit capacity — able to produce compliant statements and engage a licensed auditor (a Thai company's annual audit must be by one); second communication and responsiveness — they proactively flag filing deadlines and explain in a language you understand; third transparent pricing — monthly inclusions and the audit fee in writing, no low-fee bait then year-end surprise; fourth invoice/process discipline — they guide you to keep invoices and vouchers correctly. Don't pick the cheapest that can't produce compliant statements, and don't believe "zero revenue, no filing." Stable long-term compliance beats saving a little on the monthly fee, subject to current Revenue Department rules.

Need help?

Taihubang connects you with and advises on outsourced Thai company accounting and tax: monthly bookkeeping, VAT/withholding-tax/social-security filing, annual statements, audit and income-tax returns, and personal-tax support — matching you with a qualified firm that communicates in your language and quotes transparently, and explaining filing cadence and invoice discipline. We don't arrange under-reporting; everything follows current Revenue Department rules, verified with licensed accountants/auditors. See our accounting & tax service or submit an enquiry; an adviser replies within 24 hours.