The best accounting firm in Bangkok for a foreign-owned company whose directors do not read Thai lets the director check every Thai filing before signing it. That means an English summary of each return, English filing confirmations and one contact who answers in English. Price and brand matter less than whether the director can see, in English, what is filed under their name. This guide reflects what foreign directors ask for when they cannot read the Thai forms themselves.
Key takeaways
- Thai tax returns, Revenue Department letters and Department of Business Development (DBD) filings are commonly in Thai. The director who approves them stays accountable for their content.
- A suitable firm sends an English summary of each return before submission and an English note with each e-Filing receipt afterwards.
- Recurring filings include monthly VAT and withholding tax returns, a half-year corporate income tax estimate and an annual return due within 150 days of year-end.
- An independent Thai Certified Public Accountant (CPA) generally audits the annual financial statements. This auditor should be separate from the team that keeps the books.
- Putting accounting, payroll and company records with one provider reduces the number of Thai documents passed between separate firms.
About the Author
This guide was prepared by Settlr Global's accounting and tax team with Managing Director Gagan Ajmani, who has 15+ years of regional experience across Southeast Asia. The team handles bookkeeping, VAT, withholding tax and corporate income tax filings for foreign-owned and Thai-owned companies operating in Thailand.
Language as a control when choosing an accounting firm in Bangkok
The central risk for a director who does not read Thai is approving documents they cannot check. Thai tax forms, Revenue Department correspondence and the financial statements filed with the DBD are commonly prepared in Thai. The director's signature or e-Filing authorisation still goes on them.
A common founder thought is "The accountant files it, so the accountant is responsible." In practice, the company is the taxpayer.
A firm's English capability is best tested on its documents. Before engaging, ask for a sample English summary of a Thai VAT return and judge whether you could spot an error from it.
Thai filings for foreign-owned companies
A director who does not read Thai should know which Thai documents they will be asked to approve. According to the Revenue Department, foreign-owned companies file annual corporate income tax returns within 150 days of fiscal year-end, submit half-year tax estimates and file monthly VAT and withholding tax returns.11Revenue Department of Thailand: Corporate Income Taxrd.go.th
1Revenue Department of Thailand: Corporate Income Taxrd.go.th
| Filing | Form | Frequency | What the director should see in English |
|---|---|---|---|
| VAT return | PP.30 | Monthly, once VAT-registered | Output VAT, input VAT and net amount payable or refundable |
| Withholding tax on payments to individuals | PND.3 | Monthly, when such payments occur | Payees, amounts paid and tax withheld |
| Withholding tax on payments to companies | PND.53 | Monthly, when such payments occur | Supplier names, service type and tax withheld |
| Salary withholding | PND.1 | Monthly, with payroll | Gross pay and tax withheld per employee |
| Half-year corporate income tax | PND.51 | Once a year, after the first six months | Estimated annual profit and tax prepaid |
| Annual corporate income tax | PND.50 | Within 150 days of fiscal year-end | Taxable profit, adjustments and tax due |
| Audited financial statements | Filed with DBD and Revenue Department | Annually | Audit opinion and key notes |
According to the Revenue Department, the standard rate of corporate income tax in Thailand is 20 percent of net taxable profit.22Revenue Department of Thailand: Corporate Income Tax Ratesrd.go.th According to the Board of Investment, BOI-promoted companies may receive multi-year tax holidays. According to the Revenue Department's Tax for Small and Medium Enterprises33Revenue Department of Thailand: Tax for Small and Medium Enterprisesrd.go.th guide,3 companies with paid-up capital of 5 million baht or less and annual turnover of not more than 30 million baht may qualify for reduced rates on lower profit bands.
2Revenue Department of Thailand: Corporate Income Tax Ratesrd.go.th
3Revenue Department of Thailand: Tax for Small and Medium Enterprisesrd.go.th
According to the Revenue Department, VAT registration in Thailand generally becomes compulsory once revenue passes the 1.8 million baht annual threshold,44Revenue Department of Thailand: Value Added Taxrd.go.th so the firm should track turnover from the first month. Withholding tax in Thailand makes the company a collector of tax from its suppliers and staff, so errors there affect other people's tax records as well as the company's own.
4Revenue Department of Thailand: Value Added Taxrd.go.th
According to the Federation of Accounting Professions (TFRS for NPAEs (in Thai)55Federation of Accounting Professions: TFRS for NPAEs (in Thai)acpro-std.tfac.or.th),5 financial statements are generally prepared under Thai Financial Reporting Standards, with companies that have no public accountability able to apply the simplified version for Non-Publicly Accountable Entities. At onboarding, ask the firm to fill in this table with the company's own due dates. The Thailand Tax Calendar 2026 lists the recurring filing dates to check against.
5Federation of Accounting Professions: TFRS for NPAEs (in Thai)acpro-std.tfac.or.th
Questions to ask an accounting firm
A director can test each shortlisted firm against the same questions:
- Will you send an English summary of every Thai return before submission and wait for my approval?
- Who translates Revenue Department letters, and how soon will I hear about one?
- Can I view the ledger directly in Xero, QuickBooks or Zoho Books?
- Do monthly reports include a profit and loss statement, balance sheet and cash flow with written commentary?
- Will each e-Filing receipt come with an English note on what was filed and paid?
- Who is my single contact, and who covers when they are away?
- Which independent CPA audits the accounts, and how is the audit kept separate from bookkeeping?
With Settlr Global, for example, clients can keep their ledger in Xero, Zoho Books or QuickBooks and receive a monthly P&L, balance sheet and cash flow with management commentary. They can also track filings and deadlines on the client platform (see accounting and tax services). A firm that cannot give clear answers to the first two questions is likely to leave the director signing on trust, which is the risk this exercise is meant to remove.
The accounting handover process step by step
A company that already has a Thai accountant can switch to a new firm. A clean handover generally follows five steps:
- Step 1: The new firm gets read access to the ledger, bank statements and prior Thai filings.
- Step 2: Opening balances are reconciled against the last audited financial statements.
- Step 3: Filing status is checked with the Revenue Department, including any late or unpaid returns.
- Step 4: The next filing deadline is added to a shared calendar.
- Step 5: The outgoing provider is offboarded, records are collected and its e-Filing access is revoked.
Before giving notice, the director should ask the outgoing firm for a written list of open filings and outstanding balances, with an English translation, so that Step 3 starts from a known position. The harder question is how many separate firms should be reading Thai documents for the company. Each firm boundary is a place where a Thai document has to be re-explained to the director, often by someone who did not prepare it.
Keeping accounting, payroll and company registration together
Multiple firm handoffs create friction between accounting, payroll and company registration. Payroll figures feed both the PND.1 return and the ledger; when payroll outsourcing in Thailand sits with a different firm, the accountant reconciles numbers someone else produced. Records from company registration in Thailand, such as the Memorandum of Association, share register and director details, feed the annual filings.
The audit is the exception, because the CPA should stay independent of the bookkeeping team. For everything else, Settlr Global's People & HR and Business Operations service lines place these functions with one Bangkok team, which is one option for foreign directors who want a single English point of contact.
Frequently asked questions
Can a foreign director approve Thai tax returns without reading Thai?
A foreign director can approve Thai tax returns through English summaries prepared by a qualified firm and stay accountable for the content. Ask for an English summary of each return and approve it in writing before submission.
Do foreign-owned companies in Thailand need an annual audit?
When is corporate income tax due in Thailand?
According to the Revenue Department, the annual PND.50 return is due within 150 days of fiscal year-end.1 A half-year PND.51 estimate is also filed each year.
Can our books be kept in English software?
Many firms keep the working ledger in Xero, QuickBooks or Zoho Books. Ask the firm which records it prepares in Thai for the authorities and how you will see them in English.
What if we want to hire in Thailand before setting up a company?
An employer of record in Thailand can employ staff for you without a local entity. Settlr Global reports a first hire in about 2 days, from THB 8,999 per employee per month for a local hire and THB 10,999 for an expat hire.
How much do accounting services in Thailand cost?
Fees generally depend on monthly transaction volume, VAT status and payroll size. Compare quotes on the same scope, and see Settlr Global's pricing for published starting prices.
About Settlr Global
Settlr Global is the operating arm of WOWS Global, a Singapore-incorporated corporate advisory and investment banking group, and provides a one-platform ecosystem for business operations in Thailand. It combines payroll, HR, legal, tax and incorporation support under a single team, so founders do not have to coordinate separate local agencies. The platform has processed payroll and compliance work for 200+ clients across 15+ countries, from early-stage startups to established multinational enterprises. Its Employer of Record service lets companies hire in Thailand in about two days, with or without a local entity. Your one stop for business operations in Thailand.
If your directors need to see every Thai filing in English before approving it, speak with Settlr Global's Bangkok team at settlrglobal.com.
References
- Revenue Department of Thailand: Corporate Income Taxrd.go.th
- Revenue Department of Thailand: Corporate Income Tax Ratesrd.go.th
- Revenue Department of Thailand: Tax for Small and Medium Enterprisesrd.go.th
- Revenue Department of Thailand: Value Added Taxrd.go.th
- Federation of Accounting Professions: TFRS for NPAEs (in Thai)acpro-std.tfac.or.th
