First Year Compliance Checklist for New Thai Companies

Registering a company in Thailand is only the starting point. Once the company exists, it immediately enters a cycle of bookkeeping, tax filings, payroll obligations and annual reporting.

For new founders, the challenge is rarely one complicated form. It is remembering which forms are monthly, which appear halfway through the year and which depend on your financial year-end.

This guide explains the main Thailand annual compliance requirements for a new Thai limited company and shows what needs to happen during its first year.

Key takeaways

Month one registrations

Your compliance system should be set up as soon as the company is incorporated.

1. Start bookkeeping immediately

Do not wait until the company starts making significant revenue.

Company expenses, founder reimbursements, invoices, bank transactions, payroll and supplier payments should be recorded from the beginning. Clean monthly records make VAT, withholding tax and the year-end audit much easier.

This is especially important for foreign founders because payments made from personal accounts during the startup period can become difficult to explain several months later.

2. Check whether VAT registration is required

VAT registration is not automatically required for every new company.

Businesses carrying on VAT-liable activities generally become required to register once annual revenue exceeds THB 1.8 million. The Revenue Department requires registration within 30 days after the business passes the threshold.

Businesses below the threshold may be able to register voluntarily depending on their activities.

Once VAT-registered, the company enters the monthly PP.30 filing cycle.

3. Register employees for Social Security

If your company starts hiring, Social Security becomes another compliance stream.

The Social Security Office states that an employee who becomes insured must generally be registered within 30 days using Form SSO 1-03.

This should be built directly into your employee onboarding process rather than treated as an accounting task to fix later.

For companies that want bookkeeping, tax and recurring filing support, Settlr's compliance services can manage the ongoing cycle.

The monthly filing cycle

This is where most first-year compliance work happens.

A company may have three recurring filing streams.

Filing

What it covers

Normal deadline

PND.1

Employee withholding tax

7th of following month, generally extended to 15th for e-filing

PND.3 / PND.53

Withholding tax on relevant payments

7th of following month, generally extended to 15th for e-filing

PP.30

VAT return for VAT-registered businesses

15th of following month, generally 23rd for e-filing

SSO 1-10

Social Security contributions

15th of following month

The Revenue Department's current withholding-tax calendar shows PND.1, PND.2, PND.3 and PND.53 due on the 7th under the normal timetable with online filing available to the 15th.

For VAT, PP.30 is normally due by the 15th of the following month. The Revenue Department's 2026 calendar shows the online deadline as the 23rd.

The Social Security Office requires Form SSO 1-10 and payment by the 15th of the following month.

The simple rule for founders is this: close your bookkeeping every month.

Do not hand your accountant 11 months of bank statements just before the audit.

A monthly close gives you time to identify missing tax invoices, incorrect withholding certificates, unpaid Social Security and transactions that need clarification.

You can also use Settlr's full Thailand Tax Calendar 2026 to track the recurring dates.

Half-year and annual filings

Monthly filings are only one layer of Thailand annual compliance requirements.

Two important corporate income tax filings sit above them.

PND.51: the half-year corporate tax filing

PND.51 is generally filed within two months after the end of the first six months of the accounting period.

For a company with a January to December financial year, this normally means a filing around the end of August.

PND.51 is based on estimated annual profit. It is not something that should be guessed the night before filing. Your accountant should review actual first-half performance and make a reasonable projection for the rest of the year.

PND.50: the annual corporate income tax return

PND.50 uses the company's actual annual results.

Thai and foreign companies carrying on business in Thailand generally file the annual corporate income tax return within 150 days after the end of the accounting period.

Importantly, having no revenue does not automatically remove the filing requirement. The Revenue Department states that a company still has to prepare financial statements and file PND.50 even if it had no business income during the period.

That makes compliance important even for a company that was incorporated but has not yet properly started trading.

The mandatory annual audit

The annual audit requirements in Thailand are often misunderstood by small foreign-owned businesses.

A founder may think:

"My company only made a few sales. Surely I do not need an audit yet."

For a Thai limited company, that assumption can cause problems.

The DBD requires the financial statements of a limited company to be examined and signed off by a licensed auditor. The exemption available to certain small registered partnerships does not extend generally to Thai limited companies.

After the financial year closes, the process normally looks like this:

Prepare the accounts → complete the audit → approve the financial statements at the shareholders' meeting → file with DBD → file the annual corporate tax return.

For a Thai limited company, audited financial statements must be presented to the shareholders for approval within four months after the accounting year closes. The approved statements must then be filed with the DBD within one month after shareholder approval.

There is another deadline connected to the meeting.

The company must submit its updated shareholder list, Form Bor.Or.Jor.5, within 14 days after the annual general meeting.

So the first-year annual checklist is not simply "file tax."

It includes corporate governance as well.

First-year annual checklist

Task

Deadline

Close first accounting period

Normally no later than 12 months after accounting starts

PND.51

Within 2 months after first six months of accounting period

Complete annual audit

Before financial statements are presented for approval

Hold AGM and approve statements

Within 4 months after year-end

File Bor.Or.Jor.5

Within 14 days after AGM

File financial statements with DBD

Within 1 month after approval

File PND.50

Within 150 days after financial year-end

Penalty table

Compliance problems become more expensive when they are allowed to sit.

Compliance failure

Possible consequence

Late PND.1 / withholding tax filing

Fine of up to THB 2,000 plus surcharge on unpaid tax

Unpaid tax after deadline

1.5% surcharge per month or part of a month, subject to statutory limits

Late PND.51

Fine up to THB 2,000 plus additional surcharge where tax is payable

Late PND.50

Fine up to THB 2,000 plus surcharge where tax remains unpaid

Late Social Security contribution

2% additional charge per month under the SSO filing instructions

DBD financial statements up to 2 months late

DBD schedule shows THB 1,000 for the company plus THB 1,000 for the responsible director

DBD financial statements more than 4 months late or not filed

DBD schedule shows a combined THB 12,000 for a limited company and responsible director

The Revenue Code imposes a 1.5% monthly surcharge or part of a month when tax is not paid or remitted by the required deadline. The Revenue Department also states that late PND.51 filing can result in a fine of up to THB 2,000 and additional charges where tax is due.

For PND.50, the Revenue Department confirms a late-filing fine of up to THB 2,000.

The SSO's official contribution form states that late contributions attract an additional 2% per month.

DBD's published penalty schedule shows escalating amounts for late annual financial statements. For a limited company, the published combined amount rises from THB 2,000 when the statements are no more than two months late to THB 12,000 when they are more than four months late or not submitted.

Penalties are one reason compliance should be treated as a calendar rather than an emergency.

Free checklist download

The easiest way to manage your first year is to separate obligations into four groups:

Month one: bookkeeping setup, tax registrations and employee registration.

Every month: withholding tax, VAT where applicable, Social Security and bookkeeping reconciliation.

Mid-year: PND.51 and a review of projected annual tax.

Year-end: close the accounts, complete the mandatory audit, approve the financial statements, update the shareholder filing, submit statements to DBD and complete PND.50.

The goal is not simply to "stay legal." Good compliance also gives founders better financial information. You know what the business actually earns, what taxes are coming and whether your cash position matches the numbers in your accounts.

That matters when you apply for a bank facility, bring in an investor, renew permits or prepare for due diligence.

Download the First Year Compliance Checklist

Keep every monthly, half-year and annual deadline in one place instead of trying to remember them after the fact.

Download the checklist and build your first-year Thailand compliance calendar before your first filing deadline.