TSL’s Accounting Services Package includes:
Monthly report preparation (Balance Sheet, P&L)
Withholding Tax preparation (PND 3, 53)
Value Added Tax preparation (PP 30)
Withholding Tax Return preparation (PND 54)
Mid-Year Tax Return preparation (PND 51)
Annual Tax Return preparation (PND 50)
Annual Financial Statement preparation and submission to Thai government
Record of accounting transactions report preparation
Supporting schedules for financial statements preparation
Payment transfers and report preparation
Bank account set up
TSL’s Payroll Services Package includes:
Payroll calculations preparation
Payment of salary to employees’ bank accounts
Withholding tax preparation (PND 1)
Social Security preparation (SPS 1-10)
Withholding Tax Certificate preparation (BIS 50)
Provident Fund preparation
Workman’s Compensation preparation
Payments to government agencies
Electronic filing of reports
- TSL’s Thai Accounting practice offers a complete range of Thai accountant services, including bookkeeping and payroll management. We prepare financial statements for use by banks, investors, and other third parties. We will also prepare custom financial reports for internal and managerial use. Let TSL assist you with your monthly accounting and bookkeeping needs.
- TSL’s monthly Thai Accountant service includes everything from balance sheets, payroll services, assistance with tax planning during the year and preparation of your individual or business tax returns. We can also provide you with Thai accounting software support and our accounting and bookkeeping professionals can train and support you and your staff.
- Balance Sheets and Income Statements– TSL prepares profit and loss statements that track revenues and expenses and assist in determining your business operating performance. Our accountants prepare balance sheets for current period, year to date, and comparisons to prior years.
- Detailed General Ledger– All monthly activity is displayed to ensure that no discrepancies occur in billings or payments.
- Bank Reconciliation– TSL’s Thai accountant and bookkeeper experts will reconcile your accounts each month to ensure that your bank account and accounting are kept up-to-date.
- Payroll Services– TSL have a strategic alliance with specialized payroll service providers for the preparation of payroll tax and sales tax reports.
- Unlimited Phone Consultation– TSL’s Thai tax and Thai accountant professionals are available to answer questions related to your personal or business finances, including financial statements, trend analysis, cash flow projections, and Thailand’s changing tax laws.
- Thai Accounting Software Support– TSL can provide you with accounting software training and support.
- Preparation of Business Tax Returns– TSL provides Thai tax planning and Thai tax preparation services for limited liability company, sole-proprietorship, partnership, joint venture, branch and rep office and Thai tax returns.
- Ongoing Tax Law Compliance and Tax Planning – TSL Thailand’s Certified Public Accountants stay current with changing Thailand’s tax laws throughout the financial year and so will you.
- Audit Representation– TSL Thai Accountant experts provides counseling, negotiation, and representation for Thailand Revenue Department of audits.
- TSL’s Thai Tax Advisory practice offers professional preparation of all federal, state, and local tax returns at competitive, affordable rates. We continuously monitor tax law changes to allow our clients to minimize current and future tax liabilities. We can provide complete representation services before the IRS as well as state and local taxing authorities.
- TSL’s individual tax preparation services include Thai tax preparation and advice by Thai Certified Public Accountants.
- Included with our tax preparation is a mid-year review and consultation on how to minimize taxes and minimize audit risk. If you are seeking representation with the Thai Revenue Department, we provide this also. Some of the many services we offer include:
- Professional Thai tax preparation and advice.
- Mid-year review (included in preparation fee), in which our CPAs and tax professionals assist in tax planning as the key to Thai tax compliance and reducing tax liability.
- Electronic filing.
- Consultations on how to adjust withholding to minimize taxes at the end of the year or to have more use of your money throughout the year.
- Estimated payment calculations.
- Advice on how to pay the lowest taxes possible – LEGALLY.
- Suggestions on how to minimize your audit risk.
- A tax newsletter, featuring the latest tax tips and tax law change information.
- Thai Tax planning to help you create a tax strategy that is suited to your unique situation.
- Thai Revenue Department representation and Offers in Compromise. A certified public Thai accountant (CPA) can assist you by providing counseling, negotiation, and representation for Thai Revenue Department audits, filing an extension, non-filed returns, and back taxes.
TSL Thai Payroll Services includes the following support to your business that will reduce the administrative burden on the basic processing of staff salary payments and allow you to focus on the important aspects of building your business:
- Payroll calculations preparation
- Report distribution
- Payment of salary to employees’ bank accounts
- Withholding tax preparation (PND 1)
- Social Security preparation (SPS 1-10)
- Withholding Tax Certificate preparation (BIS 50)
- Provident Fund preparation
- Workman’s Compensation preparation
- Payments to government agencies
- Electronic filing of reports
- Our practice offers a wide range of consulting services to help you improve business operations, boost efficiency, and increase the bottom line.
- Many small businesses do not have the need for or resources to hire a full-time controller. These businesses still need strong financial leadership, someone to analyze the company’s financial status and set strategic financial objectives and plans – tasks typically handled by a controller. The solution is to retain TSL as your “Outsourced Controller”.
- We will provide an on-going objective analysis of your business’ financial status. Through regular consultative sessions, we will work with you to establish objectives and guide you along the path to meeting those objectives. In short, we will help you make more money.
- Contact us at TSL to learn more about how your business can benefit from these services.
In Thailand, taxes are imposed both at national and local levels. The majority of tax collections are administered by the Ministry of Finance and tax is collected by the Thailand Revenue Department under the following categories:
- Corporate Income Tax
- Value Added Taxes (or Specific Business Taxes)
- Stamp Duty
- Personal Income Tax
In addition, the Thailand Customs Department is responsible for collecting import and export duties and The Excise Department collects excise tax.
Property tax and municipal tax are collected by the Thai local authorities.
Personal Income Tax (PIT): is a direct tax levied on personal income.
This includes income of an individual, an ordinary partnership, a non-juristic body of person, a deceased person or an undivided estate. In general, a person liable for Personal Income Tax must compute personal tax liability, file a tax return and pay tax accordingly, if any, on a calendar year basis.
Corporate Income Tax (CIT): is a direct tax levied on a juristic company or partnership that has been established under Thai or foreign law and conducts business in Thailand or derives specific types of income from Thailand.
The term “juristic company or partnership” includes: a limited company, a limited partnership or a registered ordinary partnership incorporated under Thai or foreign law as well as an association and a foundation engaged in business producing revenue.
The term also includes any joint venture, trading or profit-seeking activity operated by a foreign government or its agency or other juristic body incorporated under a foreign law.
Thai Tax Filing And Payments: Thai or foreign entities which are conducting business in Thailand must submit tax returns and payments twice a year.
- Thai Accounting issues in Thailand can be very complicated if you have not handled them before, and may take you many months to understand due to Thai language, culture and ever-changing regulations. At TSL, our experienced advisers (Expats and Thai) have the language and expertise to communicate in Thai on your behalf and successfully review your accounting requirements.
- TSL can also provide assistance in setting up efficient tax solutions for your Thailand Foundation. Our advisers are experts in the field and can advise clients on the correct basis for assessment of tax liabilities, overcharging, exemptions and incentives provided by the Thai government.
- TSL’s reputation is based on the quality of our service, our commitment to building personal relationships with our clients, and on our ability to provide personalized service with individual attention to your specific needs.
- Choosing an advisor specialising in international business and law to assist you with your Thai Accountant or Thai Tax services will ensure that your business is properly set up and efficiently operated.
- If you would like assistance with your Thai Accounting and Tax procedures please consult TSL. We are looking forward to hearing from you soon.
TSL Thailand Contact Information:
For more information about applying for a Visa or requesting our Legal Services, please visit the TSL Thailand Contact page.
Or you can contact us by phone:
International: +66 84-361-2818
In Thailand: 087-595-4918 or 02-168-7734