All legal entities registered in Thailand have a legal obligation to prepare and keep accounts (this includes limited companies, registered partnerships and even foreign juristic persons conducting business in Thailand) and file an annual audit. The annual audit report must be filed within 150 days after the end of the accounting period.
A failure to comply with this requirement would constitute a criminal offense which may lead to a penalty of up to THB 200,000.
Our audit package is all-inclusive and can be summarized as follows:
1. Accounting (general journal, general ledger and trial balance);
2. Preparing financial statements and submitting them to the revenue office;
3. Filing the corporate tax returns and submitting them to the Revenue Department (PND 50) and the Department of Business Development.
Mahanakorn Partners Group can assist you with the various steps before and after an audit report has been prepared.