TMF Group’s Thailand accounting services
Everyone's accounting needs are different and so are a country’s regulatory requirements. In Thailand, regulatory standards such as the Thai Accounting Act B.E. 2543 and the Thai Revenue Code, can take some getting used to for those who are unfamiliar. TMF Group Thailand has a team of over 60 accountants, compliance experts and lawyers all based within Thailand, who work with these laws and other regulations on a daily basis.
Our team in Thailand can help you with:
- Payments processing
- Credit control
- Local tax statutory reporting
- Management reporting IFRS and GAAP
- Consolidated accounts preparation and reporting
- Tax and VAT compliance
- Provision of cheque signatories for our clients’ bank accounts and liaising with relevant parties when necessary
- Trade support services
TMF Group’s Thailand corporate secretarial services
The Foreign Business Act prohibits foreign companies from engaging in some activities completely. In many cases, a company must be no more than 49% owned by a foreign entity, with the majority owned by Thais. Our Thailand team will partner with you to help keep you compliant, manage your regulatory risk and provide transparency (both in-country and across borders).
TMF Group Thailand can help you with:
- Legal entity incorporations
- Liquidation services
- Provision of local directors, shareholders and company secretary
- Opening bank accounts with domestic and international banks
- Group reorganisations, secondments and interim resources
- Local registered offices
- Interim local virtual office
- Entities health check and registrar amendments
- Process agent services
- Escrow-related services
HR and payroll services in Thailand
Thailand does not present many challenges when it comes to human resources, but there are a number of regulations that must be abided by. Every employer in Thailand needs to be registered with the Social Security Fund, which covers payments in cases of sickness, disability, death, maternity leave, child support and retirement.
If you are looking to recruit foreigners, you will find that first preference is given to recruiting a Thai national who is equally qualified to fill a specific role. According to the Thai Labour Law, there must be four local national employees for every one foreigner and every foreign employee must comply with visa requirements and obtain a work permit prior to starting work in Thailand.
Our clients consider us a trusted and knowledgeable partner, and our intimate local knowledge has helped many businesses thrive in Thailand.
The TMF Group Thailand team can help you with the following HR and payroll services:
- Calculation and payment of payroll
- Electronic reporting solutions to securely manage global data and payment process
- Implementation of HR policies and terms into local contracts and procedures
- Employment contract preparation and execution
- Facilitation of relocation requirements including work permits, employment passes, dependent passes, visit passes and permanent resident status
- Cancellation of employment and/or dependent passes
- Implementation of benefit programs in compliance with local laws
- Expats' working permits and resident visa applications