Tax and Accounting Law in Thailand

Tax and accounting law in Thailand governs how individuals and businesses are taxed, how financial records must be maintained, and how companies comply with both local and international reporting obligations. Whether you are setting up a company, earning income in Thailand, or expanding regionally, it’s essential to understand the country’s tax structure and financial compliance rules.

Thailand’s tax system includes personal income tax, corporate income tax, value-added tax (VAT), withholding tax, and various stamp duties and specific business taxes. All registered entities are also subject to accounting and audit obligations governed by the Revenue Department, the Ministry of Commerce, and accounting standards issued by the Federation of Accounting Professions.

Failing to comply with Thai tax and accounting regulations can result in audits, penalties, or even criminal liability. Therefore, hiring a tax and accounting lawyer or advisor ensures accurate filings, minimized risk, and greater efficiency in business operations.

Tax and accounting law often overlaps with other key practice areas, such as Business & Corporate Law in Thailand for company structuring and compliance, and Banking & Finance Law in Thailand for lending, interest withholding, and financial transactions. Exploring these related areas can help you better plan and manage your business’s legal obligations.

What Is Covered Under Tax and Accounting Law in Thailand?

Tax and accounting lawyers in Thailand provide advisory, compliance, and dispute resolution services to businesses, investors, and individuals. Their work spans registration, documentation, filings, audits, and legal interpretation of tax rules.

Corporate Tax Planning and Compliance

Determining corporate tax liability under Thai Revenue Code
Corporate income tax return preparation (PND 50, PND 51)
Strategic tax planning for subsidiaries, branch offices, and joint ventures
Reviewing deductible expenses and tax structuring for efficiency
Preparing tax computations in line with Thai GAAP and IFRS

Withholding Tax and VAT

Filing withholding tax returns (PND 1, 3, 53, 54)
Managing value-added tax (VAT) registration and filings (PP 30, PP 36)
Advising on cross-border services and foreign-sourced income
Handling exemptions and refunds for exports or BOI companies
Avoiding double taxation and understanding tax treaties Thailand has signed

Personal Income Tax and High-Net-Worth Individuals

Personal income tax planning and annual return filing (PND 90/91)
Tax compliance for expats, digital nomads, and foreign directors
Tax residency rules and global income considerations
Structuring investments or compensation packages efficiently

Accounting, Bookkeeping, and Audit

Maintaining compliant accounting records and ledgers
Preparing financial statements in line with Thai Financial Reporting Standards
Conducting internal audits and coordinating statutory audits
Filing balance sheets and audit reports with the Department of Business Development (DBD)

BOI, Startups, and Tax Incentives

Structuring BOI-promoted entities for tax optimization
Applying for tax holidays or reductions under investment promotion laws
Managing accounting requirements for startup incentives or e-commerce business

Tax Disputes and Investigations

Representing clients during Revenue Department audits
Responding to tax assessments, notices, and summons
Filing objections, appeals, or tax refund requests
Assisting with criminal tax matters and penalty negotiations

Who Should Hire a Tax or Accounting Lawyer in Thailand?

You should consider hiring a tax or accounting lawyer if you are:

A foreign company or investor entering the Thai market
A local business needing corporate tax or VAT compliance
An expat or high-net-worth individual with income in Thailand
A startup applying for BOI incentives or investor visas
A company undergoing a tax audit or facing a dispute
A company involved in restructuring, M&A, or joint ventures requiring tax advice

Even small errors in tax filings or missed deadlines can trigger audits and fines. With the right legal and tax support, your business can stay fully compliant and legally optimized.

Find Tax and Accounting Lawyers in Thailand

Looking for trusted professionals in tax and accounting law in Thailand? Our directory features experienced lawyers and tax specialists who help clients manage tax filings, reduce liability, and comply with Thai financial regulations.

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FAQs About Tax and Accounting in Thailand

What is the corporate income tax rate in Thailand?

The standard corporate tax rate is 20%, but small companies may qualify for reduced rates based on revenue and capital.

Who needs to register for VAT in Thailand?

Businesses with annual turnover over 1.8 million THB must register for VAT. However, certain business types are exempt regardless of revenue. Voluntary registration is also possible below the threshold.

Do foreign companies have to pay tax in Thailand?

Yes. If a foreign company earns income in Thailand or has a permanent establishment, it may be subject to corporate income tax or withholding tax.

What are the accounting requirements for Thai companies?

Thai companies must maintain proper books, prepare annual financial statements, and file audited reports with the DBD and Revenue Department.

Need Help With Tax and Accounting Law in Thailand?

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