VB & Partners Highlights Key Accounting and Tax Requirements for Businesses in Thailand

Bangkok, Thailand - November 2025. VB & Partners has offered guidance to help companies operating in Thailand better understand their accounting and tax responsibilities, noting that both active and inactive entities must satisfy Thai accounting regulations throughout the year.
Understanding Thailand's Accounting and Tax Requirements
Thai law requires every registered company, regardless of business activity, to maintain proper accounts and submit mandatory annual filings. This includes preparing annual financial statements, appointing an auditor, holding an annual general meeting to approve the audited accounts, and filing corporate income tax returns.

Businesses registered for VAT must also file monthly VAT returns, even during periods with no transactions. These requirements apply equally to operating companies, holding companies, and entities with limited or dormant activity.
"Maintaining accurate and timely accounting records is essential for any business operating in Thailand," notes Vincent Birot, founder of VB & Partners. "This is especially true for BOI-promoted companies, which face stricter reporting requirements and where accounting weaknesses can jeopardize BOI benefits. The same applies to businesses preparing to raise capital or engage in M&A: investors and regulators rely heavily on reliable financial statements. Inaccurate or incomplete accounts can weaken valuation during fundraising, and complicate due-diligence in a transaction."

Vincent Birot also added,
"Directors should also be aware that non-compliance with requirements such as withholding tax, documentation standards, and bookkeeping rules may result in penalties or personal exposure, especially for foreign-owned businesses unfamiliar with local procedures."
Areas Where Companies Commonly Require Support
According to VB & Partners, many foreign-owned businesses struggle with recurring filing obligations and documentation standards. Key areas that require ongoing attention include:
Monthly bookkeeping

Monthly VAT, withholding tax, and Social Security submissions

Half-year and annual corporate income tax filings

Preparation of annual financial statements and coordination with auditors

Managing payroll and maintaining proper employment records

Making sure the documents are properly stored for the mandatory periods of time as per Thai standards

VB & Partners emphasises that timely filings and well-maintained accounts help companies avoid penalties and have efficient dealings with the Revenue Department, auditors, and potential investors.
More information about the scope of accounting and tax obligations can be found at: https://vbapartners.com/accounting-services/

How VB & Partners Assists Businesses
VB & Partners provides structured support to help companies throughout the accounting cycle. Typical assistance includes:
Document Collection: Gathering invoices, receipts, bank statements, and supporting documents each month.

Bookkeeping: Recording transactions in line with Thai accounting standards.

Tax Filings: Preparing and submitting VAT, withholding tax, Social Security, half-year tax, and annual corporate income tax returns.

Annual Reports: Preparing annual financial statements and coordinating with the appointed auditor.

Ongoing Compliance Support: Providing updates, reminders, and explanations to ensure business owners understand their obligations.

Why Businesses Seek Professional Support
VB & Partners notes that many companies, particularly those run by foreign directors, require assistance navigating Thai accounting rules, maintaining documentation, and managing filing deadlines. The company's multilingual team provides practical guidance to help business owners understand their responsibilities and avoid common compliance issues. see here: https://vbapartners.com/how-to-change-accounting-company/

For more information about how to choose your new accounting company, please see here: https://vbapartners.com/choose-your-accounting-firm-in-thailand/

Name of the company: VB & Partners Co., Ltd.
Full postal address: Ocean Tower 2, 14th Floor, Sukhumvit 19 Alley, Khlong Toei Nuea, Watthana, Bangkok, 10110, Thailand

Detailed contact information:
Phone: +66 (0) 92-990 1046
Email: info@vbapartners.com

Press contact: Vincent Birot, Founder

VB & Partners provides accounting and tax compliance services for companies operating in Thailand. The team supports clients from company formation through ongoing bookkeeping, monthly tax filings, annual financial reporting, and BOI-related compliance, with services available in Thai, English, and French.

This release was published on openPR.