Financial reporting services in Thailand

Yes. Every Thai limited company (บริษัทจำกัด) must have its financial statements audited by a Thai Certified Public Accountant (CPA) and filed with the Department of Business Development (DBD) every year, whatever its size or revenue. The only narrow exception covers small registered partnerships whose capital, assets, and revenue all fall below thresholds set by ministerial regulation. Late or missing filings lead to fines under the Accounting Act for the company and its directors.

TFRS for NPAEs (Thai Financial Reporting Standards for Non-Publicly Accountable Entities) is the simplified standard used by most Thai SMEs: any company that is not listed and is not a bank, insurer, or other financial institution. The Federation of Accounting Professions (FAP) issued a revised version in 2022, which applies to accounting periods starting on or after 1 January 2023 and updates several areas of recognition and disclosure. Statements for 2023 onward must follow the revised version.

In practice, no. Financial statements are filed online through DBD e-Filing (efiling.dbd.go.th), using the DBD XBRL template. The company must register an e-Filing user and authorize the person who submits, which takes time the first year. Late filings are fined automatically, so start the registration well before the deadline rather than handing your accountant a PDF at the last minute.

The sequence is: annual general meeting (AGM) approves the audited statements by 30 April 2026 (within 4 months of year-end under the Civil and Commercial Code); the Bor.Or.Jor.5 shareholder list is filed within 14 days of the AGM; and the audited financial statements are filed with DBD within 1 month of the AGM. The PND 50 corporate income tax (CIT) return is due by 30 May 2026 (within 150 days of year-end). When a deadline falls on a weekend or public holiday, check the DBD or Revenue Department announcement for that year.

Not directly. TFRS for NPAEs is a simplified framework and is not equivalent to IFRS. If your parent reports under IFRS, you need Thai statutory statements under TFRS for NPAEs for DBD and the Revenue Department, plus an IFRS reporting pack for group consolidation. For clients referred by DFK International member firms, Plizz prepares both in one engagement: one team, one timeline, and no gap between the two sets of numbers.

A mismatch is one of the most common reasons the Revenue Department (RD) opens a review of an SME. The PND 50 is filed together with the financial statements (Revenue Code Section 69), and taxable profit starts from the accounting profit, adjusted only for items the tax law treats differently. Unexplained gaps lead to questions, requests for supporting documents, and possible reassessment, with a surcharge of 1.5% per month on unpaid tax plus penalties. Plizz reconciles both before either is signed.

Bookkeeping records transactions every month (the data). Financial reporting closes the books and produces formal statements and notes (the preparation). The audit is a licensed CPA's independent opinion on those statements (the assurance). Plizz monthly bookkeeping packages include financial statements twice a year at no extra fee. The statutory audit is performed by a separate CPA firm and quoted separately.

Plizz prepares statements under TFRS for NPAEs (revised 2022), and a licensed CPA audits them. This is the format Thai banks, the RD, DBD, and investors doing due diligence in Thailand expect. Reviewers work faster with statements that are complete, audited, and reconciled to the tax returns; statements that need a clean-up first can delay a deal.