Thai Financial StatementsIf you have a business in Thailand then speak to us as the board of directors of the company must prepare a balance sheet at least every 12 months. This balance sheet must contain a summary of the assets and liabilities with explanations of the Thai company to the government tax offices. This annual report must also include the profit and loss statement for the fiscal year of the business.

The board of directors of the company must have the balance sheet and profit and loss statement examined by an auditor which has been appointed by the shareholders at a shareholders meeting of the Thai business. The financial statement must also be submitted to the general meeting of the company for examination and approval within four months at the end of the fiscal year.

Financial Statement Preparation

Once the financial statement has been approved it must be submitted to the MOC within 30 days from the day the general meeting of the company has approved the financial statements. Public limited companies in Thailand must disclose the following information in the yearly reports:

Financial Statement Preparation Documents
- The company name and location of the head office,
- Type of business it does in Thailand,
- Details of shares issued and shares held in any other subsidiaries (if any),
- Details of company directors of the company regarding any conflict of interest
- Any changes during the year for the company.

If you have a branch or regional office or representative office in Thailand then their books and records must also be maintained by a Thai accountant and must also be audited by a registered Thai auditor at least once a year. These branch offices must submit financial statements to the MOC like the head office and also within 5 months from the day the accounts have been closed. Note that Thailand currently implements the Thai Financial Reporting Standard almost the same as IFRS.

Also known as financial report, financial statement is an official record of the financial activities of your business in Thailand. This is very important as it’s one of the requirements in renewing your Non B Visa and Work Permit and also required for other purposes such as applying for loans and the like. The following comprises the financial statement that G.A.M. Accounting can prepare for you:

What can we do for you?
- Balance Sheet
- Income statement/ Profit and Loss statement (or a “P&L)
- Statement of retained earnings
- Statement of cash flows

G.A.M. Accounting ensures that all the aforementioned financial statements of your business   in Thailand will be taken care of ensuring clean financial record for your Thai company.