Review the Business
Understand activities, registrations, payments, employees and the current accounting process.
Ongoing tax compliance
Tax Compliance Services in Thailand
Companies operating in Thailand may have recurring tax obligations throughout the year, even when transaction volumes are low. WMC helps businesses identify the filings that apply, maintain the required accounting information and manage ongoing tax compliance within the agreed scope.
Discuss Your Tax Compliance RequirementsWhat Tax Compliance Means in Practice
Tax filing is one part of tax compliance. Ongoing compliance also involves understanding which obligations apply, maintaining the supporting records and checking whether the required work has been addressed.
- Identifying applicable filing obligations
- Maintaining supporting accounting records
- Monitoring recurring deadlines and filing status
- Reviewing transaction information and tax treatment
- Reconciling accounting and tax information
- Following outstanding items and changes in company activity
When the work is specifically about preparing and submitting a return, see WMC's tax return preparation and filing services.
Recurring Tax Compliance for Businesses in Thailand
The applicable requirements depend on company activities, transactions, tax registrations, employees, payments to suppliers or overseas parties, taxable income and VAT status.
- VAT
For businesses that are VAT registered or otherwise have relevant VAT responsibilities. Tax invoices, input VAT, output VAT and monthly accounting information may need to be reviewed. - Withholding Tax
For payments that may be subject to Thai withholding tax. The payment type, recipient and supporting documents affect the review. - Corporate Income Tax
Relevant periodic and annual corporate income tax work should be considered with the company's accounting records and taxable activities. - Payroll-Related Tax
Where the company has employees, payroll information and employee-related tax responsibilities may form part of the recurring compliance process.
Monthly Tax Compliance Support
Monthly compliance work connects the company's transactions with the tax information needed for recurring requirements. It is not limited to sending a return at the end of the month.
- Reviewing accounting transactions
- Identifying VAT and withholding tax implications
- Preparing information required for recurring filings
- Checking supporting tax documents
- Reconciling relevant accounting balances
- Monitoring outstanding tax matters and payment information
Keeping Track of Tax Obligations
Companies may have different filing obligations depending on their activities and registrations. WMC may help establish:
- Applicable filings
Which recurring tax requirements may apply to the company. - Required records
Which invoices, payment details, payroll information and accounting schedules are needed. - Responsibilities
The responsible contacts and the monthly information cut-off for the engagement. - Status tracking
Filing status, missing information, outstanding matters and upcoming year-end requirements.
WMC does not assume that every company needs the same calendar or provide automatic reminders unless that feature is included in the agreed service.
Accounting Records and Tax Compliance
Accounting and tax compliance are connected. A discrepancy may need to be understood before tax information is prepared or a filing is submitted.
- VAT information does not match the accounting ledger
- Withholding tax records do not match expenses or payments
- Supporting invoices are incomplete
- Transactions have been classified inconsistently
- Accounting balances affect the tax information being reviewed
- Prior-period items are discovered during monthly work
For the accounting records that support this work, see bookkeeping and monthly accounting support. If historical gaps are identified, WMC can assess whether accounting cleanup for incomplete or overdue records is required.
Reviewing the Current Tax Compliance Status
A compliance-status review may be useful when changing accounting providers, starting a new engagement, checking whether filings are current or giving a foreign parent company visibility over the Thai business.
Depending on the situation, WMC may review:
- Recent tax filings and available payment evidence
- VAT registration and recurring filing status
- Withholding tax records
- Corporate income tax filings
- Accounting records relevant to the filings
- Known outstanding matters and missing information
The review identifies what can be seen from the available information. It does not assume that an unavailable record or prior filing was completed.
Tax Compliance for Companies with Overseas Management
Overseas directors, shareholders and finance teams may need clear visibility over the Thai company's filing status, tax payment information and recurring requirements.
- Filing-status schedules
- Explanations of recurring Thai requirements
- English-language accounting and tax information
- Coordination with regional finance teams
When Tax Filings Are Outstanding
If filings appear to be overdue or incomplete, WMC can first review the periods involved, available records, previously filed returns, transaction information, tax payment evidence and related accounting information.
The required work may then be defined based on the facts and applicable filing requirements. Late, amended or additional filings are not assumed to be part of every engagement, and WMC does not promise penalty removal, authority acceptance or automatic correction.
Where the next step is return preparation or filing execution, it should be agreed as a separate part of the tax-filing scope.
From Monthly Compliance to Year-End Tax
Organized monthly information can contribute to half-year corporate income tax work where applicable, annual corporate income tax preparation, year-end accounting and financial statement preparation.
WMC can also organize schedules and supporting information for the company's independent auditor or appointed Certified Public Accountant. See audit coordination and year-end support where that work forms part of the engagement.
What WMC Can Support
- Tax Compliance Review
Review applicable registrations, recent filings and available records. - Monthly Compliance
Coordinate recurring tax requirements based on company activity and the agreed monthly process. - Filing Preparation
Prepare applicable returns where return preparation forms part of the engagement. - Tax Payment Information
Prepare or coordinate information required for tax payment processes. - Compliance Status
Identify outstanding filings or unresolved information within the available records. - Accounting Coordination
Coordinate the accounting records needed to support recurring tax work. - Year-End Tax Coordination
Connect recurring compliance records with corporate income tax and year-end work.
Scope Depends on the Company's Circumstances
Not every tax return applies to every company. Filing obligations depend on actual transactions, registrations, payments, employees and available supporting information. WMC does not assume facts where the records are unavailable.
Prior filings may require separate review. Legal or specialist tax opinions may also require a separately defined engagement.
How the Compliance Engagement Starts
Map the Requirements
Identify recurring obligations, records, responsible contacts and missing information.
Agree the Monthly Scope
Separate compliance review, accounting coordination, filing preparation and other work.
Monitor and Coordinate
Review the available monthly information, follow outstanding matters and connect the work to year-end requirements.
Frequently Asked Questions
What is the difference between tax compliance and tax filing?
Tax filing is the preparation and submission of a particular tax return. Tax compliance is broader and may include identifying applicable obligations, maintaining supporting records, monitoring filing status and coordinating recurring tax requirements.
What monthly tax obligations may apply to a company in Thailand?
Requirements depend on the company's activity, registrations, payments and employees. VAT, withholding tax and payroll-related obligations may apply, while corporate income tax work may arise at relevant periodic and annual stages.
Can WMC handle monthly accounting and tax compliance together?
Yes, where both services are included in the agreed engagement. Monthly accounting can provide the transaction and supporting information needed for recurring tax compliance work.
Can WMC review whether our tax filings are up to date?
WMC can review available filings, tax records and relevant accounting information and identify apparent gaps within the available evidence.
What if previous tax filings are missing or overdue?
The periods and available records should first be reviewed before determining whether late, amended or additional filings are required. The work is then defined from the facts and applicable requirements.
Does WMC support foreign-owned companies?
Yes, within WMC's accounting and tax scope. WMC can provide English-language schedules and coordinate relevant information with overseas management where included in the engagement.
Can WMC prepare and file the tax returns?
Yes, where filing preparation and submission form part of the agreed engagement. See the dedicated Tax Filing Services page for return-preparation details.
Need Support with Ongoing Tax Compliance in Thailand?
Tell us about your company's activities, tax registrations and current filing process. WMC can review the available information and help define the recurring tax compliance work required.
Discuss Your Tax Compliance Requirements