Accounting and Tax for a Thai Company in 2026: What You Must File, Even With No Income

Many foreigners think a new Thai company with no profit has nothing to file. In fact, every company must keep accounts and report to the Revenue Department and the DBD, even with zero income. Missing filings lead to fines, and money moving through an account without reports is one of the reasons banks start asking questions.

Below: what a Thai company usually has to file, the deadlines, the taxes, the mistakes we see most often and what to do if you are already behind.

In short

• No income does not mean no filings. The annual tax return and audited financial statements are required every year.
• Some filings are monthly, such as VAT, withholding tax and social security, once they apply to your company.
• The bank compares your reports with your account. Turnover that does not appear in the accounts is a red flag.
• Late filings get more expensive. Fines and a monthly surcharge on unpaid tax add up.

Why accounting matters beyond tax

Your accounts are the official story of your company. The Revenue Department, the DBD and your bank all see a part of it. When the money in the account, the invoices and the filed reports match, the company looks real. When they do not, the bank may ask for explanations or restrict the account, even if the business is legal.

Good accounting also helps with your visa and work permit, because immigration checks the company’s filings and the salary paid to you. Non-B visa and work permit guide

What a Thai company usually files

Every month, when it applies

• Withholding tax returns (PND 1, 3, 53 or 54) when you pay salaries, services, rent or payments abroad.
• VAT return (PP 30) if the company is registered for VAT, even in a month with no sales.
• Social security contributions for employees, including Thai staff needed for work permits.

Every year

• Half-year corporate income tax return (PND 51) with an estimate of the year’s profit.
• Annual corporate income tax return (PND 50) within 150 days after the end of the financial year.
• Financial statements audited by a licensed Thai auditor, filed with the DBD after the annual shareholder meeting.
• Shareholder list updated after the annual meeting.

Monthly returns are usually due in the first half of the following month, with a few extra days for online filing. Your accountant should give you a calendar with exact dates.

Taxes to know

• Corporate income tax: 20% of net profit. Small companies can get lower rates on the first part of their profit if they meet the SME conditions.
• VAT: 7%. Registration is required when turnover exceeds 1.8 million THB a year, and many businesses register earlier.
• Withholding tax: deducted from many payments and paid to the Revenue Department on behalf of the recipient.
• Personal income tax on your salary from the company, deducted every month.

Rates and rules change, and some activities have special treatment. Check your situation with a licensed accountant.

Common mistakes

• Thinking that a company with no profit has nothing to file
• Starting accounting only when the money starts coming in
• Paying company expenses from a personal account, or the other way round
• Receiving payments without invoices or contracts
• Registering for VAT and then missing the monthly returns
• Choosing an accountant only by the lowest price
• Ignoring letters from the Revenue Department

What to do from day one

1. Appoint an accountant right after registration, not at the end of the year.
2. Keep company and personal money separate. All business payments go through the company account.
3. Issue invoices and keep contracts for every payment in and out.
4. Get a filing calendar and check every month that the returns were submitted.
5. Review the accounts with your bank activity before the bank does it for you.

Already behind with filings?

It happens often: the company was registered, then nothing was filed for months. The fix is to rebuild the accounts from bank statements and documents, submit the missing returns and pay the tax, fines and surcharges due. It is usually cheaper and safer to do this before the Revenue Department or the bank asks.

A typical situation

A foreign owner registers a company and receives the first payments from abroad. The company has low profit, so no one files anything. Months later, the bank reviews the account: money moved through it, but there are no VAT or tax reports and no invoices. The account is restricted until the owner explains the activity.

After the backlog is rebuilt and the missing returns are filed, the bank gets a clear picture of the business. Every case is different, and the bank makes its own decision. Why Thai banks freeze accounts

How we can help

We coordinate monthly accounting, tax filings and the annual audit through licensed partner accountants and explain everything in your language. If you are behind, we organise the documents and the catch-up filings. We are not an accounting firm ourselves: licensed accountants and auditors sign the reports.

Monthly accounting from 5,290 THB, VAT-registered companies from 9,590 THB a month, all including 7% VAT. Year-end financial statements and the annual audit are quoted separately. Accounting packages and prices

Questions we often hear

Do I need to file if my company had no income?

Yes. The company still files the annual tax return and audited financial statements, and monthly returns if it is registered for VAT.

Can I do the accounting myself?

You can keep the records, but the financial statements must be prepared by an accountant and audited by a licensed Thai auditor every year.

What happens if I file late?

There are fines for late returns, and unpaid tax gets a monthly surcharge. Long delays can also cause problems with the bank and with visa or work permit renewals.

When do I need to register for VAT?

When turnover exceeds 1.8 million THB a year. Some businesses register earlier because their clients or suppliers need VAT invoices.

This article is general information, not tax advice. Rates, forms and deadlines change, so check your situation with a licensed accountant.