to the Thai Government
As part of its comprehensive Accounting and Auditing Services, the professional team at Juslaws & Consult prepares annual financial statements on behalf of clients for submission to the Ministry of Commerce.
Limited companies and public limited company must submit their annual financial statements, in the Thai language, to the Ministry of Commerce within one month of the date of the Annual General Meeting (AGM) that approved the financial statement. The AGM must be held within four months of the end of the company’s fiscal year.
Registered partnerships, joint ventures and foreign companies conducting business in Thailand must submit their annual financial statements within five months of the date the accounts are closed for the accounting period.
A company incorporated in Thailand must prepare its annual financial statement according to generally accepted accounting principles and issue the statement to its shareholders and the Ministry of Commerce.
If a company fails to submit its audited financial statement within the required time it is liable to a fine of not more than 50,000 baht. This fine is also applicable to the responsible company officer. If a company cannot file its financial statements by the required date, the Ministry of Commerce may consider an extension on a case-by-case basis.
Additionally, the company’s annual financial statement must be filed, along with its annual income tax return, with the Department of Revenue, within 150 days after the end of its accounting period.