We (CBS) can help provide
Accountancy services, Auditing, Tax advising and More Services below
CBS Thailand can help to register the company in order to start the business in Thailand.
There are many types of the company are
- Thai Limited Company,
- Treaty of Amity Company,
- Representative Office,
- BOI-Promoted Company, and
- Branch Offices.
Bookkeeping and Financial Reporting
Accounting function is a backbone of any business, and it is very important to have a proper Accounting Cycle to save your accounting team from hassle.
The accounting cycle is a multistep process used by businesses to create an accurate record of their financial position, as summarized on their financial statements. The amount of time it takes a company to advance through the accounting cycle depends on several factors, including the volume of transactions, whether it uses automated accounting software and the type of financial close.
The main purpose of the accounting cycle is to keep track of all financial activities that occur during a specific accounting period, be it monthly, quarterly or annually.
Below are the eight steps of the accounting cycle.
1. Identify and analyze transactions.
2. Record transactions. (Monthly or quarterly basis according to Thailand Accounting Standards)
3. Post transactions to a general ledger.
4. Determine the unadjusted trial balance.
5. Analyze the worksheet.
6. Adjust journal entries and fix any errors.
7. Create financial statements.
8. Close the books.
We provide tax advisory service by evaluating financial and tax complications. Framing solutions and making recommendation intended to provide guidance and advice on taxation for clients ranging from individuals to business.
We can help the clients’ business goals into targeted action steps intended to maximize the tax position.
- Preparation of monthly withholding tax return from (e.g. PND.1, PND.2, PND.3, PND.53, PND.54)
- Preparation of monthly value added tax return form (e.g., PP.30, PP.36)
- Preparation of tax computation and annual corporate income tax return for the relevant tax year
Company is normally required to submit a corporate income tax return every year. A set tax computing together with profits tax return for the relevant tax year will be prepared according to the audited accounts and submitted to the Revenue Department (RD) and Department of Business Development (DBD) upon Company’s approval.
According to the Thailand Company Ordinance, Company shall keep a proper set of accounting book in preparation for the annual statutory audit.
CBS will conduct the audit in conjunction with CBS’s associated local audit firm, which will provide the final clearance to the audited accounts.
Following the preparation and completion of the annual audited accounts, Company should then prepare for the Annual Tax Compliance process
Annual Service For Financial Statement
CBS Thailand is able to provide following services:
1. Annual Corporate Income Tax Return (PND.50)
*Due date 150 days after fiscal year-end
2. Half year Corporate Income Tax Return (PND.51)
*Due date 2 months after accounting periods of 6 months
3. Annual Corporate Secretary Duties;
– Annual General Meeting
– Legal Publication – Letter to shareholders 120 days after the fiscal year-end
Monthly Administrative Management
CBS will help you with Administrative work as well. Service provider as follow;
1. Accounts Receivable Management
(We take care of your customers billing, outstanding payments and collection.)
2. Accounts Payable Management
(We become the direct point of contact with your vendors, collecting, paying your bills) and issue Withholding Tax.)
3. Forecast payment report
4. Work as an Accountant of your company
We are able to help with accomplishment and achievement of all essential elements of business plan necessary to secure for those who needed to support required investments and expedite interdepartmental collaboration and cooperation.
We can help by providing detailed advice depend on project scope, nature of investment and timing of investment in terms of tax connotation and associated law and regulations.
To classify about the essential step to company formation, to identify about the legal formalities that is required for the formation of company and to see what the critical documents are concerning to the company formation.
The paralegal service that CBS provide as follow;
- Capital Increase / Decrease
- Update document with DBD
- Changing Company Objective (Price per each government)
- Changing Company Stamp (Price per each government)
- Changing Company Name (Price per each government)
- Bank Opening
- Import and Export License (Paperless)
- Trademark Search (Thailand)
- Trademark Search (International)
- Trademark Registration (Thailand)
- Trademark Registration (International)
- Company Limited Establishment with foreign assistant
- VAT Registration
- Employer Registration with Social Security Office
- Changing Director / Shareholders
- Changing Company Address (Price per each government)
- Request Tax ID for foreign at Revenue Department
- Request Tax ID for foreign at Social Security
- Tourist Business Licenses
- BOI Registration
- Foreign Business Licenses (FBL)
HR & Payroll Services
We provide HR consulting team to help you to accumulate policies, orientations, expectations, onboarding instructions and essential hubs for your teams and employees to get career development resources, benefits enrollment, time reporting and more services which would be modified to your evolving business needs.
We’ll also provide payroll services such as;
- Preparation of monthly payroll report and monthly tax computation
- Preparation and sending E-Payroll slips to employee’s email
- Preparation and submission of monthly personal withholding tax return form (PND.1)
- Preparation and submission of monthly Social Security Fund
- Preparation and submission of annual summary of personal withholding tax returns form (PND.1 Kor)
- Preparation and submission of annual social security fund declaration and annual wage declaration (Kor Thor 20 Kor)
- Social Security Fund (SPS1-10)
- Payroll e-slips provided at the end of each month
- Payroll payment import file for your online banking
- Registration or deregistration of employees to the Social Security (mandatory)
- Mobile application for Leave Management (optional)
- Annual Workman Fund Compensation (mandatory)
- Annual PND1 A and preparation of the Form 50BIS (mandatory)
- Annual Personal Income Tax -PND.91 (optional)
Visa And Work Permit Services
We provide type of Visa and Work permit as following;
- Visa Non-Immigration B (3 months for First time) and Work Permit (6 Months or 1 Year)
- Visa Extension Non-Immigration B for 1 year
- Renew Work Permit 6 months or 1 year
- Apply re-entry Multiple visa
- Notification Residence for foreigner (TM.30)
- Internal audits evaluate a company’s internal controls, including its corporate governance and accounting processes.
- Types of internal audits include financial, operational, compliance, environmental, IT, or for a very specific purpose.
- Internal audits provide management and the board of directors with a value-added service where flaws in a process may be caught and corrected prior to external audits.
- Internal audits may enhance the efficiency of operations, motivate employees to adhere to company policy, and allow management to explore specific areas of its operations.