Service guide
Financial statements in Thailand: the Accounting Act's five-month deadline, TFRS vs TFRS for NPAEs, the audit and DBD filing chain, and where a firm helps.
3 firms on Justenda. Compare firms
Talk to someone who does this every week. Verified firms reply with how they would handle your case and what it costs. Free, no account needed.
Financial statements in Thailand are a statutory product, not just a management report. Under Section 11 of the Accounting Act B.E. 2543 (2000), a business charged with the accounting duty must prepare a financial statement and submit it within five months from the date of closure of accounts. For a limited company or public limited company established under Thai law, submission is due within one month from the date the statement is approved at the general meeting of shareholders.
The same section sets the quality bar: a financial statement must be audited and accompanied by an opinion of a certified auditor. The only carve-out is for small registered partnerships under thresholds set by Ministerial Regulation, and a firm confirms whether a specific partnership qualifies.
Most companies hand this whole chain to one of the accounting firms in Thailand that already keep their books, because the statements are only as good as the ledgers behind them.
Which reporting framework applies
The Federation of Accounting Professions (TFAC) publishes both frameworks. Which one a specific company uses depends on whether it is publicly accountable, and a firm confirms the right fit.
| Built for | In practice | |
|---|---|---|
| TFRS (full) | Publicly accountable entities such as listed companies | Tracks international financial reporting standards; heavier disclosure and measurement requirements |
| TFRS for NPAEs | Non-publicly accountable entities, which covers most private Thai companies | A lighter standard for entities outside the public markets; the usual basis for a typical private company's statements |
Source: Federation of Accounting Professions, TFRS for NPAEs
Checked August 2026
Your options
A first shortlist from 3 firms on Justenda. Compare them, then message one or several at once.
International boutique law firm in Bangkok and Phuket, providing legal and tax services to investors, businesses, and private clients across Thailand
฿7,000–12,000 / hour
Cloud-based accounting, tax filing & payroll for businesses in Thailand. All-inclusive pricing, zero hidden fees, 24/7 online access.
Full service accountancy practice registered with the Thai Federation of Accounting Professions delivering accountancy and tax services in English.
The statements do not stand alone. Once prepared, they go to a licensed auditor for the statutory audit, because the Act requires the filed statement to carry a certified auditor's opinion. The audited statements then go to the shareholders for approval at the general meeting, and after approval a limited company submits them within one month, in practice through the DBD's electronic submission channel, DBD e-Filing.
The tax calendar runs in parallel: the annual corporate income tax return is due within 150 days from the closing date of the accounting period, and it is prepared from the same year-end numbers, so corporate tax filing and the statements have to agree.
The practical consequence: a December year end compresses bookkeeping close, audit, shareholder approval, DBD submission, and the tax return into a few months. Companies that start the close in January make every later deadline; companies that start in April do not.
Close the books
The firm finalises the year in the ledgers and drafts the statements under the applicable framework. Clean monthly bookkeeping through the year makes this a short step instead of a rescue project.
Pass the audit
A licensed auditor examines the statements and issues the opinion the Accounting Act requires. The preparing firm answers the auditor's questions and clears adjustments so the final numbers hold.
Get shareholder approval
The audited statements go to the general meeting for approval. For a limited company, the one-month submission clock runs from this approval date.
Submit and reconcile the tax return
The approved statements are submitted to the Department of Business Development, and the annual tax return is prepared from the same figures within its 150-day window.
A typical engagement takes the closed books and delivers filed statements: drafting under the right framework, preparing the notes and required particulars, managing the auditor relationship, preparing the shareholder-approval paperwork, and handling the DBD submission. The auditor must be independent, so the same person cannot prepare and audit the statements; most companies pair a preparing firm with a separate audit firm.
Firms price this as year-end work, often bundled with the monthly accounting. Compare what the fee includes: audit coordination and the DBD submission are the steps that eat time when they go wrong.
This page is general information, not legal advice. Deadlines, rules, and procedures change; for a specific company, speak with a qualified professional.
Also listed
Every one of these is verified on Justenda and can take on financial statements work in Thailand.
International boutique law firm in Bangkok and Phuket, providing legal and tax services to investors, businesses, and private clients across Thailand
฿7,000–12,000 / hour
Cloud-based accounting, tax filing & payroll for businesses in Thailand. All-inclusive pricing, zero hidden fees, 24/7 online access.
Full service accountancy practice registered with the Thai Federation of Accounting Professions delivering accountancy and tax services in English.
Next step
Send one focused inquiry with your situation, timing, and preferred language. Firms reply with how they would handle it and what it costs, so you can compare answers instead of chasing quotes.
Common questions
All firms
International boutique law firm in Bangkok and Phuket, providing legal and tax services to investors, businesses, and private clients across Thailand
฿7,000–12,000 / hour
Cloud-based accounting, tax filing & payroll for businesses in Thailand. All-inclusive pricing, zero hidden fees, 24/7 online access.
Full service accountancy practice registered with the Thai Federation of Accounting Professions delivering accountancy and tax services in English.
Practical explainers on this topic: general information, not professional advice.
Business & Corporate
The BOI certificate is the start of the work, not the end of it. What promoted companies report, when, and how the tax exemption is actually claimed.
Business & Corporate
What the Accounting Act actually requires of a Thai company's books: who must keep them, in what language, for how long, and what happens when a company doesn't.
Business & Corporate
Every deadline a Thai limited company faces, in order: the monthly filings, the year-end close, the audit, the AGM, the DBD filings and the tax return.
In this practice area
