In the world full of apps, business owners still prefer hiring an accountant. Simply because people really don’t want to mess with numbers. Moreover, it cannot be always expected from an entrepreneur to have knowledge of accounting. Besides, when you make a decision to run a company in a foreign land, the job multiplies. In fact, it may not be possible for an expat to be fully aware of the existing taxes in the country.
We all are aware of how tax codes can get onto our nerves and not having to pay the right taxes for the business may put you in danger, compelling you to pay fines or penalties as a result. Having an accountant in Thailand by your side will keep you informed about the deductions and tax credits allotted to your business.
Aside, when you are in need of secured business loans, banks will require you to pay audited financial statements to approve loan requests. And here your accountant can help in the process to qualify the financial requirements. Why only this? Management of company’s books can equally be time-consuming, particularly when you already have the entire business to manage. Accounting service in Thailand can use their years of experience and skills to keep your business’ books.
Not only these, they can be an excellent financial advisor for your company. If you see your business’ profit isn’t increasing, your accountant may analyze the situation, and look at the costs overhead so as to help you in finding and then troubleshooting the problems.
So, What Type of Accounting Services You can Expect?
The list includes;
- Value Added Tax
- Creating Monthly Reports
- Annual Tax Return
- Record Accounting Transactions
- Withholding Tax
- Withholding Tax Return
- Schedules for Financial Statements
- Mid-Year Tax Return
- Bank Accounting Set Up
- Preparation of Checks
- Annual Tax Return
- Submitting Annual Financial Statement to the Thai Government
- Payment Transfers
