Which tax filings does a new Thai company face in its first year?
The monthly and annual filings a newly incorporated Thai company faces, who files what, the usual deadlines, and the penalties you avoid by starting bookkeeping on time.
Zura Labs & Business Hub Co., Ltd.
A Thai company must file even with no revenue. The recurring set is monthly withholding tax (PND 1, 3, 53), monthly VAT (PP 30) once VAT-registered, monthly social security contributions once you have staff, half-year corporate income tax (PND 51), and the annual PND 50 with audited financial statements filed to the DBD. Missing a nil return still carries a penalty.
Reviewed 2026-09-12 by the Zura Labs corporate services team.
- Withholding tax
- PND 1 (payroll), PND 3 (payments to individuals), PND 53 (payments to companies), filed monthly whenever withholding applies
- VAT
- PP 30 monthly once registered, with input and output tax reports
- Social security
- Monthly contribution filing and remittance for registered employees
- Corporate income tax
- PND 51 at the half-year point and PND 50 at year end
- Financial statements
- Must be audited by a licensed auditor and filed with the DBD every year, even with no revenue
- First accounting period
- Runs from the incorporation date to your chosen year end, and may not exceed 12 months
How this works in practice
- 01
Set the accounting year end
Choose one that suits your sales season and accounting capacity. The first period cannot exceed 12 months from incorporation.
- 02
Start bookkeeping from the first document
Keep receipts, tax invoices, transfer slips and contracts together from month one. Reconstructing them later is the cost founders underestimate.
- 03
Build the filing calendar and name an owner
Say who prepares each return, who approves it, and how many days ahead the reminder fires. For accounting clients we send the reminder every month before the due date.
- 04
Decide on VAT with the numbers in front of you
VAT lets you reclaim input tax and makes corporate customers easier to serve, but adds monthly filings and document discipline. Decide from your customer mix, not instinct.
- 05
Appoint the accountant and the auditor
Financial statements need a licensed auditor. Agree who audits early in the year to avoid the year-end queue.
Reasons this gets delayed or rejected
Assuming no revenue means no filing
Nil returns are still due. Failure to file carries a penalty per return and compounds monthly.
Not withholding tax on contractor payments
The company must withhold and remit. If it does not, the company bears the burden on assessment.
Mixing company and personal accounts
It makes closing the books hard, leaves items you cannot explain to the auditor, and hurts loan applications.
Keeping documents as scattered photos
Records must be retained by law and retrievable on request. Filing monthly from the start is cheaper than reconstructing later.
Answers to the questions we hear most
No revenue yet — do I still need bookkeeping?
Yes. A company must keep accounts, file on schedule and produce audited financial statements every year, even at zero revenue. Start-up costs should also be recorded properly, since some carry tax benefit into later years.
Should I register for VAT from day one?
It depends on your customers. If you sell to companies that need tax invoices, or you carry significant input tax, registering early usually pays. If you sell retail and are under the threshold, waiting reduces paperwork while you find your footing.
How large are late-filing penalties?
Penalties and surcharges depend on the return type, how late it is and the tax amount, so no single figure applies. What is certain is that they grow with time, and filing a nil return on schedule always costs less than leaving it. When we take over bookkeeping we review the filing history first.
Can I change accountants mid-year?
Yes. From the previous firm you need the latest ledgers, details of returns already filed, and all original documents. We reconcile opening balances and filing status before the first month so old issues do not surface at year end.
How should a director take money out correctly?
The usual routes are a director salary with withholding and social security, remuneration approved by resolution, and dividends once there are profits and the statutory reserve. Withdrawals without documentation become loans to the director, which brings tax consequences.
Is an auditor really required every year?
A private limited company needs audited financial statements filed every year, however small the business. We therefore plan the close in advance and book the auditor before the busy season.
This is general preparation information, not case-specific legal or accounting advice. Government fees, processing times and conditions change with official announcements. We review each guide on a schedule and show the review date on the page.