Thai Lawyers Limited assists many foreign companies including Myanmar businesses to register a company in Thailand. Once registered, they should be aware of the filing requirements, both monthly and yearly.
We summarize the filing requirements for Myanmar businesses and companies from other countries that operate in Thailand below but please note that you may be required to file more forms depending on the type of business that you are doing here.
Monthly
- Withholding tax returns and VAT returns
Within the 15th of each month, withholding tax returns (PND 1, 3, 53 and 54, if any) and VAT returns (PP. 30 and 36) of the previous month has to be filed with the Revenue Department:-
- PND 1 shows all the taxes withheld from the salaries of employees
- PND 3 shows all the taxes withheld from individual suppliers
- PND 53 shows all the taxes withheld from suppliers that are juristic persons or companies
- PND 54 shows all the taxes withheld from paying your oversea-based suppliers
Note: If the company is not registered to file taxes online yet, deadline for filing the withholding tax returns is on the 7th of the following month.
If the foreign businesses or Myanmar company is already registered in the VAT system:
- PP 30 is the Value Added Tax (VAT) returns that summarizes the input and output VAT of the previous month. You have to file this form even if there are no transactions.
- PP 36 is the Value Added Tax returns to be filed on behalf of oversea-based suppliers. Because the overseas suppliers are not registered in the Thai VAT system, when you pay them, you have to submit its 7% VAT on their behalf. The VAT amount will become your company’s input VAT in the month that you submit it. You can claim back this VAT later.
- Social Security Fund contribution – once you have hired employees, you have to register them into the Social Security system. You have to file the monthly social security form “Sor Por Sor 1-10” with the Social Security Office within the 15th of the month. This form shows all the SSO contribution deducted from the salary of each employee and the equal contribution made by the company from the previous month.
Yearly
- Within 31 January, you have to file the form Kor Tor 26 Kor “Workmen’s Compensation Fund” with the Social Security Office. This form shows the estimated fund for the year
- Within 28th February, you have to file the form Kor Tor 20 “Employees’ Compensation Sheet” for the year with attached Kor Tor 20 of the previous year with the Social Security Office
- Within 7th February, you have to file the form “Information of Foreign Employees’ income” (PND 1 Kor) with the Revenue Department together with the monthly PND 1 of January of the current year. Moreover, if there is any foreign employee who joined and resigned during the year, this form must be filed within the 7th of the month following the transaction
- Annual General Meeting (AGM) is to be held within 4 months after the accounting year-end to approve the prior year’s financial statements
- Within one month after the AGM, you have to file the audited financial statements and the copy of list of shareholders as of the AGM date with the Department of Business Development, Ministry of Commerce
- Within 150 days after the accounting year-end, you have to file the audited financial statements and Corporate Income Tax Returns (PND 50) with the Revenue Department
- Within 2 months after the first half of your accounting year, you have to file the Half Year Income Tax Returns or Interim Corporate Tax Returns (PND 51) with the Revenue Department
Your Thai accountant should know everything about these filing requirements. Good Thai accounting firms like MSNA know how to file these forms. If you want us to handle your accounting, tax returns preparations and filings and payroll, contact MSNA group for more information.
Contact Thai Lawyers to register your Myanmar business in Thailand.