In Thailand Law, all juristic companies, partnerships, branches of foreign companies and joint ventures are obligated to prepare financial statements for each accounting period. The financial statements must be audited and subjected to the opinion of a certified Thai auditor (CPA). And BOI promoted companies need the statutory audit every year like their non-BOI promoted companies.
The BOI companies that are granted a corporate income tax exemption they must have complied with the conditions specific to their promoted projects. In filing for the BOI’s approval to exercise such right and they must need an auditor (CPA) to audit their BOI operation to make sure that they have complied with the all conditions set out by the BOI raw. The auditor can be a different person from the one that performs the statutory audit for the company.
Required documents of Annual financial statements audit.
- BOI Promotion Certificate.
- Income and expenses for the year Ex. Government receipts plus the form PND 1, 3, 53., PP 30, 36 and Social Fund.
- Bank statement for every corporate bank account (current, saving account) ,etc.
- Inventory (if any), Stock Cards, etc.
- Lease agreement, Services agreement, agreement import machine and raw material, etc.
- Half Year Report. (PND 51)
- Annual Audit report for the previous year (Financial Statement, Auditor Report, PND 50 including General Ledger (GL), Trial Balance (TB) and Assets Register)
For the audit for BOI promotion companies has difference procedures than non-BOI promotion companies.
