Filing financial statements and shareholders’ list
On 28 December 2020, the Department of Business Development (“DBD”) issued guidelines on filing financial statements (“FS”) as of 31 December 2020 and the shareholders’ list (“BOJ 5”).
Keywords: Mazars, Thailand, Legal, DBD, BOJ5, Financial statements, COVID-19
23 March 2021
Entities | Timeframe | Penalties | ||||
Arrangement of the AGM to approve the FS | Submission | Late arrangement of the AGM | Late submission | |||
BOJ 5 | FS | BOJ 5 | FS | |||
Foreign legal entities | X | X | / Within 5 months of the fiscal year-end *By 31 May 2021 | X | X | / Not over 50,000 baht |
Thai limited companies | / Within 4 months of the fiscal year-end *By 30 April 2021 | / Within 14 days of the shareholders’ meeting *By 14 May 2021 | / Within 1 month of the shareholders’ meeting *By 31 May 2021 | / Not over 20,000 baht | / Not over 10,000 baht | / Not over 50,000 baht |
“AGM” – Annual General Meeting of Shareholders X – not applicable / – required | ||||||
Due to the disruption of business from the COVID-19 outbreak, if a Thai limited company cannot arrange for a Board of Directors Meeting and Shareholders’ Meeting to be held in person, the company can arrange for meetings to be held through electronic devices, on the condition that the e-meetings meet the criteria set out by the Emergency Decree regarding e-meetings, 2563 B.E. (2020).
For more details on e-meetings, refer to the Mazars’ article here.
Reference: DBD’s website
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