On 17 May 2017, the Revenue Department issued Notification of the Director-General of Revenue Number 296, which requires corporate income taxpayers to file audited financial statements with the Revenue Department office of the district in which the taxpayer’s office is located, even if the taxpayer has filed the year-end corporate income tax return (Form Phor. Ngor. Dhor. 50) electronically.
Keywords: Mazars, Thailand, Tax, Revenue Department, Financial Statements
2 June 2017
The audited financial statements must be filed within 150 days of the last date of the accounting period. This law shall apply to accounting periods where the filing deadline is 25 February 2016 and onward. Failure to file the audited financial statements, as required above, will be subject to a fine of no more than 2,000 baht.
However, the Revenue Department recently issued another unofficial rule which allows the financial statements, where the normal filing deadline is 25 February 2016 through 6 June 2018, to be filed electronically from 1 November 2017 through 7 June 2018 (no paper filing is required). In addition, if paper of such financial statements have already been filed with the Revenue Department district office, they do not need to be filed electronically.