Running a Thai company in Phuket is genuinely manageable once you understand the compliance calendar. Most expat business owners I know didn't get into trouble because of anything dramatic — they missed a filing deadline they didn't know existed, or handed everything to an accountant without understanding what was actually being filed and when. The Revenue Department and DBD don't care that you didn't know.
This guide covers every annual filing requirement for a Thai Limited Company based in Phuket — what's required, when it's due, what it costs if you miss it, and what to look for in a Phuket accountant who'll keep you on track.
Thai Company Annual Compliance — Key Deadlines 2026
- DBD annual filing (financial statements + shareholder list): Within 150 days of financial year end (30 May for December year end)
- PND 50 (Annual CIT return): Same deadline as DBD — 30 May for December year end
- PND 51 (Half-year CIT estimate): By 31 August (for January–June half year)
- PP.30 (Monthly VAT return — if VAT registered): By 15th of following month
- PND 1 (Monthly withholding tax — salary): By 7th of following month
- Social Security monthly contribution: By 15th of following month
- Audit requirement: All Thai companies require annual CPA audit
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The Annual Compliance Calendar for Phuket Thai Companies
Most Thai companies registered in Phuket use December 31 as their financial year end. Here's the complete filing calendar for those companies.
| Month | Filing Required | Deadline | Penalty for Late Filing |
|---|---|---|---|
| Monthly | PND 1 (Withholding tax — employee salaries) | 7th of following month | 1.5%/month surcharge + fine |
| Monthly (if VAT registered) | PP.30 (VAT return) | 15th of following month | 1.5%/month surcharge + 200% penalty |
| Monthly | Social Security contribution (SSO) | 15th of following month | 1.5%/month surcharge |
| August | PND 51 (Half-year CIT estimate) | 31 August | 20% penalty if estimate is too low vs actual |
| Jan–Mar | Accounts preparation with CPA audit | Audit completed before May | Cannot file without audited accounts |
| By 30 May | DBD annual filing (financial statements + shareholder list) | 150 days after Dec 31 | Up to 100,000 THB fine for directors |
| By 30 May | PND 50 (Annual Corporate Income Tax return) | 150 days after Dec 31 | 1.5%/month + 100–200% penalty on underpaid tax |
Understanding Corporate Income Tax (CIT) in Phuket
Corporate Income Tax (CIT) is paid on net profit — revenue minus allowable expenses. The standard rate is 20%, but SMEs get lower rates. Most expat-owned businesses in Phuket qualify as SMEs (paid-up capital ≤ 5 million THB, annual revenue ≤ 30 million THB).
SME CIT rates 2026
- Net profit 0–300,000 THB: 0% — yes, genuinely zero
- Net profit 300,001–3,000,000 THB: 15%
- Net profit above 3,000,000 THB: 20%
For a profitable small business making, say, 1.5 million THB net profit per year, the effective CIT is: zero on the first 300,000 THB + 15% on the remaining 1,200,000 THB = 180,000 THB. Not nothing, but far less than the headline 20% rate suggests. The half-year estimate (PND 51) requires you to estimate your full-year profit in August and pre-pay 50% of the estimated annual tax. If your actual profit ends up significantly higher than your estimate, a 20% penalty applies to the shortfall — so it's worth getting the August estimate reasonably accurate.
VAT: When You Need It and How It Works
VAT registration is mandatory once your annual revenue exceeds 1,800,000 THB. Below that threshold it's optional. The VAT rate in Thailand is 7% (technically 10% with a temporary reduction that has been in place for decades and keeps getting extended).
Once VAT-registered, you charge 7% VAT on your invoices and collect it on behalf of the Revenue Department. You can offset VAT you've paid on your business purchases (input VAT) against VAT you've collected (output VAT), paying only the net difference each month. This means VAT registration can actually be financially neutral or beneficial if you have significant business expenses with VAT.
If your business is approaching the 1.8 million THB revenue threshold, don't wait until you've exceeded it to register for VAT. Late registration carries penalties. Your accountant should monitor your cumulative revenue monthly and flag when registration is required. Some businesses proactively register for VAT below the threshold to enable input VAT recovery — useful if you're making significant capital investments in your first year.
The DBD Annual Filing: What Actually Gets Submitted
Every Thai company must file two documents with the DBD (Department of Business Development) each year. These are separate from your tax filings — they're regulatory filings to maintain your company's good standing.
1. Annual financial statements (งบการเงิน)
Balance sheet, profit and loss statement, notes to accounts — prepared according to Thai Financial Reporting Standards (TFRS) and audited by a Thai-licensed CPA. Must be approved at the annual shareholder meeting before submission. The shareholder meeting must be held within 4 months of year end (by April 30 for December year end companies). The accounts then need to be filed with the DBD within 1 month of the shareholder meeting (by May 30).
2. List of shareholders (บัญชีรายชื่อผู้ถือหุ้น)
A current list of all shareholders and their shareholdings, updated to show any transfers or changes during the year. This document is submitted alongside the financial statements. It's what Immigration checks when reviewing your company's compliance for work permit renewals — an outdated or missing shareholder list is a red flag that triggers questions.
The single most common accounting compliance problem I see among Phuket expat business owners: missing or late DBD filings. When your work permit renewal comes around, the Labour Department cross-checks with the DBD. A company with 2 years of missing annual filings raises red flags — and some officers have refused to process work permit renewals until the filings are brought current. The retroactive filing plus penalties cost far more than staying current would have.
Payroll: Monthly Withholding Tax and Social Security
If your company has employees — including yourself as a work permit holder drawing a salary — you have monthly payroll compliance obligations.
PND 1 — Personal Income Tax Withholding
Every month, you withhold income tax from employee salaries and remit it to the Revenue Department by the 7th of the following month. For a foreign director drawing 50,000 THB/month, the withholding tax is calculated on the personal income tax scale — but the company is responsible for deducting and remitting it. This is filed online via the Revenue Department's e-Tax system. Your accountant handles this as part of monthly bookkeeping.
Social Security (ประกันสังคม)
Both employer and employee contribute 5% of salary to the Social Security Fund (SSF), capped at a maximum contribution of 750 THB each per month (based on a maximum salary of 15,000 THB for contribution purposes). Total SSF cost to the company: 750 THB per employee per month. Filed and paid to the Social Security Office by the 15th of each month. Social Security gives employees (and contributing directors) access to Social Security medical coverage and various other benefits.
Audit Requirements: What Phuket Accountants Actually Do
All Thai companies require an annual audit by a Thai Certified Public Accountant (CPA). This is not optional regardless of company size — even a company with zero revenue needs audited accounts. The audit verifies that the financial statements fairly represent the company's financial position according to Thai accounting standards.
Finding a Phuket accountant for your Thai company
Phuket has a good selection of accountants familiar with expat-owned companies — particularly in Phuket Town, Chalong, and Bang Tao. Our guide to Phuket accountants for expats covers the best firms and what to expect. Key things to look for: licensed Thai CPAs on staff, experience with expat-owned companies and work permit related documentation, willingness to communicate in English, and transparent pricing.
| Service | Typical Cost (THB/year) | Notes |
|---|---|---|
| Monthly bookkeeping | 36,000–96,000 (3,000–8,000/month) | Includes bank reconciliation, expense recording, invoice management |
| Monthly VAT returns (PP.30) | Included or 500–1,500/month extra | If VAT registered |
| Monthly payroll (PND 1 + SSF) | Included or 1,000–2,000/month extra | For 1–5 employees |
| Half-year CIT estimate (PND 51) | 2,000–5,000 once | August filing |
| Annual audit | 15,000–50,000 | Scales with complexity and number of transactions |
| Annual CIT return (PND 50) | 5,000–15,000 | Prepared alongside audit |
| DBD annual filing | 2,000–5,000 | Filing the shareholder list and accounts with DBD |
| Annual total (typical small company) | 50,000–120,000 | All-inclusive accounting for small Phuket company |
Need a Phuket Accountant for Your Thai Company?
Our directory includes vetted Phuket accounting firms experienced with expat-owned companies, work permit documentation, and bilingual communication. Get a free quote for your company's annual accounting needs.
Find a Phuket Accountant →What Happens If You Don't File?
Missing filing deadlines is the most common compliance problem for expat business owners in Phuket. Here's the real-world impact.
- DBD filings: Company directors can be fined up to 100,000 THB each. The company also appears as non-compliant in DBD searches — visible to anyone who searches your company. This affects credibility with banks, suppliers, and landlords.
- Revenue Department: Late CIT returns trigger a 1.5% per month surcharge on any tax owed, plus penalties of 100–200% on underpaid tax. Even if you owe no tax, late filing has a minimum penalty.
- Work permit renewals: Immigration and the Labour Department check your company's compliance status. Missing DBD filings, missing PND 1 receipts, or Social Security arrears can all cause problems at renewal time.
- Bank account issues: Thai banks periodically review business accounts. A company with gaps in DBD filing history may find its account flagged or reviewed.
Also Useful: Phuket Company Registration Guide
If you're just starting out, our complete Thai company registration walkthrough covers the full setup process from name reservation to work permit.
Read the Guide →