What is the Duration of Financial Statements in Thailand?
In Thailand, most companies follow the standard financial year from 1 January to 31 December. This is the typical accounting period used for preparing annual financial statements and filing them with the Department of Business Development (DBD) and the Revenue Department.
However, this standard duration is not mandatory for every business. Companies can choose a different financial year if needed — for example, 1 April to 31 March or 1 July to 30 June — depending on business cycles, group company reporting requirements, or other operational needs.
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Legal Basis for Financial Statement Duration
The duration of a company’s financial statements is officially stated in the Articles of Association (AOA) under the section relating to the financial statement or accounting period.
When a company is first registered, it must include its chosen accounting period in its AOA. If the company later decides to change its financial year, it must:
Pass a shareholders’ resolution to amend the AOA.
Submit the amendment to the DBD for approval.
Notify the Revenue Department of the change.
Key Compliance Deadlines in Thailand
Regardless of the chosen financial year, Thai companies must:
Prepare their financial statements within 4 months after the year-end.
Hold an Annual General Meeting (AGM) to approve the financial statements.
File the approved financial statements with the DBD within 1 month after the AGM.
Submit corporate income tax returns to the Revenue Department as required.
The financial statement duration in Thailand is usually 1 January – 31 December, but companies can choose a different period if it better suits their operations. This duration is legally recorded in the company’s Articles of Association, and any changes must go through formal amendment procedures.
By understanding the rules and deadlines, businesses can ensure smooth compliance and avoid penalties.
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