Accounting Section - Doing Business
Explore a series of summaries providing an overview of useful accounting regulations, processes and accounting issues for doing business in Thailand.
Accounting for employee benefits under TFRS for NPAEs: Common pitfalls and practical guidance for SMEs
2 October 2025
For many Thai SMEs, accounting for employee benefits—especially long-term obligations such as retirement severance—remains a source of confusion. While TFRS for NPAEs is simpler than full TFRS (TAS 19), errors are still common, often due to outdated assumptions or failure to apply key requirements.
Accounting for loan term modifications under TFRS for NPAEs
22 August 2025
In the current economic climate, many businesses are renegotiating the terms of loan agreements with financial institutions. These changes—such as revised payment schedules or interest rate adjustments—can significantly affect the accounting treatment of liabilities.
TFRS 18 and TFRS 19: Key developments in presentation and disclosure
22 July 2025
In April 2025, the Thai Federation of Accounting Professions (TFAC) released exposure drafts for two new Thai Financial Reporting Standards (TFRS)
DBD proposes enhanced qualifications for accountants to prevent nominee practices
On 28 April 2025, the Department of Business Development (DBD), under the Ministry of Commerce, announced a draft regulation to revise the qualifications for accountants in Thailand. The draft introduces stricter eligibility conditions aimed at deterring accountants from participating in or facilitating nominee arrangements for foreign businesses—an issue identified as undermining fair competition.
Potential impacts of U.S. trade and tax policy shifts: Accounting considerations for Thai companies
The United States government’s announcements in recent months indicates that key policy changes may be introduced under a renewed economic agenda. These include the potential reintroduction of tariffs, heightened trade restrictions, and corporate tax reforms, which could affect global business operations—including those of Thai companies with exposure to the U.S. market.