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 sales with a right of return
Many companies allow customers to return goods for any reason within a specified timeframe, even after the goods have been transferred to the customer. A right to return may be given for various reasons, such as customer dissatisfaction with the product or the fact that the customer changed his mind.
Revaluation to be allowed under TFRS for NPAEs
As a result of the COVID-19 pandemic, the Federation of Accounting Professions (TFAC) has evaluated the effect that it might have on non-publicly accountable entities. One issue that TFAC is aware of is the accounting principles for recognizing property, plant, and equipment, as well as investment property as assets under the Thai Financial Reporting Standards for Non-Publicly Accountable Entities (“TFRS for NPAEs”).
Exposure Draft of Thai Standards on Auditing 540
On 24 January 2020, The Federation of Accounting Professions (“TFAC”) released the exposure draft (“ED”) of Thai Standard on Auditing (“TSA”) 540 (revised) for public hearing and comments.
Recognition of related-party recharges
Tax coupons for duty and tax paid on exported goods in Thailand
How to use tax coupons for duty and tax paid on exported goods in Thailand.