How Much Does Accounting Cost in Thailand?

One of the first questions foreign business owners ask: "How much will accounting cost?" Here's the complete breakdown.

 

Monthly Accounting Fees

Tier 1: Basic Compliance (8,000-12,000 THB/month)

What you get:

• Monthly bookkeeping
• VAT filing (if applicable)
• Withholding tax filing
• Annual corporate tax return
• Basic financial statements

Best for:

• Startups with < 5M THB revenue
• Simple business models
• Few transactions (< 50/month)

 

Tier 2: Standard Service (12,000-20,000 THB/month)

What you get:

• Full bookkeeping
• All tax filings
• Payroll (up to 10 employees)
• Monthly financial reports
• Email/phone support
• Quarterly reviews

Best for:

• Growing businesses (5-30M THB revenue)
• 5-15 employees
• Moderate complexity

 

Tier 3: Comprehensive Service (20,000-40,000 THB/month)

What you get:

• Advanced bookkeeping
• All compliance
• Unlimited payroll
• Detailed financial analysis
• Tax planning
• Audit support
• Dedicated account manager

Best for:

• Established businesses (> 30M THB revenue)
• 15+ employees
• Complex operations

 

Additional One-Time Costs

Company Registration

Cost: 30,000-50,000 THB

Includes:

• DBD registration
• Tax ID application
• VAT registration
• Social security setup

 

BOI Application

Cost: 100,000-300,000 THB

Includes:

• Eligibility assessment
• Application preparation
• Document compilation
• Submission and follow-up

Value: Potential 6-16M THB tax savings over 8 years

 

Annual Audit

Cost: 30,000-150,000 THB

Varies by:

• Company size
• Revenue
• Complexity
• Auditor reputation

Required when:

• Revenue > 30M THB (varies)
• BOI-promoted companies
• Certain business types

 

Work Permit Support

Cost: 15,000-30,000 THB per permit

Includes:

• Document preparation
• Submission to Labor Department
• Follow-up

 

Cost Factors

Transaction Volume

More transactions = higher cost:

• < 50 transactions/month: Base rate
• 50-200 transactions/month: +20-30%

• 200 transactions/month: +50-100%

 

Number of Employees

Payroll processing costs:

• 1-5 employees: Included in base
• 6-15 employees: +2,000-5,000 THB/month
• 16+ employees: +5,000-10,000 THB/month

 

Business Complexity

Simple: Single revenue stream, few expenses Complex: Multiple revenue streams, international transactions, BOI activities

Complexity premium: 20-50% above base rate

 

Language Requirements

• Thai-only service: Standard rate
• English support: +10-20%
• Other languages: +20-30%

 

Value Comparison

DIY Accounting

Cost: Your time + software (2,000-5,000 THB/month)

Risks:

• Compliance errors (penalties 10,000-100,000+ THB)
• Missed deductions (lost savings 50,000-500,000+ THB/year)
• Audit issues (stress + potential fines)

Time investment: 20-40 hours/month

 

Professional Accounting

Cost: 12,000-20,000 THB/month

Benefits:

• Compliance guaranteed
• Tax optimization
• Peace of mind
• Time savings (20-40 hours/month)

Your hourly rate: If > 300-500 THB/hour, professional accounting pays for itself

 

Real Cost-Benefit Example

Scenario: Software Company

Revenue: 15M THB/year Employees: 8 people

Accounting cost:

• Monthly fee: 15,000 THB
• Annual audit: 50,000 THB
• Total annual: 230,000 THB

Value received:

• Tax compliance: Avoided penalties (potential 50,000-200,000 THB)
• 200% deductions claimed: Training 100K → 200K deduction = 20K tax saved
• R&D deductions: 200K → 400K deduction = 40K tax saved
• Proper BOI accounting: Maintained 0% tax status (saved 3M THB)
• Time saved: 480 hours/year (worth 144,000-240,000 THB)

ROI: 1,300-1,500% return on accounting investment

 

How to Budget

Year 1 (Setup)

• Company registration: 40,000 THB
• Monthly accounting × 12: 120,000-180,000 THB
• BOI application (if applicable): 150,000 THB
• Total: 310,000-370,000 THB

 

Year 2+ (Ongoing)

• Monthly accounting × 12: 144,000-240,000 THB
• Annual audit: 40,000-60,000 THB
• Total: 184,000-300,000 THB/year

 

Negotiation Tips

Get Multiple Quotes

• Contact 3-5 firms
• Compare services included
• Check references

 

Annual Contract Discount

• Monthly: 15,000 THB
• Annual prepay: 160,000 THB (11% discount)

 

Bundle Services

• Accounting + BOI application: 10-15% discount
• Accounting + company registration: 5-10% discount

 

Red Flags (Too Cheap)

Beware of firms charging < 6,000 THB/month:

• May cut corners on compliance
• Limited support
• High staff turnover
• Potential quality issues

Remember: Cheap accounting can cost you far more in penalties and missed opportunities.

 

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Related Service: Accounting & Tax Compliance — Transparent pricing, comprehensive service, proven ROI.