Date: August 12, 2026

My company had no income this year. Do I still need to file accounts?

Yes. Even if your company had no income or no trading activity, it must still maintain accounting records, file its tax returns, and prepare audited financial statements. Thailand does not recognise a dormant company status and does not exempt businesses from their accounting compliance obligations.

What We See In Practice

My company never traded, so surely I don't have to file anything?

WHAT CLIENTS ASK US

This is one of the most common misunderstandings we come across. Many business owners assume that if their company had no revenue or business activity, there is nothing to report. In Thailand, that’s not the case. Companies are still expected to complete their accounting and filing obligations, just like any other company, even if they have been inactive for the entire year.

Every Thai company must keep proper accounting records and complete its annual accounting and tax obligations, even if it has not traded or earned any income during the year. This includes preparing financial statements, having them audited by a licensed auditor, approved by the shareholders at the Annual General Meeting (AGM), and filing the required corporate income tax returns. These requirements apply every year from the date the company is incorporated until it is formally dissolved.

Allowing a company to remain inactive without completing its annual accounting and tax obligations can lead to significant costs. Failure to meet filing deadlines could result in penalties, fines, and additional charges, as well as the need to invest further time and resources to fix the situation.

Author: Vincent Birot

Vincent Birot is a French-trained international business lawyer based in Bangkok. He holds a Master’s degree in International Business Law from La Sorbonne and an LL.M in International Commercial Law from the University of Exeter (UK), and has passed the Paris Bar examination. He is the Founder of Belaws, a one-stop platform for legal and corporate matters, facilitating access to trusted legal and business professionals who deliver compliant, practical solutions aligned with local laws and on-the-ground realities. He has advised foreign investors for over 10 years on corporate structuring, BOI promotion, cross-border tax, and regulatory compliance in Thailand. He previously served as Vice President of the Franco-Thai Chamber of Commerce and is a founding member of French Tech Bangkok.