Forum Discussion

Sam_LR's avatar
Sam_LR
Super Partner
8 years ago

Foreign characters in Exo Business and - Companies operating in Thailand

Does anyone look after any companies operating in Thailand?  On any product? :-)

 

Specifically, does anyone know if are there any critical compliance constraints or idiosyncrasies that would present a barrier to running MYOB or any accounting software products in general?  Apparently, a local Thai accounting firm is indicating that there is a formal list of compliance tested accounting software products. However, I can't find any mention of this.   I can imagine that like ANZ they might well have software developers' interface standard for electronic VAT return submission, but this wouldn't (i imagine) inhibit manual submission methods.  

 

Anecdotally I see Thailand businesses being quite uninhibited in sourcing a wide variety of popular off-the-shelf accounting software products from Australasia, Us and Europe.  I can't find any info, or get any response from the  Thai Federation of Accountants (FAP) channels, they seem more focused on adherence to international standards IFRS rather than codifying localised rules or constraints. 

 

Another source https://www.iasplus.com/en/jurisdictions/asia/thailand also gives me little to go on. 

 

Anyone in this community of experts who has any pointers,  I would be grateful to hear from you as I am drawing a blank at present.  

 

 

 

 

  • Got a helpful and timely response from the Federation of Accounting Practitioners in Thailand :-)

     

    Dear Sam,
    There is no list of certified accounting software available in Thailand. The users can buy any software applications that suit their business.

    Best Regards.

    E-Mail : info@fap.or.th

  • Sam_LR's avatar
    Sam_LR
    Super Partner

    Got a helpful and timely response from the Federation of Accounting Practitioners in Thailand :-)

     

    Dear Sam,
    There is no list of certified accounting software available in Thailand. The users can buy any software applications that suit their business.

    Best Regards.

    E-Mail : info@fap.or.th

  • Hey Sam,

     

    My previous employer (Exact) was Thailand compliant and also made the software available in the local language. 

     

    From memory its Tax that is you have to watch out for, they have Thai witholding Tax, businesses require a Thai tax identification number (13 digits I think), the VAT reporting and rounding. 

     

    I do not believe there has been any variation since 2014 but this article could still be valid.

     

    http://www.mazars.co.th/Home/Doing-Business-in-Thailand/Tax/New-VAT-Compliance-Rules-effective-2014

     

    Carl

     

    PS - I am up for a fact finding mission with you if required !!

    • Sam_LR's avatar
      Sam_LR
      Super Partner

      Cheers Carl, Everything seems usual, and well within the capabilities of Exo Business with extra fields if required (probably not)  and tax key point configuration. 

       

      Everything seems usual, and well within the capabilities of Exo Business with extra fields if required (probably not)  and tax key point configuration. 

       

      The Key fact is that, from the horse's mouth below,  there is no such list of exclusive compliant software vendors, which was the hypothesis that was being proposed.

       

      Thanks for watching  :-) 

      • DCheer's avatar
        DCheer
        Valued Partner

        Does your prospect have a requirement to store/display non-English characters in EXO?