Bangkok: Deputy Government Spokesperson Mr. Anukul Prueksanusak has issued a clear directive to juristic persons, emphasizing the urgent need to expedite the submission of financial statements. A failure to comply with this requirement will lead to legal penalties and the revocation of the entity's status.
According to Thai News Agency, the Department of Business Development, Ministry of Commerce, reported that as of April 30, 2025, only 140,000 out of 860,000 juristic persons had submitted their financial statements, leaving a significant 83%, or 720,000, yet to comply. Mr. Anukul stressed the importance of adhering to the legal time frame, which is less than one month away, to support modern and efficient trade and investment activities.
Mr. Anukul further explained that despite the varying accounting periods for different types of juristic persons, all are required by law to submit their financial statements within the stipulated time. Delays or failures in submission will incur fines. Limited companies and public limited companies with accounting periods ending on December 31, 2024, must submit their financial statements by June 4, 2025, following a shareholders' meeting by April 30, 2025. Similarly, registered partnerships, joint ventures, and foreign juristic persons with accounting periods ending on December 31, 2025, have until June 4, 2025, to comply. Trade associations and Chambers of Commerce with fiscal years ending on December 31, 2024, must submit by May 30, 2025, if meetings are held on April 30, 2025.
To streamline the submission process, the government recommends using the DBD e-Filing system and advises early notification of remittances to avoid system congestion. Mr. Anukul highlighted that financial statements are crucial for evaluating business performance and are vital for decision-making in trade and investment. Timely submission enhances business credibility and stability. He warned that failure to submit for more than three consecutive years will lead to deregistration as a deserted juristic person, barring further business activities.