Foreigners doing business in Thailand need Thai accountants who speak good English to be able to communicate with them and consult with them for the best use of accounting and tax planning and avoiding costly mistakes. Because of being naive, many foreigners in Thailand trust their Thai accountants even though they cannot communicate with them efficiently. Many more just want to go the cheap way because they think accounting does not make money and they choose non English speakers for they charge lower fees. If you are a foreigner doing business in Thailand or thinking of establishing a business in Thailand, you really want to consider the popular saying; you get what you pay for. The truth is accounting and especially knowledgeable Thai accountants who speak good English can help you save a lot of money down the road especially by tax planning and making sure you pay your tax due correctly to avoid hefty but unnecessary interests and tax fines.
One of our clients just referred one of his friends to us, who has a manufacturing business in a rural area of Thailand. His company has been having tax problems with the Thai tax authority and the court has ordered the company to pay millions of Thai Baht in taxes and fines. The root of the problem is that their accountant is not knowledgeable and the client could never tell because the accountant does not speak enough English. When he found out the mistakes he made, he could not communicate the problems in English to the management who could have otherwise made better decisions on how to deal with the problems. He chose to fix things in his own way which later on proved to make the problems worse and more costly. This client will have to sell his manufacturing facilities and property to pay for the taxes and fines. The lesson learned here is that foreigners doing business in Thailand need English speaking Thai accountants as part of their successful business undertaking.
MSNA is a English speaking Thai accounting firm based in Bangkok, Thailand, who works with foreign businesses from all over the world. Our Thai accountants are knowledgeable and speak English fluently. Please contact MSNA Ltd. for accounting and tax services.