Accounting

You will find here a series of summaries providing an overview of useful accounting regulations, processes and accounting issues for Doing Business in Thailand.

New TFRS and TAS as at January 2019

We set below the new Thai Financial Reporting Standards (“TFRS”) and Thai Accounting Standards (“TAS”) that have been announced, and which became effective in Thailand on from 1 January 2019, or which will become effective in the future.

New TFRS on Financial Instruments

In its October 2018 newsletter, the Federation of Accounting Professions (“FAP”) stated that the Government Gazette has announced new Thai Financial Reporting Standards (TFRS) on Financial Instruments on 21 September 2018. These standards consist of the following:

TFRS 16 Leases

The August 2018 newsletter of the Federation of Accounting Professions (“FAP”) has stated that the Government Gazette is set to announce a tentative draft of TFRS 16, and this standard will be effective for annual reporting periods beginning on or after 1 January 2020.

Share