On September 4, Thailand’s Department of Business Development (DBD) implemented the “DBD e-filing” system, which is used to file audited financial statements online. The DBD e-filing system entirely replaces the old system of submitting hardcopy documents, which will be phased out with effect in 2016.
All juristic persons with an accounting duty should acquire their DBD e-filing system username and password from the Business Information Division or the Office of Commercial Affairs, Regions 1 to 6, by September 30, 2015. The username and password replace the signatures that were previously required to be affixed on the annual audited financial statement, profit and loss account, copy of shareholders’ meeting report, Form Sor.BorChor 3, and Form Sor.BorChor 3/1.
Juristic persons can file their audited financial statements on their own via the DBD e-filing system within May 30, 2016. If a juristic person is not yet ready to use the DBD e-filing system, it may file hard copies of its audited financial statements directly or by post within the period of time prescribed by law, and then file its audited financial statements via the DBD e-filing system within 30 days of the end of the prescribed period to complete the process.
For example, audited financial statements for the year ending on December 31, 2015, may be filed in the following two ways:
- Those who are ready to use the DBD e-filing system: The audited financial statement should be filed via the DBD e-filing system by May 31, 2016.
- Those who are not yet ready to use the DBD e-filing system: The audited financial statement documents must be submitted by May 31, 2016, and then filed via the DBD e-filing system by June 30, 2016.
If you have any questions about the DBD e-filing system or your other corporate requirements under Thai law, please contact Piyanuj (Lui) Ratprasatporn at +66 2653 5533 or [email protected]