In Thailand, accounting rules are controlled by the Ministry of Trade.
The American accounting practices are recognized and accepted in Thailand.
General accounting principles
The period of an accounting year is 12 months.
Each entry can be registered in a foreign language.
The code allows to use various depreciation rates according to the nature and to the assets classification.
On the other hand, depreciation rate used in the various accounting books, must be used in the tax return of the income tax.
The pension funds taxes are not deductible, unless they are redistributed to the employees or approved by the managing department.
The dividends of actions are taxable as common dividends and can be declared only if there is a real increase of the capital.