As a busy professional, maintaining your tax affairs may not be at the top of your daily list. However, whether it be personal or professional wealth, completing your financial statements and complying with tax regulations is essential. This is complicated even further if you’re an expat living in Thailand as you’ll have to navigate an unfamiliar tax system in new terrain. As such, you, like many other businesses may benefit from using the services of a tax advisor. However, finding a reliable tax consultant is not as easy as it appears. In Bangkok alone, there are hundreds of firms to choose from. Therefore, with such a huge selection, how does one know which is the best? Further, what criteria should one consider when choosing? In order to help you decide, we’ve narrowed it down to the top 5 most effective tax practitioners in Thailand.
Tax is a multi-faceted field that encompasses a range of disciplines. Therefore, our rankings of the top 5 tax firms seek to reflect this by having law and accounting firms, consultancies and advisory groups all included in the mix. We recognize that certain firms may have varied expertise and so we’ve compiled this list using 3 foundational pillars of research, these being; practical evidence, peer feedback and client feedback.
5 Best Tax Firms in Thailand
Best of Thailand’s tax firms, listed below.
1. KPMG (Klynveld Peat Marwick Goerdeler) tax firms
Not only is KPMG the most reputable accounting firm in Thailand, but it is one of the biggest in the world. As part of the “Big 4”, the firm’s prowess in tax earned it a total of 15 achievements at the ITR Asia Tax Awards in 2020 where it was named “Thailand Tax Firm of the Year” for the 3rd consecutive year (2018-2020). Additionally, KPMG won Asia tax firm of the year as well as Asia tax innovator of the year. As a result, KPMG has amassed widespread national and regional recognition. ITR Commercial Editor, Prin Shasiharan stated of the firm:
“[KPMG] has displayed its capability and excellence across the board in winning the largest tax mandates in the Asia Pacific region. By providing integrated tax and legal advice, [they have] shown the strength-in-depth of its team and resources”.
KPMG operates as a global networking of professional (independent) firms. Its offices are located across 147 countries with over 227,000 employees of which 2,000 are in Thailand. As a firm, they assist businesses and individuals in lowering their tax burden while maintaining the highest standard of compliance. They provide comprehensive tax services including tax registrations, tax strategy, monthly tax compliance services, assistance with tax appeals and negotiation. Further, their team consists of experienced Thai and expatriate tax consultants dedicated to resolving complex tax issues.
KPMG’s Asia Pacific region is the fastest-growing region at KPMG – most recent figures from 2019 showed revenue of US$0.87 billion in tax & legal alone. This is due in part to the regions “trust and growth strategy” that aims to double revenue by 2023. However, most notable was their 2020 annual global revenue which was US$29.22 billion.
Main Areas of Service: Tax Compliance and Advisory, Global Mobility Services, Trade & Customs Services, International Tax, Mergers & Acquisitions (M&A), Transfer Pricing, Tax Dispute Resolution, Private Client Services.
Address: 48th – 50th Floor, Empire Tower, 1 South Sathorn Road Yannawa, Sathorn, Bangkok, 10120. tax firms
2. PWC (PricewaterhouseCoopers)
PWC is a multinational conglomerate of firms, functioning as partnerships under the PWC brand. Similar to KPMG, they are one of the Big 4 accounting firms as well as the 2nd largest professional services network in the world. It has offices located worldwide in over 157 countries with 742 locations and employs around 276,000 people.
At PWC, professionals provide services to businesses that cover all aspects of taxation. Their team of tax experts hold extensive industry knowledge in Thailand; and when paired with their global networks, allows them to provide proactive tax and legal solutions and devise strategies. In addition, it helps clients develop tax planning and assists in managing implementation and risk. In 2020, the firm generated US$10.75 billion in revenue from its tax segment alone and was the leader among the Big 4 in the assurance market, earning US$17.6 billion in annual revenue.
Main Areas of Service: Tax Mergers and Acquisitions, Tax Reporting & Strategy, Transfer Pricing, Financial Services, Tax Structuring, Business Process Outsourcing Services, Tax Controversy & Dispute Resolution.
Address: 15th Floor, Bangkok City Tower 179/74-80 South Sathorn Road Thung Maha Mek, Sathon, Bangkok 10120.
3. DFDL Thailand
Headquartered in Vientiane, Laos, DFDL is an international law enterprise that serves most of Southeast Asia. As a pan-regional firm, they have around 12 offices located in countries such as Cambodia and Myanmar. Further, they have around 170 legal and tax advisers as well as 400 staff members. Due to their far-reaching network of offices, DFDL promises an “international standard of legal and tax services”. Thus, clients will not only receive comprehensive local knowledge but develop national insights and relations as well.
Their Bangkok office, established in 2005 has over 16 years of experience. Their team offers a mix of highly specialized accountants accredited for their expertise, creativity and in-depth knowledge. They offer clients fully integrated tax and legal services and aid them across the full spectrum of tax regimes. These include income tax, international tax, capital gains tax and transfer pricing. Additionally, the practice often works, “in tandem with local jurisdiction stakeholders, in developing tax environments of markets in which we operate”. Finally, their team leader in Bangkok, Jonathan Blaine boasts the likes of trustees, insurers and financial institutions amongst his clients.
They are a multiple-award-winning firm, named “Regional Tax Firm of the Year in Asia” at the ITR Asia Tax Awards in 2020. Moreover, they received recognition in the 2021 World Tax Rankings where their Thailand office was ranked as Tier 1 for Private Client services and Tier 2 for General Corporate Tax. These achievements have thus “firmly establish[ed] them as the go-to tax firm across several countries”.
Main Areas of Service: Tax & Customs Advisory, Tax Disputes, Compliance, Public Sector Consultancy.
Address: 3 Rajanakarn Building S Sathorn Rd, Yan Nawa, Sathon, Bangkok 10120.
4. Kudun & Partners tax firms
Kudun & Partners is a leading independent law practice in Thailand. Founded in 2015, they advise individuals, businesses and financial institutions on a wide array of tax issues. These range from tax planning and optimisation to guidance on tax issues in relation to mergers and acquisitions. The team is led by two of Thailand’s best tax law specialists – Chinawat Assavapokee and Saravut Krailadsiri – who have more than 2 decades of experience. In addition, they assist businesses in navigating Thailand’s tax structure with confidence. Chambers & Partners Asia Pacific in 2020 state of Chinawat:
“[He] often advises Thai and foreign clients on the tax aspects of investments, both in Thailand and into neighbouring countries. He has expertise in tax planning, transfer pricing and corporate restructuring.”
Another testimonial by the Legal 500 Asia Pacific praise Saravut Krailadsiri for his “expertise in oil and gas taxation and tax issues related to e-commerce.”
Thus, Kudun & Partners can be relied on as trusted tax advisors to build solutions towards your tax needs. This is further evident by their impressive roster of clients that include Prima Marine, Jetion Solar and Siam Health Group.
Main Areas of Service: Domestic and Cross-Border M&A, Investment Structuring and Tax Optimization, Pre-and Post-IPO Corporate Restructurings and Business Spin-offs. Moreover, Wealth Management and Tax Planning for individuals and corporations, Transfer Pricing, Tax Disputes including Tax Litigation, Estate Tax Planning and indirect tax matters including Customs and Excise tax.
Address: 23rd Floor, Units C&F, Gaysorn Tower, 127, 127 Ratchadamri Rd, Lumphini, Pathum Wan District, Bangkok 10330.
5. Lorenz & Partners
Last on our list is Lorenz & Partners. They are a legal practice that pride itself on being a “one-stop coordinator”. In terms of tax, they provide tax planning and counselling for corporate investors and businesses. Their team has an exceptional reputation and offer strategic guidance on personal tax, tax reductions and many more. Moreover, they are adept in a variety of accounting systems. These include SAP and Navision, on both a local and international level.
They were awarded 5th place as “Thailand Tax Firm of the Year” and 4th as “Thailand Tax Disputes Firm of the Year” during the ITR Asia Tax Awards in 2020. Thus, solidifying their reputation as one of the best tax firms in Thailand.
Main Areas of Service: Tax Advice, Tax Structuring of projects, Agreements and Investments, Corporate Income Tax, Personal Income Tax, Value-Added Tax, Withholding Tax, Stamp Duty, Tax Optimisation, Planning and Applications for fiscal incentives and Tax Reductions and Promotions (e.g board of investments).
Address: 27th Floor, Bangkok City Tower, 179, S Sathorn Rd, Thung Maha Mek, Sathon, Bangkok 10120.
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