Last updated: January 17, 2021
A. SCOPE OF SERVICES
Our services shall cover and be strictly limited to the following:
1. Company Registration
- Draft, Submit the Articles of Association and Company registration forms to the Department of Business Development
- Issue certified copy of Company Affidavit, Shareholders List and Articles of Association
ii) Representative Office / Regional Office
- Draft, Submit the Representative Office / Regional Office registration forms to the Department of Business Development
- Issue certified copy of Representative Office / Regional Office Affidavit and Certificate
- Assist in applying for the Representative Office / Regional Office Tax Identification Card to the Revenue Department
- Review, record and accrue the Company’s invoices (revenues and expenses) into the software on a monthly basis in accordance with the Generally Accepted Accounting Principles (GAAP)
- Record and maintain the Company’s Fixed Assets Register and calculate amortization in accordance with the Generally Accepted Accounting Principles (GAAP)
- Prepare and publish in the software the following accounting reports: Trial Balance, General Ledger, Profit & Loss and Balance Sheet on a monthly basis
- Prepare and publish in the software the accounting reports at yearend and submit them to the Auditor
- Submit the Audited Financial Statements to the Ministry of Commerce and to the Revenue Department
- Register the Company to Department of Business Development, Revenue Department and Social Security’s E-Filing systems to submit taxes and Audited Financial Statements online
3. Tax Filing
- Prepare and submit Withholding Tax forms (PND 3 / 53 / 54) to the Revenue Department on a monthly basis
- Prepare and submit Value Added Tax forms (PP 30 / 36) to the Revenue Department on a monthly basis
- Prepare and submit Semi-annual (PND 51) and Annual Corporate Income Tax form (PND 50) to the Revenue Department
- Prepare and publish in the software the Payroll report and Pay slips on a monthly basis
- Prepare and submit the Personal Income Tax form (PND 1) to the Revenue Department for the Company’s employees on a monthly basis
- Prepare and submit Social Security contributions for the Company’s employees on a monthly basis
- Prepare and submit yearend Payroll report form (PND 1K) to the Revenue Department
- Prepare and send yearend Withholding Tax Certificates (‘50 Tawi’) for the Company’s employees
- Statutory audit in accordance with the Accounting Profession Act B.E.2547 and its accounting and auditing standards
- Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made in the accounting reports
- Prepare the consolidated Financial Statements according to the Generally Accepted Accounting Principles (GAAP)
6. Annual Corporate Secretary
- Draft and send summoning letters and proxies to the shareholders, and publish the announcement in a local newspaper for the Annual Ordinary General Meeting of Shareholders,
- Draft of the Minutes of the Annual Ordinary General meeting of Shareholders,
- Draft and submit the updated list of shareholders to the Ministry of Commerce.
B. PRINCIPLE & CONDITIONS
Our work will depend on the selected package and will be based solely on the information and supporting documents provided by you, the circumstances made known to us and any assumptions that may be set out in our reports. We will rely on you to bring to our attention any changes in information that may impact on our services.
Our services and reports will be based on laws and practices in existence at the time our work is performed. Changes in the laws and practices may take place after our services or reports are supplied. We accept no responsibility for such changes.
Some of the issues on which we may be asked to intervene may have implications for other individuals or parties. We are not responsible for raising such matters, unless specifically instructed to do so.
2. Time Frame
We will use our best endeavour to carry out our services in accordance with our time schedule. Such time schedule is indicative for planning and estimating purposes only and is not contractually binding.
Your Company’s management is responsible for ensuring that company’s operations are conducted in accordance with laws and regulations. The responsibility for prevention and detection of non-compliance shall remain with the Company’s management.
The Company is furthermore responsible for compliance with all relevant tax laws and submission of all relevant tax returns. The Company shall undertake the payment of any fine or penalty occurring due to the non-deliverance or invoices, tax invoices, receipts or information to BizStep Ltd. and/or due to the non-payment of taxes and other contributions according to relevant submission deadlines.
Our services fees are paid upfront and cover up to 500 transactions per fiscal year for bookkeeping and tax filing services and up to 10 employees per month for payroll services. To track the amount of transactions, we make the ‘Journal Report’, an accounting report listing all recorded transactions, available to you. This report serves as a mutually agreed proof of the number of transactions.
Our fees exclude the VAT as well as government fees, taxes, Social Security contributions and any other fees specific to your company.
We may change the fees at any time and such change shall be effective immediately. For existing clients, we shall send an advance notice of at least 60 days prior to the effective date and such change shall only become effective upon your acceptance to be sent by registered mail or email.
5. Payment Methods
For our company registration and accounting services fees in annual billing, we accept online payments via Debit/Credit Cards through PayPal or direct transfers to our bank account. For our accounting services fees in monthly billing, we only accept online payments via Debit/Credit Cards through PayPal. For all your taxes, social security contributions and government fees, you may directly transfer from your company bank account to our tax disbursement account. If you provide Debit/Credit Cards information to us, you authorize us to charge such Debit/Credit Cards for the purchased package listed in the online order form.
You are responsible for providing complete and accurate billing and contact information to us and notifying us of any change to such information. All fees and charges are nonrefundable and there are no refunds or credits for partially used periods except as per the provisions as stated in section 8. Tax Invoices / Receipts shall be issued upon receipt of payment.
Our fees exclude taxes, Social Security contributions, government fees and any other fees specific to your company. Such costs would be separately invoiced to you on a monthly and annual basis. Also, our fees do not include any penalties or fines related to the late submission of taxes and Social Security contributions specific to your company.
7. Intellectual Property
Intellectual property rights in documentation, systems, materials, methodologies and processes brought to the assignment or created in the course of the assignment shall remain and be vested in BizStep Ltd.
We retain the right to cease performing our services, and to terminate your representation, for any reason consistent with the applicable laws or ethical rules, including unanticipated conflicts of interest of delinquency, continuous non-payment of taxes and other contributions specific to your company, or non-payment of our fees on due dates and expenses incurred on your behalf effective upon notification of such termination. Such notification may be sent by registered mail or email.
You may terminate the assignment with an advance notice of at least 60 days prior to the effective date of termination. Such advance notice may be sent by registered mail or email.
9. Amendments to Terms and Conditions
We may modify the Terms and Conditions when we deem necessary, without providing prior notice. The modification(s) shall become effective once the updated Terms and Conditions are posted on our website. You shall be deemed to have granted valid and irrevocable consent to the modified Terms and Conditions by continuing to use our services. You shall refer to the Terms and Conditions on a regular basis when using our services, since a separate notification regarding the modification(s) to Terms and Conditions may not be provided.
10. Governing Law
These Terms and Conditions shall be governed and construed in accordance with the laws of Thailand.
By ticking ‘I have read and agree to the website terms and conditions’ in the online order form and/or by purchasing a package or subscription to BizStep through the payment method as stated in section 5., you have read, understands and accepts all the Terms & Conditions herein.