Overpriced accountants

[kanwisher]

I started a business here in Bangkok about a year ago, its still quite small just about 3 employees now. My accountant fees are higher then what I pay in the united states for a business doing 10x the revenue. I'm wondering if I'm paying a speak english tax. Its 8000 baht a month to do taxes, 2000 a month to do social security paper work, and a 30000 yearly audit fee??? Does this sound high, some thai people told me they were paying closer to 5000, I don't mind more since he has native english speakers, but the yearly fee seems quite high.

[KittenKong]

My condo building with many hundreds of units pays about 25,000B for the annual audit, so it sounds like maybe your accountant saw you coming.

Unless perhaps you are paying for extreme "creativity".

[konying]

You been charged about double to what it usually costs.

I pay 4500 per month for monthly accounting, including social security etc.

Yearly audit from memory around 14 000.

[kurnell]

We hired an accounting firm and they were utterly useless. In fact I have my doubts that they even understand accounting. All they wanted to do was take short cuts which cost the firm money. We fired them and hired our own accountant.

[fletchsmile]

Your year end audit fee in particular seems a bit high.

Worth checking though what that actually covers. It could be that includes accounts preparation, year end tax and accounts filing, in addition to just audit. They tend to get bundled together with audit over here.

Cheers

Fletch

[mike324]

My condo pays around 25,000 baht per month too, small companies I've seen rate in the thousands, the rate is all over the place. But yes you are overpaying a little.