Thousands of firms warned to submit balance sheets
THE Business Development Department has warned more than 100,000 companies to submit their balance sheets to the department urgently, or they could be blacklisted and lose their business licences.
The department reported yesterday that 441,661 companies, 81 per cent of registered firms, had submitted their annual balance sheets. However, 103,695 had not done so by the June 2 deadline.
“Any firms that refuse to submit their balance sheets to the department could face penalties under the business law and their financial status may be investigated by the Revenue Department,” said Pongpun Gearaviriyapun, director-general to the Business Development Department.
Companies two to four months late with their balance sheets are subject to fines ranging from Bt2,000 to Bt12,000. For listed companies, possible fines range from Bt4,000 to Bt72,000.
Meanwhile, the department reported that the number of newly registered companies dropped 1 per cent year on year in May to 4,526. The slight drop resulted from a reduction in the number of lottery enterprises after the introduction of controls of lottery prices, and the large number of holidays in May.
In the first five months of the year, a total of 26,396 new companies registered, while 5,576 companies shut down. In May alone, the number of business closures rose 18 per cent year on year to 997.
Despite the slight decline in newly registered companies, the department is confident of registering 60,000-65,000 new firms this year.
