Writing-Off Bad Debts from Account Receivable in Compliance with Thailand Revenue Code

Abstract

In the current environment of business operations, various businesses may increasingly need to write off bad debts. It is, therefore, essential to study the criteria, methods, and conditions stipulated by the relevant laws and regulations. In this article, the researchers summarize the key points of Ministerial Regulations Nos. 186 and 374 regarding the nature of debts to be written off as bad debts, the criteria, methods, and conditions for writing off bad debts from accounts receivable, and the accounting period in which they are tax-deductible. The researchers also collected the relevant enquiries and responses for future reference and summarized them as practical guidelines. This would enable business operators to proceed and gather important evidence so that bad debts can be treated as tax-deductible expenses.