Finance Manager (Thailand Subsidiary)

Company Overview

Our client is a Chinese high-tech manufacturing company specializing in precision metal components, automotive parts, electrical equipment components, and energy storage systems. Its core products are mainly applied in the electrical sector (such as energy management and industrial automation) and the automotive sector (including new energy vehicles). Supported by six core technologies including precision mold development, stamping, and sheet metal fabrication, the company promotes lean manufacturing and digital transformation, and currently owns more than 260 patents.

Role Overview

We are seeking an experienced and detail-oriented Finance Manager to lead the financial operations of our Thailand subsidiary. The ideal candidate will have strong expertise in Thai accounting standards, BOI compliance, tax regulations, transfer pricing, and manufacturing finance management, with the ability to work effectively in a multinational environment.

Key Responsibilities

➤ Financial Management and Reporting

1). Fully responsible for the accounting processing, monthly/annual financial statement preparation, and reconciliation of accounts and actuals for the Thailand subsidiary.

2). Ensure compliance with Thai Financial Reporting Standards (TFRS), group policies (PRC GAAP / IFRS), and BOI-related financial requirements.

3). Manage the local finance team, enhance professional capabilities, and promote BOI compliance awareness.

➤ Tax Compliance and Transfer Pricing

1). Ensure timely and accurate filing of VAT, WHT, social security, payroll tax, corporate income tax, and other statutory returns.

2). Familiar with import/export duties, VAT policies, and capable of identifying and mitigating tax and customs compliance risks.

3). Understand BOI tax incentives (e.g., corporate income tax exemption, machinery import duty exemption) and report operating data as required by BOI (e.g., monthly/quarterly reports, investment promotion project updates).

4). Responsible for preparing Transfer Pricing documentation and compliance filings (including arm's length analysis for related-party transactions, local/master files), in line with group global TP policies.

5). Track changes in local tax regulations, report to headquarters in a timely manner, and support tax planning initiatives.

➤ Cost Control and Accounting

1). Establish and optimize cost accounting systems (raw materials, labor, manufacturing overhead allocation).

2). Support operations in controlling manufacturing costs and analyzing gross margin fluctuations.

3). Participate in annual budget and rolling forecast preparation, and conduct monthly variance analysis.

➤ Cash Management, Foreign Exchange, and Internal Controls

1). Manage subsidiary cash flow, prepare cash flow forecasts, and monitor use of raised funds (e.g., BOI project fund utilization progress).

2). Familiar with Thailand's foreign exchange controls: cross-border fund transfers, foreign debt reporting (exceeding USD 50,000), and profit remittance (10% withholding tax).

3). Establish and improve internal control systems, mitigate financial risks, and ensure fund usage complies with BOI and Bank of Thailand regulations.

4). Conduct regular internal financial self-audits and coordinate internal/external audits as well as BOI-specific audits.

➤ BOI Special Compliance

1). Responsible for post-investment compliance of BOI-approved projects, including:

• Submitting BOI performance reports (e.g., Filing of BOI Performance Report)
• Ensuring investment amount, timeline, production capacity, export ratio, etc., meet BOI commitments
• Strictly separating BOI-promoted and non-promoted activities in terms of revenue, cost, assets, and liabilities (financial segregation requirements)
• Tracking start and end dates of corporate income tax exemption and ensuring tax-exempt profits do not exceed BOI-certified scope and capacity
• Assisting with BOI site inspections and document preparation

2). Liaise with BOI, Revenue Department, Ministry of Commerce, and other government agencies for compliance and special filings.

➤ Related-Party Transactions, Statutory Filings, and System Support

1). Handle accounting and compliance filings for related-party transactions (with headquarters and other subsidiaries).

2). Participate in ERP system implementation (e.g., Kingdee) or process optimization, ensuring proper configuration for BOI/tax modules.

3). Support banking, foreign exchange filings, government engagements, and other special matters.

Qualifications

✓ Education and Qualifications

• Bachelor's degree or above in Finance, Accounting, or related fields.
• Must hold CPD (Certified Public Accountant for Duty) certification.
• Thai CPA (CPA Thailand) or equivalent qualification preferred.

✓ Work Experience

• At least 8 years of finance-related experience, including 3+ years in a finance management role within a manufacturing company.
• Hands-on experience with BOI projects in Thailand (at least fully responsible for daily finance and compliance reporting for one BOI company).
• Familiar with Thai TFRS, tax regulations (VAT/WHT/CIT), transfer pricing, customs, and BOI rules.
• Prior experience in a Chinese-invested or multinational subsidiary in Thailand is preferred.
• Experience with Kingdee or other ERP systems is preferred.

✓ Local Compliance Capabilities in Thailand

• Familiar with filing processes for Thai social security, payroll tax (P.N.D. 1 series), VAT (PP.30/PP.36), withholding tax (P.N.D. 3/53), and corporate income tax (P.N.D. 50/51).
• Understands Thailand's foreign exchange control regulations (foreign debt reporting, profit remittance, cross-border fund filings).
• Understands BOI requirements for foreign employee ratio and minimum salary thresholds for foreign employees.
• Familiar with statutory financial statement submission to DBD and audit coordination processes.

✓ Language Skills

• Proficient in English (listening, speaking, reading, writing), able to work in English as a business language with headquarters.
• Chinese language skills are a plus (headquarters is a Chinese-invested company).

✓ Personal Qualities

• Strong professional ethics and sense of responsibility.
• Good communication, coordination, and stress management skills.
• Understands cultural differences between China and Thailand and adapts well to cross-cultural management environments.