Perception of Accountants towards the Accounting and Tax Profits from Applying Thai Financial Reporting Standards for Smes

International financial reporting standards for small-medium enterprises (IFRS for SMEs) are applied in 63 countries including 3 countries in ASEAN. It is designed to be suitable for SMEs and more compact when compared with full IFRS. Thailand is applying this standard in 2016. It is, of course, quality of financial report will be better improved and have more reliability in international accounting standard if Thai companies apply Thailand financial reporting standards for small-medium enterprises (TFRS for SMEs) as other countries applied. On the other hand, it cause of compliance costs for financial statement reporting and increase the burden towards tax accountants and tax auditors. Furthermore, SMEs in Thailand tend to non-foster voluntary compliance. They focus more on tax administration. This paper will examine the difference of accounting profit and tax profits of SMES after TFRS for SMEs applied. Moreover, perception and knowledge of accountants and tax auditors will be investigated about effect of TFRS for SMEs and the Revenue Codes. Finally, recommendation for developing the knowledge of accountants and stakeholders for TFRS for SMEs will be proposed towards the Revenue Department, Department of Business Development and Federation of Accounting Professions. Secondary data analysis, questionnaire survey from tax accountants, focus group from certified accounting office that is guaranteed from the Ministry of Commerce and semistructure interview from the Revenue Department, tax accountants and tax auditors are used for data collection. It suggests that coordination between the Revenue Department, the Ministry of Commerce and Federation of Accounting Professions and training course about TFRS for SMEs towards tax accountants, tax auditors may be alternatives to increase achievement of launching IFRS for SMEs and decrease the difference of accounting profit and tax profit.