Quote:It's that time of the year again. For those who are Managing Directors of corporations, you may need to file a half-year tax return (POR NGOR DOR 51). If your company has been registered within 2007 and had chosen the accounting period to end on December 31st of each year, we would like to remind you that you must submit the Half Year Tax Return before 31st of August 2008. Tax return filing after this deadline will be subjected to a fine.

The Half Year Tax Return, or PND 51, must be prepared by a Thai licensed accountant.

Please be aware even if your period of tax return is less than 12 months, as your company was incorporated after January 2nd 2007 but before December 31st 2007, you still will need to file the PND 51.

However, please note that the minority of you who chose your corporate accounting period to end on other dates than 31st December, your deadline of filing half year tax return will be within two months of the last day of the first accounting period.

What is half year tax return (PND 51) and how is it calculated?

The Half Year Tax Return is a forecast of the closest possible annual corporate net profit. The corporation is asked to calculate the income tax due on that net profit amount then pay half of that tax amount at the same time as submitting the Half Year Tax Return.

The half year tax paid will credited to your annual tax liabilities at year end.