What is the half-year corporate income tax (PND 51) ❓ When to file ❓ How is it calculated ❓

What is the half-year corporate income tax (PND 51) ❓ When to file ❓ How is it calculated ❓

What is PND 51?

PND 51 is the corporate income tax return for half of the accounting period (6 months), or simply explain that the corporate tax is paid to the Revenue Department first for the profits in the first 6 months.

When registered as a juristic person such as a limited company or juristic partnership The business has a duty to file a corporate income tax return twice a year:

- The first half of the year, call for tax filing "Por Ngor Dor 51"

- At the end of the year, call for tax filing "Por Ngor Dor 50"

🔹When do I have to file?

must be filed within 2 months from the last day of half of the accounting period (If not filed in time, there will be a penalty + surcharge, which is explained below.)

for example

Normal accounting period according to the calendar year (1 January and ending on 31 December)

Must prepare and submit a PND 51 form with two methods of filing, which can be divided into

** By Tuesday, August 31, 2021 (for submission - paper form)

or within Buddhist day, September 8, 2021 (for submission - online form)

Note: Juristic person who recently Company registration in the first year will still be exempted from the need to submit Form PND 51

🔹Who is responsible for filing the Por Ngor Dor 51 return form?

1. Companies or juristic partnerships that must prepare estimates of net profit or net loss

2. Listed company Commercial banks under the law on commercial banking or finance company securities company or credit foncier companies under the law on finance business Securities business and credit foncier businesses or juristic companies or partnerships Paying tax on net profit (net loss) in the first half of the year

🔹 Newly registered company Establishing a limited partnership in the first year, do I have to submit PND 51?

A juristic person with a period of not less than 12 months is obliged to file a P.N.D. 51 form, therefore, if the first accounting period is less than 12 months, do not need to submit a P.N.D. 51 form, for example, a company registered incorporation. On February 5, 2021, when the first accounting period is less than 12 months, there is no need to submit the P.N.D. 51 return for the middle of the year 2021.

🔹Does P.N.D. 51 have to have an auditor?

Filing a Por Ngor Dor 51 return can be divided into 2 cases as follows:

- In the case of calculating and paying tax from the estimated net profit Do not enter the name of the auditor and certify the account. (which limited companies and juristic partnerships generally use this method)

- In the case of calculating and paying tax from net profit, tax from actual net profit in the first half of the year The name of the auditor and account certifying must be entered.

🔹Delayed filing of P.N.D. 51 forms

In the case of filing a P.N.D.51 form over the time limit shall be liable as follows:

1. A fine for filing a P.N.D. 51 late form is not more than 2,000 baht.

2. An additional 20% of the amount of tax payable

There are 2 methods for calculating income tax for filing a P.N.D. 51 return, which are:

1. Half of the projected net profit for the year applies to general companies, trading activities, manufacturing businesses, service businesses

2. The net profit of the first 6-month accounting period applies to the following companies:

• Companies listed on the Stock Exchange of Thailand. Commercial banks under the law on commercial banking or finance company securities company or credit foncier companies No need to attach a statement of financial status and withholding tax certificate

• Company or juristic partnership According to the announcement of the Director-General of the Revenue Department regarding income tax under Section 67 bis (2) of the Revenue Code. The statement of financial status and the statement of financial status reviewer's letter must also be attached.

🔹Can I pay in installments for PND 51?

If there is an additional tax that must be paid in the form of P.N.D. 51, it cannot be paid in installments. The whole amount must be paid at once.

🔹If there is a tax that has been paid in excess, can it be refunded?

If there is a tax paid in excess of the Por Ngor Dor 51 form to request a refund or to be regarded as a credit for calculating the tax payable at the end of the year

1) If the return is filed later than 2 days, an additional fee of 0.1% of the tax must be paid.

2) If the return is filed later than 2 days but not more than 7 days, a surcharge of 0.5% of the tax must be paid.

3) If the return is filed later than 7 onwards, an additional fee of 1.5% per month of the tax payable will be charged. until the additional money reaches 20% of the tax

🔹Download the PND 51 form

https://www.rd.go.th/fileadmin/tax_pdf/cit/2564/230664CIT51.pdf

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