Keywords: Mazars, Thailand, Tax, PND. 51
02 August 2013
The calculation of half-year tax must be based on net profits, as follows:
- For listed companies, banks, or financial institutions, on the actual net profit for the half-year;
- For other companies than the above, on one-half of an estimated amount of net profit for the entire year.
If a company fails to file the half-year tax return or underestimates its net profits by a margin exceeding 25% of the full-year net profits without reasonable cause, it shall be liable to pay surcharge of 20% of the amount of the tax shortfall.
However, under the Director-General’s Instruction No. Paw. 50/2537, if the company files a half-year corporate tax return on an estimated amount of net profit that is not less than one-half of its actual net profit according to the corporate income tax return filed for the previous year, this shall be treated as a reasonable approach.