Accounting Services

Half-Year Report

In addition to their annual tax payment, companies, subject to Corporate Income Tax (CIT) on net profits (including those generating no profit at all), are also required to make tax prepayment in the form of a half-year report (form PND 51).

A company is obliged to estimate its annual net profit as well as its tax liability and pay half of the estimated tax amount within two months of the end of the first six months of its accounting period. The prepaid tax is creditable against its annual tax liability.

Example: If a company’s accounting period ends at the end of the calendar year (i.e. December 31), the first six fiscal months are: January through June. The company’s half-year report will then be due within two months of June, that is, by the end of August.

Mahanakorn Partners can prepare and submit your company’s half-year report along with your tax payment.