Annual Filing and Payment of Taxes in Thailand

Annual Filing and Payment of Taxes in Thailand

In Thailand, companies are required to file annual tax returns and pay applicable taxes in accordance with the Revenue Code. 

1. Corporate Income Tax (CIT) Annual Filing

Form PND.50

• Purpose: Form PND.50 is the annual tax return used by companies to report their net profit or loss and pay corporate income tax (CIT).

• Deadline: Companies must file Form PND.50 within 150 days after the end of the accounting period (fiscal year).

• Required Documents:

• Audited financial statements.

• Detailed income and expense breakdowns.

• Supporting documentation for deductible expenses and tax credits.

• Tax Payment: The total tax payable for the year must be settled when filing Form PND.50. Penalties and surcharges apply for late payment or filing.

2. Interim CIT Filing

Form PND.51

• Purpose: Form PND.51 is an interim tax return required to report and pay 50% of the estimated annual corporate income tax.

• Deadline: Must be filed and paid within two months after the first six months of the accounting period.

• Revisions: If the actual annual profit significantly differs from the estimated profit, additional tax payments or adjustments will be made in the annual filing (PND.50).

3. Withholding Tax Annual Summary

Form PND.53 Summary

• Companies that withhold taxes from payments to individuals or other entities throughout the year must file an annual summary of withholding tax.

• Deadline: Typically due by the end of February of the following year.

• Details to Include:

• Total payments subject to withholding tax.

• Total withholding tax remitted.

4. Value-Added Tax (VAT) Annual Summary

Form VAT 30 Summary

• VAT-registered companies must file monthly VAT returns (Form VAT 30) and may also need to provide an annual summary of VAT paid and collected.

• Deadline: The 15th of the following month for monthly VAT, and annual summaries may be submitted during the annual tax filing process if required.

5. Social Security Contributions

Annual Summary Report

• Employers are required to submit an annual summary report of employee wages and contributions to the Social Security Office (SSO).

• Deadline: Due by January 31 of the following year.

• Purpose: To reconcile monthly contributions paid throughout the year.

6. Other Compliance Requirements

Depending on the type of business, additional annual filings may be required, including:

• Transfer Pricing Disclosure Form: For companies with related-party transactions exceeding specified thresholds.

• Specific Business Tax (SBT): For businesses subject to SBT, annual and monthly filing requirements apply.

Penalties for Non-Compliance

Failure to file tax returns or make payments on time may result in:

• Fines: Fixed penalties for late filing.

• Surcharges: 1.5% per month on unpaid taxes.

• Criminal Charges: In cases of tax evasion or fraudulent filings.

If you need further assistance with annual tax filings or compliance requirements in Thailand, feel free to ask!

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