Por Ngar Dor 51

[MHM]

I have a small business in Kanchanaburi, it's been running for 3 years and the last auditors report showed a minimal profit.

I met with our accountant today and was given Por Ngar Dor 51 which shows a bill of 7,500 Baht to pay. She says this comes now every 6 months when the business shows a profit. I didn't know about this tax and so wasn't prepared for it. If anyone can give a bit more information I would be most grateful. My everyday Thai is fine but I lose it really quickly with our accountant, she speaks too fast and has no English at all to help me along.

If anyone has this document she's put 50,000 in box 28-29. What does this relate to?

While I'm here, are there anymore nasty tax surprises I should be expecting now the business is showing a profit?

Many thanks

[Misty]

Here's what I've learned from being involved with a small business:

The PND 51 is the half year corporate income tax return. I thought all companies had to file it (not just those making a profit) but I could be wrong. The PND 50 is the year end corporate income tax return.

On the PND 51 form you have two choices of how to calculate the tax owed in the first six months--either base it on the actual profit for the first 6 month, or use an estimate (either pay the minimum required tax on 1/2 of the profit from the previous year to play it safe, or 1/2 of an estimate for the current year's full profit).

It looks like box 28-29 is 1/2 of the estimated taxable net profit, so this appears to be the method your accountant is using.

That's what I understand, but would welcome anyone else's input as I'm not a Thai accountant.

[MHM]

Thanks Misty, she may well have filed it before, there was nothing to pay so it has not stuck in my mind. What you say is exactly what I thought she said! I caught something about getting a rebate if I had paid too much in the year.

What percentage of tax is payable on profits?

Thanks again

[Misty]

Hi MHM,

See #14 in this link: http://bia.serverbox.net/003.html Should help, I think. Got it from "useful websites" section in this forum.

Cheers, Misty

Thanks Misty, she may well have filed it before, there was nothing to pay so it has not stuck in my mind. What you say is exactly what I thought she said! I caught something about getting a rebate if I had paid too much in the year.

What percentage of tax is payable on profits?

Thanks again

[MHM]

Hi Misty

I was so on the ball in the start up phase, tax on profits didn't seem very important then. I have just been to see the accountant and she's given me the last 2 years PND 51 returns - it was in her filing which explains why I didn't recognise the document and was therefore not expecting a bill. All questions answered for the time being, so thanks for the link and your help. Until the next time....

Helen

[Cyberstar]

Revenue Department kindly provides English translations of the various tax-return forms. Very useful when trying to figure what the accountant claims on your behalf and legal responsibility

http://www.rd.go.th/publish/29041.0.html

[MHM]

Thanks Cyberstar

That's a really helpful link which is now saved in Favourites

Helen

[crockett]

Revenue Department kindly provides English translations of the various tax-return forms. Very useful when trying to figure what the accountant claims on your behalf and legal responsibility

http://www.rd.go.th/publish/29041.0.html

Thanks too Cyberstar,

very helpful.