(10/2008)

The deadline for filing the 2007 corporate income tax return (form PND 50) and paying any tax due for companies with a 31 December year end is Thursday, 29 May 2008 .

Failure to file the return and pay tax within the deadline will incur a fine of Baht 2,000 and a surcharge of 1.5% per month on any tax that may be due.

In addition, the audited financial statements must be approved by the annual shareholders’ meeting within 4 months from the closing date of the accounting period and must be filed with the Department of Business Development within 1 month after the date of the annual shareholders’ meeting. Penalties also apply for late submission.

PwC assists many companies in meeting these filing obligations and identifying tax risk areas and savings opportunities.