PND94 Explained: Mid-Year Tax Filing for Freelancers

What is PND94?

PND94 is a mid-year tax return required for individuals with income from certain categories, primarily self-employed and business income (Sections 40(5) through 40(8)).

Who Must File PND94?

You must file PND94 if:

• You received income under Sections 40(5), 40(6), 40(7), or 40(8)
• Your income from January to June exceeds:

- 60,000 THB if single - 120,000 THB if married filing jointly

Filing Deadline

September 30 of the same tax year.

For income received January-June 2024, file by September 30, 2024.

Online filing via RD Smart Tax may extend this by 8 days.

How PND94 Works

Step 1: Calculate Mid-Year Income

Total all qualifying income received from January 1 to June 30.

Step 2: Estimate Annual Income

Project your full-year income (you can estimate the July-December portion).

Step 3: Calculate Tax on Annual Estimate

Apply standard deductions and tax brackets to estimated annual income.

Step 4: Pay Half the Estimated Tax

PND94 requires payment of 50% of your estimated annual tax liability.

Example Calculation

Mid-year income: 400,000 THB Estimated annual income: 800,000 THB Estimated annual tax: 52,500 THB PND94 payment due: 26,250 THB

What Happens at Year-End?

When you file PND90 (annual return):

• Your actual annual income is calculated
• PND94 payment is credited against your total tax
• You either pay the difference or receive a refund

Common Mistakes to Avoid

1. Missing the deadline: Penalties apply for late filing
2. Underestimating income: May result in penalty for underpayment
3. Forgetting to file: PND94 is separate from your annual return
4. Not claiming deductions: You can estimate deductions for mid-year filing

Tips for Freelancers

• Set calendar reminders for September 30
• Keep running totals of income throughout the year
• Save money monthly for tax payments
• Consider quarterly estimated taxes if income is irregular