|
|
MORE
| 1
| 2 | 3
| 4
| 5
| | 6
| 7
|
|
Taxation
in Thailand - Value Added Tax (VAT)
|
Under
the tax regime, value added at every stage of the production
process is subject to a 7 percent tax rate. The transactions
shall be affected by this tax are:
::
Sale of goods or provision of service by a supplier.
Provision of service in Thailand means performing services
in Thailand regardless of whether the use of such service
is made in a foreign country or in Thailand. Moreover,
a service, which is performed in a foreign country and
is made use of in Thailand, shall be treated as provided
in Thailand. A supplier is required for VAT registration
under Section 85 or 85/1 or for temporary VAT registration
under Section 85/3.
::
Importer
or any other person who imports or brings goods into
Thailand including those who remove from an export processing
zone not for export any goods whether they be liable
to or exempt from import duty under the customs law.
Persons
liable to VAT in special cases:
::
A supplier residing outside Thailand and selling goods
or providing services in the ordinary course of business
with an agent.
::
Persons who sell goods or provide services liable
to tax at the rate of zero percent to the United Nations,
its specialized agencies, Consulate or Embassy, if
the ownership in the goods or the rights in the services
is then transferred to another person.
::
Where
the import of goods listed in the part on goods exempted
from duty under the Law Governing Customs Tariff and
VAT are exempted, such goods afterwards become liable
to duty under such law if
-
That person has the liability under the Law Governing
Customs Tariff.
- That person is the transferee, if the goods are transferred.
::
In
the case of amalgamation: the persons amalgamated and
the transferee shall be liable to VAT.
::
In
the case of transfer of business: the transferor and
the transferee shall be liable to VAT.
VAT
must be paid on a monthly basis, calculated as Output
tax - Input tax = Tax paid, where output tax is the
VAT which the operator collects from the purchaser when
a sale is made, and input tax is the VAT which an operator
pays to the seller of a goods or service which is then
used in the operator's business.
If
the result of this calculation is a positive figure,
the operator must submit the remaining tax to the Revenue
Department not later than 15 days after the end of each
month. However, for a negative balance, the operator
is entitled to a refund in the form of cash or a tax
credit, which must be paid in the following month.
For
more information, please do not hesitate to CONTACT
US.
|
|
MORE
| 1
| 2 | 3
| 4
| 5
| | 6
| 7
| ::
LEGAL SERVICES ::
BUSINESS SERVICES
:: TAX & ACCOUNTING
SERVICES ::
|
|
