New incentives to adopt E-Tax System Thailand’s Revenue Authority has approved a number of incentives for taxpayers to fully adopt the E-Tax System, which provides for digital reporting of invoices and withholding tax payments. Incentives include: Additional deduction allowances for costs reporting in the system
Compulsory reporting of e-invoices to government Thailand now requires taxpayers to submit electronic invoices to the government. The use of e-invoices is not compulsory; but since 2017 when adopted by any taxpayer, they must be submitted with the e-Tax and Invoice Receipt regime. Invoices are
Revenue Department gives e-service providers and marketplaces extra time on monthly filings and liability settlements Non-resident providers of electronic services have been given a postponement on their first VAT returns and payments. This follows Thailand introducing Value Added Tax on foreign providers in September 2021.
Longstanding VAT rise now scheduled for 2023 Thailand has postponed again plans to raise its VAT rate from 7% to 10% in September. It now intends to raise the standard Value Added Tax rate on 1 September 2023. Thailand originally cut its VAT rate from
Thailand has become the latest country to impose Value Added Tax on non-resident providers and electronic marketplaces of digital or electronic services from 1 September 2021. This includes a VAT registration threshold of THB 1.8million annum (approx. €46,000), after which sellers should register with the
Thailand has delayed the deadlines on Value Added Tax filings again due to the economic impact of the coronavirus. The Thai Revenue office has changed the monthly returns dates as follows: June returns – due 30th instead of 15th July July returns – due 31