Thailand has released its guidance on the extension of its VAT system to cover digital supplies by non-resident businesses effective from September 1, 2021.
The guidance — titled ‘A Guide on VAT on Electronic Service Provided to Non-VAT Registrants in Thailand by Non-resident Business Person‘ — clarifies issues of concern to potentially affected non-resident digital businesses. It has also revealed that the Thailand Revenue Department will maintain a list of VAT registrants, following the example of many tax jurisdictions worldwide.
The guidance also provides more information on the validation of Thailand VAT numbers; VAT filing and payment; the use of FX sources for the conversion of foreign currencies to Thai Baht, and a host of other compliance-related details.
Source Taxamo
Latest Posts in "Thailand"
- How to Claim a VAT Refund in Thailand: A Step-by-Step Guide for Tourists
- How to Verify a Thailand VAT ID Online: Process, Importance, and Compliance Risks Explained
- Thailand Launches D-VAT & SBT Digital Platform to Streamline VAT and Business Tax Services
- Thailand Updates Input VAT Allocation Rules for Mixed and Out-of-Scope Business Activities
- Thailand Revenue Department to Expedite B160bn VAT Refunds for Business Liquidity
