The Revenue Department is planning to launch a value-added tax (VAT) reverse charge scheme in the scrap metal industry to reduce the risk of refund fraud by January 2024, says director-general Lavaron Sangsnit.
He said more than half of the fake VAT invoices were issued by scrap metal businesses to be used as evidence for tax refunds from the department and are deemed to be highly unacceptable.
Source: www.bangkokpost.com
Latest Posts in "Thailand"
- Thai Parties Oppose VAT Hike, Warn of Rising Costs for Households and Small Businesses
- Political Parties Unite Against Proposed VAT Hike Ahead of 2026 Thai Election
- Thailand to Impose VAT and Duties on All Online Imported Goods from 2026, Ending Low-Value Exemption
- Thailand Mulls Higher, Uniform Import Duty on Low-Value Goods to Boost Fair Competition
- Thailand to End Duty Exemption for Low-Value Imports from January 2026
