- Thailand’s Revenue Department plans to implement a VAT reverse charge scheme in the scrap metal industry in 2024
- The scheme aims to combat VAT refund fraud, with over half of fake VAT invoices coming from scrap metal businesses
- Businesses in the scrap trading ecosystem will need to submit purchase or sale invoices to the department
- An official decree from the Revenue Department was expected in January 2024
Source: tungstenautomation.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
Latest Posts in "China"
- China Clarifies SME Tax Preference Rules: New Tests Target Artificial Revenue Splitting and Abuse
- China Extends Import Tax Relief for Returned Cross-Border E-Commerce Goods Through 2027
- China Unveils Broad Import Tax Incentives for Key Sectors, Effective Through 2030
- VAT Return Filing Instructions Updated to Align with New VAT Law Effective February 2026
- GAC Releases Customs Codes for Goods Under 9% Import VAT Rate Following New Regulations
