2019

How to invoice as a VAT registrant in Thailand?

Tax point As a VAT-registered entity in Thailand, an important factor to consider when invoicing your customers is the ‘tax point’. The tax point is the date when the VAT is due, and the date differs whether you sell goods or services. For the sale of goods, the VAT is due when the goods are

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PP36 form – VAT on ‘imported’ services

Making a payment to a foreign entity for the provision of services used/consumed in Thailand is considered import of services and the paying company is required to submit VAT 7% to the Revenue Department by filing the PP36 form. Although the supplier’s invoice may not contain VAT, the company registered in Thailand shall submit the

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Depreciation rates in Thailand

Depreciation Rates Type of assets Depreciation rate BuildingsPermanent buildingsTemporary buildings 5% per year100% upfront Depleteable natural resources 5% per year LeaseNo lease agreement or unlimited lease periodLimited lease period 10% per year(100/lease period) % per year Rights in processes, Formulas, Goodwill, Trademarks, Business licenses, Patents, Copyrights & other rightsUnlimited period of rightsLimited period of rights

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How does Withholding Tax work in Thailand?

The Withholding Tax (WHT) is a deduction made on payments to suppliers for the provision of services. The WHT applies to expenses greater than THB 1,000 and to expenses for which a long-term agreement is in place although the expense may be lower than THB 1,000 (ex: telephone or internet bills). For more info on

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We are XERO Partner

We use XERO, an accounting software with 24/7 online access allowing you to have a clear overview of your business figures at anytime. Here are the top benefits of using XERO: Access your data online anytime, anywhere With cloud-based accounting software XERO, your business data is available 24/7 on your computer, mobile or tablet. You

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Tourists to be charged ฿100 insurance fee

The Thai Ministry of Tourism and Sports recently proposed to charge every foreign tourist entering Thailand a mandatory health and life insurance fee. Set at THB 100 per trip and per foreigner, the fee would cover tourists’ medical emergency treatments and repatriation of dead bodies that is allegedly costing around THB 300 million a year

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