Thailand Tax Invoices and VAT Records
The Thailand Revenue Department's new VAT compliance rules for tax invoices, debit notes credit notes and VAT records (as summarized in this Tax Insight) are now effective and VAT registrants need to comply with them from 1 Jan 2015.
New VAT Compliance Rules
On 28 May 2013, the Thailand Revenue Department issued Notifications on VAT Nos 194, 195, 196 and 197 changing the VAT compliance rules for Tax Invoices, Debit Notes and Credit Notes, and for VAT Records. The new VAT compliance rules are as follows:
Tax Invoices, Debit Notes and Credit Notes
Tax Invoices for sales of goods or services, and Debit Notes and Credit Notes issued pursuant to sales of goods or services, shall record the following additional details:
Output VAT and Input VAT records shall record the following additional details:
This Tax Insight is general information only. It should not be used to determine any particular matter without consulting with an experienced Thailand tax advisor.