Thailand Tax Invoices, Debit Notes, Credit Notes 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, Credit Notes, and for VAT Records. The new 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 for sales of goods or services, shall record the following additional details:
The Taxpayer's ID No. of the purchaser;
The “Head Office” or “Branch No.” of the purchaser as per the purchaser's PP20 VAT Registration Certificate; and
The “Head Office” or “Branch No.” of the seller as per the seller's PP20 VAT Registration Certificate.
VAT Records
Output VAT and Input VAT records shall record the following additional details:
Output VAT Records shall additionally record the purchaser's Taxpayer ID No. as well as the purchaser's Head Office or Branch Office No. as per the purchaser's PP20 VAT Registration Certificate; and
Input VAT Records shall additionally record the seller's Taxpayer ID No. as well as the seller's Head Office or Branch No. as per the seller's PP20 VAT Registration Certificate.
Our Tax Insights and Updates are general information publications focusing on the laws for meeting tax compliance obligations, and tax rights and entitlements under the laws.