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Threshold Determination and Simplification Provision by Mr . Prachuabmoh

Threshold Determination and Simplification Provision by Mr . Prachuabmoh The Revenue Department of Thailand. Number of VAT registered. CIT 312,091. Total 403,630 as of January 2010. Factors of threshold determination on VAT registration. Government policy . MSEs income.

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Threshold Determination and Simplification Provision by Mr . Prachuabmoh

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  1. Threshold Determination and Simplification Provision by Mr. Prachuabmoh The Revenue Department of Thailand

  2. Number of VAT registered CIT 312,091 Total 403,630 as of January 2010

  3. Factors of threshold determination on VAT registration Government policy MSEs income Economics situation Consumer behaviour Income expense of government

  4. Problem of high METRs on capital • It is optional for VAT registration if • income below 1.8 million baht • Taxpayer can be claimed for input tax • If it is not, input tax can be deducted • as expense

  5. Threshold determination on VAT registration *** it is optional for VAT registration if income below 1.8 million baht

  6. Limits of voluntary VAT ragistration • MSEs threshold according to Revenue Code. • Income MSEs • Type of MSEs • - non VAT • - VAT • Incase of MSEs income below 1.8 Million baht, • MSEs may ask for VAT registration

  7. Simplification of VAT calculation and filing • In case of input tax larger than output tax • - cash refund / credit • VAT return =output tax – input tax • (tax month)

  8. Simplification of VAT calculation and filing • Summit VAT refund once a month via • - www.rd.go.th • - Revenue branch office • Simplification on output tax report • - 1 report for a day

  9. Thank you

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