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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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Presentation Transcript
slide1

Threshold Determination and

Simplification Provision

by Mr. Prachuabmoh

The Revenue Department of Thailand

slide2

Number of VAT registered

CIT

312,091

Total 403,630 as of January 2010

slide3

Factors of threshold determination on VAT registration

Government policy

MSEs income

Economics situation

Consumer behaviour

Income expense of government

slide4

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
slide5

Threshold determination on VAT registration

*** it is optional for VAT registration if

income below 1.8 million baht

slide6

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
slide7

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)
slide8

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