Many may wonder what types of tax invoices exist and how they differ from each other. The Revenue Department provides information and details on the types of tax invoices
Many perceive tax matters as complex, complicated, and difficult to understand. However, paying taxes is a significant responsibility, a testament to being a good citizen of a country.
The Specific Business Tax (SBT) is a type of tax under Thai law, collected from certain types of businesses specifically defined by law. It replaces the abolished trade tax and is collected separately from the Value Added Tax (VAT).
"Withholding income tax" refers to a method of prepaid tax collection. The law mandates that the payor must deduct taxes from the income paid to the recipient each time such income is disbursed.
The Value Added Tax (VAT) is a type of tax collected by the government from consumers who purchase goods or services. This indirect tax is typically collected by business operators from consumers at a current rate of 7%.
Specific Business Tax is one type of tax according to the Revenue Code, collected from specific types of businesses, replacing the abolished Commercial Tax.
The VAT refund application for foreign tourists comes in two forms, specifically: requesting a draft refund, with a draft fee of 103 Baht per case and postal fees according to the rates charged by the postal company.
The VAT Registration Certificate is of paramount importance for entrepreneurs, as establishing a company to conduct various business operations must be done properly. One of those steps is registering for VAT.
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