The Value-Added Tax (VAT) is collected from the sale of goods or services, whether produced domestically or imported. Business operators with a duty to register for VAT can do so via two methods
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 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.
The specific business tax obligors are those conducting business activities that are liable to specific business tax, regardless of the form in which such businesses are conducted.
Withholding Income Tax refers to the tax amount deducted by the payer from the payment given to the recipient. The payer is responsible for submitting this deducted tax to the Revenue Department.
Entities obliged to pay corporate income tax include registered companies or partnerships under the Civil and Commercial Code, which also encompass other legal entities not registered under the Civil
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