Thai extends VAT exemption Thailand has extended the VAT exemption of cryptocurrencies such as Bitcoin. The new Royal Decree 788 came into force on 25 September 2024. It extends VAT exemptions for the transfer of digital tokens or cryptocurrencies via licensed dealers and brokers which
Oct 2024 VAT rise postponed again; Oct 2025 potential next date The Thai cabinet on 17 September 2024 confirmed that the scheduled rise in VAT from 7% to 10% will not go ahead on 1 October 2024. VAT was cut from 10% to 7% in
Jul – Dec 2024: B2C Sellers to charge 7% VAT in checkout on low-value consignments of goods imported to consumers Thailand is to impose VAT on low-value consignments of goods being imported directly to consumers between 5th July and December 2024. Any consignment at or
New incentives to adopt E-Tax System Thailand’s Revenue Authority has approved a number of incentives for taxpayers to fully adopt the E-Tax System, which provides for digital reporting of invoices and withholding tax payments. Incentives include: Additional deduction allowances for costs reporting in the system
Compulsory reporting of e-invoices to government Thailand now requires taxpayers to submit electronic invoices to the government. The use of e-invoices is not compulsory; but since 2017 when adopted by any taxpayer, they must be submitted with the e-Tax and Invoice Receipt regime. Invoices are
Thailand has become the latest country to impose Value Added Tax on non-resident providers and electronic marketplaces of digital or electronic services from 1 September 2021. This includes a VAT registration threshold of THB 1.8million annum (approx. €46,000), after which sellers should register with the
