- Thailand has announced a new regulation regarding the calculation of value added tax (VAT) on purchases.
- The regulation, based on Article 82/5 (6) of the Revenue Code, states that certain purchases should not be deducted when calculating VAT.
- The Director-General of the Revenue Department, with the approval of the Minister of Finance, has specified the purchases that are not eligible for VAT deduction.
- One of the specified purchases is the transfer of assets resulting from joint ventures in the LNG Receiving Terminal project in Rayong province.
- The regulation was enacted on September 22, 2566, by the Deputy Director-General of the Revenue Department, who is currently serving as the Acting Director-General.
Source: rd.go.th
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
