VATupdate

Share this post on

Guidance about calculating the penalty for VAT

  • The order of the Revenue Department No. 163/2567 is about calculating the penalty or additional money for income tax, value-added tax, and specific business tax.
  • It provides guidelines for tax officials to inspect and advise taxpayers on calculating penalties or additional money for income tax, value-added tax, and specific business tax.
  • It includes provisions for taxpayers who do not submit returns or pay taxes within the specified time, including cases where the deadline falls on a government holiday.
  • The order cancels the Revenue Department Order No. 117/2545 regarding the calculation of penalties or additional money for income tax, value-added tax, and specific business tax.
  • It specifies the extension of the deadline for submitting tax returns and paying taxes for taxpayers approved by the Minister of Finance.
  • Penalties and additional money are imposed on taxpayers who do not submit returns or pay taxes within the extended deadline.

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.

Sponsors:

Advertisements:

  • AXWAY - VATupdate Banner