Thailand has released its guidance on the extension of its VAT system to cover digital supplies by non-resident businesses effective from September 1, 2021.
The guidance — titled ‘A Guide on VAT on Electronic Service Provided to Non-VAT Registrants in Thailand by Non-resident Business Person‘ — clarifies issues of concern to potentially affected non-resident digital businesses. It has also revealed that the Thailand Revenue Department will maintain a list of VAT registrants, following the example of many tax jurisdictions worldwide.
The guidance also provides more information on the validation of Thailand VAT numbers; VAT filing and payment; the use of FX sources for the conversion of foreign currencies to Thai Baht, and a host of other compliance-related details.
Source Taxamo
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