- Taxpayers exempt from VAT must still file VAT returns
- Resolution clarifies formal obligation for VAT-exempt taxpayers
- VAT-exempt taxpayers must file monthly VAT returns starting from July 2024
- Despite exemption from paying VAT, taxpayers must still file D-104 form
- Obligation to make declarations remains until deregistration from VAT register
- Taxpayers outside the scope of VAT are not affected by the resolution
- Compliance with formal obligations is necessary for taxpayers subject to VAT
- Noncompliance may result in penalties for taxpayers
- Taxpayers should review tax compliance processes and adjust practices if necessary
Source: taxathand.com
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.
