- Thailand’s Revenue Department updated input tax rules for exporting businesses.
- The new guidelines clarify input VAT allocation for businesses selling goods outside Thailand.
- The update provides detailed procedures for allocating input VAT between different types of activities.
- Businesses must first exclude input tax based on revenue from non-VAT activities.
- Remaining input tax can be offset against output tax or allocated based on activity type.
- Businesses with both VAT-liable and VAT-exempt activities must allocate input tax based on revenue proportion from VAT-exempt operations.
Source: regfollower.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.
