12 Activities To Exempt Value Added Tax In Thailand
Do you know how can you exempt Value Added Tax in Thailand? Well, there are certain activities that let you exempt from the VAT.
I have listed 12 of them have below;
- Small businesses having an annual turnover lesser than 1.8 million baht;
- Sales and import of products, mostly unprocessed agricultural items including fertilizers, animal feeds, and pesticides, etc.;
- Sales and import of textbooks, magazines, and newspapers;
- Some basic services like; Domestic and international transportation through the land, Government-aided healthcare services as well as private hospitals and clinics, Government and private educational services or some other recognized educational institutes.
- Medical and auditing services
- Lawyer services and similar professional services that are regulated by laws
- Income generated from agriculture, industry, transport, business, and commerce
- Cultural services like museums, zoos, services of libraries and amateur sports
- Services related to research and technical services, services of public entertainers and employment of labor
- Goods that are exempted from import duties under the Industrial Estate law imported
- Imported goods kept under the Customs Department supervision that will be re-exported
- Other services like religious and charitable services, local authorities and services to government agencies
Since 1992 Business Tax has been removed by Value Added Tax (VAT). Individuals who are wondering whether their businesses will be imposed with VAT or not, they must know that it is an indirect tax that is imposed on value added to the each stage of production or distribution. But before anything, you must check your eligibility too. Any person who supplies goods or services in Thailand while having a total turnover that exceeds 1.8 million baht is subjected to Value Added Tax in Thailand. However, there are many more eligibility criteria too. You can speak to our experts to know about them. Call us directly or write us an email.
