Vat Registration

[rizpar]

We have a problem now from last year with our accountant and therefore our accounts. We have a Ltd Co. on Koh Samui providing training services to resorts, hospitals and retailers.

Last year in september we reached 1.8 million baht for the year to date. Despite having an outsourced, supposedly qualified, accountant, she did nothingabout this until December, when she informed us that we should have applied for VAT registration in September, and that we now owed 150,000 baht VAT.

By the time she got us a VAT number, it was February 2007. Since then, she has changed her mind about 5 times over what we have to do now.

The problem is that we should have charged VAT to our customers from October 2006 onwards, but didn't.

First she told us she would move the accounts into the new financial year, and therefore after the registration date to get rond the problem. Then she decied she couldnt do that. Then she told us to issue back dated invoices including VAT with our new VAT no in February. Then we had to do it all over again because she didnt tell us that VAT invoices are a very specific layout. Then she told us to invoice again, but ONLY the VAT on the invoice. Finally now, four months later, she says we cant invoice or collect this VAT from before Feb 2007, so she doesn't know what to do.

Does anybody know anything official about the system?

I would also like to know how much a licensed accouuntant is responsible for the mistakes they make or the illegal practices they undertake.

Thanks

[lingling]

We have a problem now from last year with our accountant and therefore our accounts. We have a Ltd Co. on Koh Samui providing training services to resorts, hospitals and retailers.

Last year in september we reached 1.8 million baht for the year to date. Despite having an outsourced, supposedly qualified, accountant, she did nothingabout this until December, when she informed us that we should have applied for VAT registration in September, and that we now owed 150,000 baht VAT.

By the time she got us a VAT number, it was February 2007. Since then, she has changed her mind about 5 times over what we have to do now.

The problem is that we should have charged VAT to our customers from October 2006 onwards, but didn't.

First she told us she would move the accounts into the new financial year, and therefore after the registration date to get rond the problem. Then she decied she couldnt do that. Then she told us to issue back dated invoices including VAT with our new VAT no in February. Then we had to do it all over again because she didnt tell us that VAT invoices are a very specific layout. Then she told us to invoice again, but ONLY the VAT on the invoice. Finally now, four months later, she says we cant invoice or collect this VAT from before Feb 2007, so she doesn't know what to do.

Does anybody know anything official about the system?

I would also like to know how much a licensed accouuntant is responsible for the mistakes they make or the illegal practices they undertake.

Thanks

Get a new accountant, fire the old one, pay the revenue dept and move on. You're just going to waste more of your time, money and energy if you do anything else.

[Cyberstar]

Agreed.

If your company is VAT registered the amounts your customers paid were by definition inclusive VAT - so, actually you have charged the VAT regardless of whether or not you thought so. Of course, you're free to try to get your customers to pay what you feel you forgot to charge. Whether or not you issued tax invoices is a non issue to RD - you're only required to issue one if your customers request it. E.g. - about 50% of my VAT registered company's turnover stems from petty over-the-counter sales, I don't write tax invoices for that part of turnover and I can assure you those customers don't care or even know that a bit less than 7% of their payment goes directly into the pockets of RD, which most certainly does want their share regardless.

[mrt273nva]

my problem is opposite. i am VAT registered but i don't need to be. is there any way i can go about canceling it? I heard from my lawyer that i have to wait 3 years (but i don't trust her).