Exports & Vat

[a269652]

I'm toying with the idea of starting a business, but given that it's income will be less than 1 million per year, I won't get it registered for VAT.

Question: When I sell something for export, do I need to charge VAT? I don't believe so.

[soundman]

I'm toying with the idea of starting a business, but given that it's income will be less than 1 million per year, I won't get it registered for VAT.

Question: When I sell something for export, do I need to charge VAT? I don't believe so.

No - VAT is not applicable to exported goods. You also get a refund of all VAT paid on the goods purchased in Thailand.

You may have some troubles getting an export card / liscense without showing a certain size capital for your business. I did my export card so long ago I have forgoten all the details / requirements so can't be much help in this department.

Cheers,

Soundman.

[a269652]

No - VAT is not applicable to exported goods. You also get a refund of all VAT paid on the goods purchased in Thailand.

Thanks. Sure I'll get a refund? Even if my company is NOt registered for VAT?

[soundman]

No - VAT is not applicable to exported goods. You also get a refund of all VAT paid on the goods purchased in Thailand.

Thanks. Sure I'll get a refund? Even if my company is NOt registered for VAT?

Probably should check with an accountant.

[xbusman]

Everything you buy in Thailand, you have to pay VAT tax on.

If you register as an exporter, you will be able to register all the VAT you pay and on export you will be refunded that segment of VAT.

Sounds easy dont it?

My first VAT refund was three years in the making. Even then, I only received about 50% of the VAT due me. Now, I get a check every month and its about 90% return.

If you are not registered for VAT taxes, you cannot get a refund (how could you?).

[raro]

You can only get a registration with Thai customs for your company if you are VAT registered. Otherwise you can register only as a private person. If you are not a Thai citizen, you can do that maybe once or twice and then customs will ask questions about your work permit.

[Soi105]

My first VAT refund was three years in the making. Even then, I only received about 50% of the VAT due me. Now, I get a check every month and its about 90% return.

Can anybody recommend me a good accountant? I export for almost 10 years and never received the VAT. The only way they give (a part) back is examining my books very close, and then they will ofcourse aways find something what is not 100% clear, and then the fine is always almost the same as the refund

My current accountant informed me that monthly VAT refunds can only be done for companies with yearly turnover of more than 100 Million THB. I am just under that I can only apply for the yearly refund.

Thanks

[seppl04]

My first VAT refund was three years in the making. Even then, I only received about 50% of the VAT due me. Now, I get a check every month and its about 90% return.

Can anybody recommend me a good accountant? I export for almost 10 years and never received the VAT. The only way they give (a part) back is examining my books very close, and then they will ofcourse aways find something what is not 100% clear, and then the fine is always almost the same as the refund

My current accountant informed me that monthly VAT refunds can only be done for companies with yearly turnover of more than 100 Million THB. I am just under that I can only apply for the yearly refund.

Thanks

can name some good Accountants, but that depends where your biz is !

[fletchsmile]

Generally there's no VAT on exports in Thailand

There are a couple of exceptions tho': eg Websites and related e-industries. The Thai Revenue decided that if you produce websites in Thailand for an overseas client then it is subject to VAT. Their rational is that the overseas website may be looked at by Thais.

BTW Actually I think strictly speaking exports are zero rated rather than exempt from VAT.

Edited October 6, 2007 by fletchthai68

[Soi105]

can name some good Accountants, but that depends where your biz is !

I am located in BKK

[Nahum]

I am openning a company that will export tp the US and I need to locate a competant accounting person who knows how to structure the VAT buy and VAT sell so that we are exporting properly. Can anyone recommend an accountant like this.