Vat Late Payment Penalties

[dhrobertson]

I have several months of VAT to pay and I have incurred penalties. According to my accountant, the penalty is 20% (if over 60 days late) plus 1.5% per month. However he believes the penalty is calculated on the total VAT collected from sales (is that input or output?). Surely, the penalty should be on the net amount of VAT due? can anyone help?

[rishi]

I can give you some figures and leave it up to you to calculate percentages if you deem it useful. The situation was different than yours. After having submitted the VAT-report for January this year I discovered I had lost the receipt for one of the filed expenses and thus did not have proof of all the subtracted output-VAT.

After having been in deficit 30 days, I submitted the form stating that I had paid 163.77 Baht too little at the previous filing. Despite my humble look they charged me 174.42 Baht - meaning a fine/interest/whatever of 10.65 Baht... Percentage calculation up to those who bother.