Payment time for paying VAT (Value Added Tax)?

[buddy]

Hi Guys,

What is the legal timeframe for paying your VAT in Thailand?

I have been informed that it is paid monthly, however a payment was received on 26th June and we were informed by our accountant that the VAT had to be paid by the 7th July.

Although 7th July falls in the next month, is this correct as only 10 days would have passed before we have to pay, not one month!

Can anybody please clarify if this is correct?

[monty]

VAT is payable once every month (before the 15th), on the revenue of the previous month.

So every month before the 15th, you have to submit form VAT30 on which is filled out with input and output vat (and a bunch of other numbers) based on your total sales/expenses of the previous month.

Basically,if you have 1 sale on the 1st of the month, you have 6 weeks to pay the VAT, if your sale is on the last day of the month you have 2 weeks!

[buddy]

Thanks Monty for the clarification, much appreciated.