Does the company name on the Tax Invoice need to be exact?

[ruds]

My accountant has been asked to reprint 8 months of invoices for a company we sell to as the company name was marginally incorrect (from Joebloggs Co.,Ltd > Joe bloggs Co.,Ltd ) This will take her some amount of time so I am wondering if it is really necessary. Has anybody come across this before? It seems ridiculous to me

[ruds]

Oh and we have already submitted our withholding tax forms for this company at the end of each month

[fletchsmile]

Yes have come across this type of thing. Not just the name but also the address.

Could be nothing comings of the small error. But if the revenue office pick it up and want to be petty they can do, so some would say best to be on the safe side.

If they decide a tax invoice is incorrect they can then disallow the expense as a tax deduction. That then creates a situation that needs resolving one way or another or the economic impact of the tax deduction being lost has to be suffered.

You could always say no, but if you value your customer then best to keep them happy. Also bear in mind it could happen in reverse one day, which is why people usually accomodate the request.

Cheers

Fletch

[p_brownstone]

You should always ask for a copy of the "PP 20" VAT Registration Form when first dealing with a new Customer and make sure the Company Name and Address on your Invoice to that Customer is exactly as shown on that Form - and that you keep it so on all future transactions.

If you do that then there can be no possible comeback from either the Customer or the Revenue Department.

By the way "Witholding Tax" - usually 3% - is only involved on "Hire of Work" type Invoices, VAT, currently at 7%, is charged on the total of any Invoice you submit to a Customer - assuming of course your Company Annual Turnover exceeds the limit (I believe 1.8 Million Baht at the moment) and your Company is Registered for VAT with the Revenue Department.

Patrick