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Real Property Lease & Service Contracts with THB ≥1M Contract Value to be Subject to Stamp Duty

Thai Revenue Department (the "RD") just issued a new regulation on stamp duty, negating the prevailing deferral of payment for stamp duty on real property lease agreement and service contract. Principally, stamp duty is imposed on various contracts and instruments, e.g. promissory notes, bills of exchange, powers of attorney, letters of credit, checks, loan contracts, lease contract, hire-of-work contracts. The rates of stamp duty vary upon the type of the instruments or transactions subject to duty. So far, the 0.1% stamp duty imposed on a contract for lease of land, building, structure or raft of which registration is not required, and a contract for hire-of-work between non-governmental p

Regulation on Additional Contents of Tax Invoice and VAT Records Became Effective Since 1/1/2015

According to the Notifications of the Director-General of the Revenue Department No. 194-197, as from January 1, 2015: 1. All tax invoices issued for sale of goods or services must contain all of the following details: Tax ID No. of the buyer of the goods or services Place of Business, i.e. “Head Office” or “Branch No. …”, of the seller from which the tax invoice is issued Place of Business, i.e. “Head Office” or “Branch No. ….” of the buyer to which the tax invoice is issued 2. Any credit note or debit note issued with reference to any tax invoice issued must also specified the same Tax ID No. as well as place of business of both of the seller and the buyer as the tax invoice. 3. Any

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