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 output VAT records must specify the Tax ID No. and the place of business of the buyers of goods or services and any input VAT records specify the Tax ID No. and the place of business of the respective sellers of the goods or services.

Failure to specify any required contents in VAT documents may be sanctioned as described below.

(1) The seller who fails to specify the complete required contents may be punished by fine of THB 2,000 per each document.

(2) The buyer of goods or services who uses the incomplete tax invoice or debit note as their input tax credit may be subject to rejection of the input tax credit, deemed disallowed input tax, penalty equal to the disallowed input tax, with surplus at the rate of 1.5%/month thereon. Moreover, the disallowed input tax will not allowed as expenses as well.

Nevertheless, the buyer is entitled to request the competent revenue officer to suspend the assessment while the buyer is arranging for the issuing seller to cancel and replace the tax invoice or debit note with a complete one. In practice, the officer will allow 1-2 months for the alteration.

(3) Any incomplete input or output VAT records will be subject to a fine of THB 2,000 per each monthly record.

By Phongsak Sirirakwongsa, Pakorn Tewkhunthong

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