Post by account_disabled on Dec 10, 2023 21:25:40 GMT -8
When eating at restaurants or buying products in various places, have you ever noticed the word VAT 7% or Value Added Tax displayed on restaurant bills or products? Have you ever wondered what Value Added Tax is? Who collects and who has to pay? For shops and entrepreneurs, are they required to register for Value Added Tax with the Revenue Department? Today we will take everyone to find the answer. What is Value Added Tax? Value Added Tax, also known as VAT for short, is a tax collected from the sale of goods or various services, the production of goods, and the importation of goods from abroad, such as stores, restaurants, or various products.
Value Added Tax is Collected by the Revenue Department The charge rate is 7%. Registering VAT or Phone Number List registering Value Added Tax is The law stipulates that shops and entrepreneurs selling goods or services and have an income of more than 1.8 million baht per year must be a VAT registrant. Who must pay VAT? Even though business and shop owners are responsible for filing additional tax registrations. But in reality, this tax "consumer" or customer is the person who has to pay it. The collection of Value Added Tax comes in 2 prominent forms: 1. In the purchase of goods or products, this tax is already included in the price of the product.
The tax will be enumerated on the receipt for you again without any additional charges being added to the original product price. 2. Value added tax from eating at restaurants. which will not be included in the meal price But there will be an additional charge when the customer has to pay the fee. It will be written on the receipt as VAT 7%. For entrepreneurs who are unsure whether their business must register for VAT or not. Here we have information for entrepreneurs who need to file VAT registration with the Revenue Department. It's good information to use to prepare your documents and be ready to submit them yourself.
Value Added Tax is Collected by the Revenue Department The charge rate is 7%. Registering VAT or Phone Number List registering Value Added Tax is The law stipulates that shops and entrepreneurs selling goods or services and have an income of more than 1.8 million baht per year must be a VAT registrant. Who must pay VAT? Even though business and shop owners are responsible for filing additional tax registrations. But in reality, this tax "consumer" or customer is the person who has to pay it. The collection of Value Added Tax comes in 2 prominent forms: 1. In the purchase of goods or products, this tax is already included in the price of the product.
The tax will be enumerated on the receipt for you again without any additional charges being added to the original product price. 2. Value added tax from eating at restaurants. which will not be included in the meal price But there will be an additional charge when the customer has to pay the fee. It will be written on the receipt as VAT 7%. For entrepreneurs who are unsure whether their business must register for VAT or not. Here we have information for entrepreneurs who need to file VAT registration with the Revenue Department. It's good information to use to prepare your documents and be ready to submit them yourself.