Regulatory updates - Thailand
Get the latest news and updates on e-invoicing, e-ordering, e-archiving and indirect tax regulatory requirements.
Thailand extends reduced standard VAT rate until 30 September 2025
In Thailand, the standard Value Added Tax (VAT) rate is 10% for sales of goods, provisions of services and imports of goods. The reduction of the VAT rate to 7%, initially set to expire on 30 September 2024, has been extended for another year.
Thai government extends the measures to promote e-Tax systems
The Cabinet has approved the regulation supporting the e-Tax systems for another three years. Taxpayers using the e-tax invoice, e-receipt, and e-withholding tax systems can benefit from the tax deduction on certain expenses and withholding tax rate reduction till 31 December 2025.
E-Tax invoice and e-invoicing systems currently utilized in Thailand
Thailand has introduced two e-invoicing systems for taxpayers to adopt on a voluntary basis. Following the global digitalization trend, the Thai government encourages taxpayers to switch to e-Tax invoices.
Thailand VAT rate reduced as part of economic relief package
The Thai government has approved measures to reduce the national VAT rate and social security contribution rates. The reductions come as part of a series of relief packages launched by Prime Minister Prayut Chan-o-cha to stimulate the economy.
Country Specifications
E-Invoicing/CTC Model:
RTIR
Mandatory Infrastructure:
e-Tax Invoice & e-Receipt System
Mandatory Format:
Local XML
Mandatory for Issuing:
Optional
Mandatory for Receiving:
Buyer’s consent required
eSignature:
Required
Archiving Period:
10 years
Archiving Abroad:
Allowed under conditions