As a way to support exporters in Thailand, the Thai Revenue Department (TRD) makes every effort to help increase the international competitiveness for local businesses. Hence, the TRD categorize exporters into ordinary exporters, good exporters and registered exporters.
Today, we summarize the criteria set by the TRD for Registered Exporters in Thailand. This is in accordance with the Departmental Instruction No. Tor.597/2545 dated 19 December B.E. 2545.
Qualifications of a Registered Exporter
For exporters who would like to be considered as Registered Exporters, they must have the following qualifications:
- The exporter must be a juristic company or partnership or an individual who is a VAT registered.
- The exporter must have carried on business of not less than 12 months and have ratio of goods exported abroad not less than 50% of total sales in the last 12 months prior to submitting the Registered Exporter Application form and have proof of bringing foreign currency into Thailand or a proof that shows the transaction has been set-off.
- The exporter must have stability and continuity in operations and have ownership rights in immovable property e.g. land, building, factory and etc.
- The exporter must have net assets exceed net debt for the last accounting period prior to submitting the Registered Exporter Application Form for a limited company or partnership.
- The exporter must have good tax history, have paid taxes according to the real business situation, and have never avoided paying taxes.
- The exporter must be a member of commercial association(s) or private organization(s) e.g. Thai Chamber of Commerce, Provincial Chamber of Commerce etc. and such association(s) or organization(s) can verify the credibility and reliability of the company’s financial status.
Conditions
Exporter who will be approved as Registered Exporter must meet the following conditions:
- The exporter has VAT refund directly deposited into the bank account.
- If possessing branch office(s), the exporter must be authorized to file tax return and pay VAT in consolidation.
- In case an exporter is a juristic company or partnership, the Certified Public Accountant or Tax Auditor who will verify and certify financial statement for the accounting period in which the company submits the Registered Exporter Application Form, must be appointed by consent of the shareholders meeting and must follow the conditions in Section 3 septem of the Thai Revenue Code. The exporter must submit CPA’s name and registration number, CPA office’s name, an accountant’s name and accounting office’s name.
The above information outlines the general conditions and qualifications for a Registered Exporter applicant and is subject to any changes without prior notice. Interested to become a Registered Exporter in Thailand, contact MSNA for Registered Exporter application.