One of the topics of training that we provide for our accounting clients’ staff is the invoice, receipt and tax invoices. Today, we talk about when to issue a tax invoice if you are a company engage in service business.
Normally when you invoice your clients for your services or deposits, you give them only an invoice. Because you are a service business, you do not need to issue a Tax Invoice until you are paid. So some companies combine their receipt and tax invoice into one document.
Some of your clients may be demanding, especially the bigger ones. They may ask that you submit a Tax Invoice at the same time as invoicing them. This is normally the case that they want to force their service providers to give them the Tax Invoice before they pay because sometimes when they pay, the vendors may give them a receipt but not a tax invoice, or the tax invoice may not be 100% correct and the clients find it too hard to follow up with the vendors to reissue the tax invoice. If some of your clients demand that you also send them the Tax Invoice at the time you invoice them, we think you want to comply with them even though the Thai tax law does not say so. However, you will have to submit the VAT to the Revenue Department within the 7th of the following month after you issued the tax invoice.
Contact MSNA for your Thailand accounting, tax and business needs. Our Thai accounting and Thai payroll services include consultation with our English speaking accountants in terms of Thai accounting and tax laws, labor issues and other related matters.