Showing 1 - 10 of 38
Tax refunds delayed by surge in fake submissions
Business, Wichit Chantanusornsiri, Published on 27/05/2024
» The delay in personal income tax refunds this year is partly related to stricter document verification, as more fake documents were submitted to claim refunds, according to the Revenue Department.
Authorities nab fake VAT invoice gangs
Business, Wichit Chantanusornsiri, Published on 16/02/2024
» The Revenue Department is developing a data analytics system for entrepreneurs to enter the tax payment system and avoid counterfeit tax invoices, says director-general Kulaya Tantitemit.
VAT reverse charge scheme in the pipeline
Business, Wichit Chantanusornsiri, Published on 18/07/2023
» The Revenue Department is planning to launch a value-added tax (VAT) reverse charge scheme in the scrap metal industry to reduce the risk of refund fraud by January 2024, says director-general Lavaron Sangsnit.
Banking on technology
Business, Wichit Chantanusornsiri, Published on 01/11/2021
» State agencies and state-run banks have been harnessing technology to enhance their performance, ranging from analysing suspicious tax evasion cases to facilitating bank customers conducting a live chat to request a loan.
Ministry setting up cash for 2m disabled
Business, Wichit Chantanusornsiri, Published on 25/04/2020
» The Finance Ministry is seeking a lifeline for the 2 million disabled and underprivileged people who are adversely affected by the coronavirus outbreak, says finance permanent secretary Prasong Poontaneat.
Trying to get taxes right, many SMEs miss criteria
Business, Wichit Chantanusornsiri, Published on 22/01/2020
» A mere 30% of 79,000 small and medium-sized enterprises (SMEs) that sought to correct their financial statements to comply with the single financial account scheme have met the Revenue Department's criteria.
Single account scheme attracts 24,000 SMEs
Business, Wichit Chantanusornsiri, Published on 01/05/2019
» Some 24,000 small and medium-sized enterprises (SMEs) have already signed up to sort out their financial accounts from 2016-17, meeting standards to avoid late payment penalties and criminal liability, says the chief of the Revenue Department.
SMEs given 'last chance' to cough up taxes
Business, Wichit Chantanusornsiri, Published on 28/03/2019
» The Revenue Department has given an ultimatum to small and medium-sized enterprises (SMEs), saying it is the last chance to avoid fines and a waiver of criminal liability, but demanding they register and comply with the single financial account to avoid a severe tax probe in the future.
Blockchain undergoes tests for tracking VAT payments
Business, Wichit Chantanusornsiri, Published on 03/12/2018
» The Revenue Department is testing blockchain to track value-added tax (VAT) payments in its innovation lab, putting Thailand on the path to becoming the first country to use the distributed ledger for tax probes if the technology is adopted.
Revenue aces 2018 target
Business, Wichit Chantanusornsiri, Published on 19/10/2018
» The Revenue Department managed to collect more tax revenue than targeted for fiscal 2018, thanks mainly to more efficient inspection of large companies with understated tax bills.