The Certificate of Value Added Tax VS Value Added Tax How are they different?

จดทะเบียนภพ 20 VS ภาษีมูลค่าเพิ่ม ต่างกันอย่างไร

The Certificate of Value Added Tax VS Value Added Tax How are they different?

For entrepreneurs operating in Thailand You are probably familiar with the word “Value Added Tax (VAT)” and “Phop 20 Registration” are very well understood, but many people may not yet understand the difference between these two things. clearly This article will explain the differences between Por 20 registration and VAT for easy understanding.

What is Por Por 20 registration?

Registering with Por Por 20 means registering for Value Added Tax with the Revenue Department. Entrepreneurs who have been registered for Value Added Tax You will receive a Value Added Tax Registration Certificate (P.P.20) as evidence showing that the entrepreneur is a Value Added Tax Registered Operator according to law. Read more at What is Por Por 20 registration? Let's find the answer

จดทะเบียนภพ 20

What is Value Added Tax?

Value added tax means a tax collected on the added value of goods and services sold to consumers. The VAT rate in Thailand is 7%. VAT registered operators are responsible for deducting VAT from the value of goods or services sold to consumers. and remit VAT to the Revenue Department

ภาษีมูลค่าเพิ่ม

Difference between Por Por 20 registration and VAT

From the above meaning It can be seen that registering for Por Por 20 is only one step in paying VAT. Entrepreneurs who have been registered for Value Added Tax Therefore, it is responsible for remitting Value Added Tax to the Revenue Department.

The importance of registration for Por Por 20

Por Por 20 registration is important for entrepreneurs. This is because it is evidence showing that the entrepreneur is a VAT registered operator according to law. which has many advantages such as

  • Entrepreneurs can issue VAT invoices to customers.
  • Entrepreneurs can deduct the VAT paid as sales tax.
  • Entrepreneurs have the right to receive various tax benefits from the government.

The importance of Value Added Tax

Value added tax is important to the government sector. Because it is the main income of the country The collected VAT will be used to develop the country in various areas such as education, public health, infrastructure, etc.

Register for Por Por 20 and VAT Even though they are related But they have different meanings and functions. Entrepreneurs should understand these two differences. In order to perform duties legally and receive various benefits. from the government sector in full

When should entrepreneurs register for Por Por 20?

Entrepreneurs who are required to register with Por Por20 must comply with the criteria set by the Revenue Department. The current criteria are as follows.

  • Within 30 days from the date that income from selling products or providing services as a normal business exceeds 1.8 million baht per year as required by law.
  • Within 6 months before the start of business selling products or providing services If the income is expected to exceed 1.8 million baht per year.
  • If there is a contract or evidence that can prove that Construction of a factory or office building or installation of machinery will be carried out. or has acted in a similar manner An application for value added tax registration must be submitted within a reasonable time and is necessary for the construction of a factory or office building or the installation of machinery.

Cancellation of registration of Por Por 20

Value Added Tax Registered Entrepreneurs You can request to cancel your VAT registration by submitting Form Por Por 04 along with related documents at the VAT registered business establishment.

Benefits of registering with Por Por 20

  • Entrepreneurs can request a refund of VAT.
  • Entrepreneurs can issue tax invoices and receipts to customers.
  • Entrepreneurs can participate in government investment promotion programs.

Documents that must be prepared for registration of Por Por 20

  • Value Added Tax Registration Request Form P.P.01
  • Copy of ID card or passport copy
  • Copy of house registration
  • Copy of documents showing legal entity registration (if any)
  • Copy of documents showing commercial registration (if any)
  • Copy of document showing the address of the establishment

Steps for registering Por Por 20

The steps for registering Por Por 20 are as follows.

  1. Prepare complete documents
  2. Submit the VAT registration application form Por Por 20 at the Area Revenue Branch Office.
  3. Pay VAT at the specified rate.
  4. Receive a Value Added Tax Registration Certificate (Por Por 20)

Por Por 20 registration and VAT It is important that entrepreneurs should know. To comply with legal duties and receive various benefits from the government sector in full

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