We would like to know if the VAT credit in amount of Baht 11,456.87 can be refunded as cash or not? Please advise.
Panwa: Yes, the company can refund such VAT credit according to Revenue Code section 84, however, for the company’s case, you need to be concerned about the sale price is lower than the cost price from your selling product. In case the company submit the request of VAT refundable, the officer will require to audit the Company’s accounting and tax documents before approve refundable and also, they have authority to assess the tax from such issue if it is without the reason according to Revenue Code section 65 bis (4) and section 79/3. If you need further assistance for monthly tax filing (VAT filing) and monthly accounting, kindly note that we could assist for such, click here.
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