The Company made the contract with the tenant to rent the structure as building, divided in to rooms, each room have walls and doors for open/close. The Company have delivered the possession to the tenant which the tenant have obtained or used benefit of rent assets on the date of made agreement, we would like to inquire that our income from such property rental will be exempted from VAT or not?

Panwa: For the case of Company agreed to a client to rent the assets as building firmly fixed, stabled with the land permanently in order for the tenant to obtain or use benefit of rent assets which the rental contract have defined a period and the Company have received the remuneration from rental if the Company have delivered the rent assets possession to tenant, such assets rental is subjected as the rental of property which is exempted VAT according to the Revenue Code section no. 81 (1) (r). 

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For more information, please feel free to contact us:
Phone: +66 2 933 9000
Fax: +66 2 933 6120
Email: bkk@panwa.co.th