This article explains how Thailand’s VAT rules treat trade and cash discounts, highlighting that only trade discounts granted at the time of sale and without conditions can be excluded from the VAT base. It cites the Revenue Department ruling No. Kor.Kor.0702/6077 (14 Oct 2025) that requires VAT to be calculated on the full selling price for conditional discounts, and notes that no VAT credit note can be issued when a deposit is refunded.
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Nation Thailand · 2 months ago
Fitch Ratings warns that Thailand’s medium‑term fiscal framework relies on phased VAT increases that are politically difficult to implement, potentially delaying deficit reduction. The plan targets a 2.1% GDP deficit by FY2030, with VAT rising to 8.5% in FY2028 and 10% in FY2030. Political bargaining within the coalition government could jeopardise these fiscal objectives.
Basware · 1 day ago
Singapore’s GST InvoiceNow e‑invoicing mandate, effective November 2025, requires all GST‑registered businesses to transmit invoices through the national InvoiceNow network using structured XML standards such as SG Peppol BIS or PINT‑SG and to report invoice data to IRAS. The article outlines buyer and supplier responsibilities, handling of exceptions (PDF, cross‑border, inter‑company) and stresses the need for robust process controls and compliance confidence.
Shared Services Link · 7 days ago
Singapore has extended its e‑invoicing mandate to all new voluntary GST registrants from 1 April 2026, requiring them to use InvoiceNow and send structured invoice data via the Peppol network. Existing GST‑registered businesses are exempt for now, with a broader rollout planned through 2031. The move is part of the city‑state’s digital tax agenda to improve compliance and streamline processes.
VatCalc · 9 days ago
Vietnam's Ministry of Finance has issued a draft decree to streamline e-invoicing for e-commerce and low-value transactions, shifting invoice issuance to platform operators and allowing small businesses below thresholds to issue consolidated daily invoices. The Finance Ministry also proposed extending e-invoicing to businesses with sales above VND 1 billion on 10 December 2025, and Circular 32/2025 provides detailed guidelines on numbering, use cases, and service provider standards. A June 2024 directive urges the remaining non‑compliant businesses, especially retail outlets, to adopt e‑invoicing, following the successful Phase 2 rollout in 2022 that registered 92 % of obligated taxpayers.
Rappler · 10 days ago
The Philippine Tax Whiz outlines the VAT exemptions available to natural gas stakeholders under Revenue Regulation No. 2‑2026. The guide explains that indigenous natural gas purchases and sales, as well as electricity generation using indigenous gas, are fully VAT‑exempt, and details the documentary requirements and eligible parties. It also highlights the need to indicate the exemption in the Quarterly VAT Declaration.
AnewZ · 12 days ago
Uzbekistan has launched a VAT refund system for foreign tourists effective 1 April 2026, allowing visitors to reclaim 85 % of VAT on purchases of at least 300,000 soums. The scheme will initially operate at all international airports and is planned to extend to railway stations and border checkpoints. The move accompanies a broader privatisation drive aimed at reducing state ownership to 15 %.
This summary was published on VATfaqs.com on 8 January 2026. It relates to VAT developments in Thailand. The original source is PKF Thailand.
