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 · 23 days 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.
VatCalc · 1 day ago
From 23 August 2026, non‑resident providers of digital services to Azerbaijani consumers must register with the tax administration and charge 18% VAT, replacing the previous withholding‑tax regime. The VAT registration threshold is AZN 17,000 per annum, and the current VAT rate of 18% applies to all domestically supplied digital services. Implementation guidance and FAQs are expected before the August deadline.
PV Tech · 1 day ago
China has removed the 9% export VAT rebate on PV modules, marking a shift from price‑led subsidies to value‑based competition. The change is expected to raise costs for manufacturers and influence module pricing across markets. The policy reflects industry maturity and a focus on quality, efficiency, and long‑term bankability.
Vietnam Briefing · 3 days ago
Vietnam’s 2025 VAT Law expands refund eligibility to investment projects, exporters, and 5%‑rate businesses with at least VND 300 million in accumulated input VAT, while tightening documentation and audit requirements. Key changes include removal of refunds for ownership or structural changes, stricter rules for deferred payments, and new limits on import‑export refund eligibility.
VatCalc · 4 days ago
Japan is considering a temporary withdrawal of the 8% reduced consumption tax on food for up to two years, with the bill slated for the Autumn 2026 Diet session. The move would cut annual tax revenue by about ¥5 trillion, while the current standard rate remains 10% with an 8% reduced rate for food. The ruling LDP has resisted the cut, citing the tax's importance for funding social security.
The Hindu · 5 days ago
India’s GST rationalisation introduced a two‑tiered rate structure of 5% and 18% in September 2025, boosting domestic consumption. However, February 2026 saw a sharp rise in import IGST collections—up 17% YoY—driven by a weaker rupee and higher import costs, which may erode the price relief from the new rates.