I want to cancel VAT, but I'm not out of business. What should I do? Many people understand that. ❌ Cancel the VAT is closed. True
I want to cancel VAT, but I'm not out of business. What should I do?
Many people understand that.
❌ Cancel the VAT is closed.
Actually, not at all. You can still continue business as usual.
Just "log out of the VAT system."
✨ Preconditions
Must have an income of not more than 1.8 million baht per year.
And there must be documents confirming retrospective income.
🧾 VAT cancellation procedure
1️⃣ Show 12-month income back.
To insist that income does not reach the threshold.
2️⃣. Filed form 08.
At a registered area revenue office.
3️⃣ Attached documentation
Such as expenditure revenue accounts, receipts and business documents.
💡 cancel the VAT. So what?
✔️ No monthly VAT filing required.
✔️ Do not charge VAT 7% from customers
❗ VAT can't be refunded.
📍 easy to understand example.
👉 Case 1
Mr. A. Selling online
Full year revenue = 1.2 million baht
VAT cancellation can be filed.
Because income does not reach the threshold
👉 Case 2
Mr. B. Construction.
Full year revenue = 2.5 million baht
VAT can't be canceled yet.
Must be in the VAT system.
👉 Case 3
Mr. C has already exceeded his income and written down VAT.
But income is currently declining.
Full year revenue = 1.3 million baht
VAT cancellation can be applied for.
With 12 months of evidence required.
⚠️ should know before you make a decision.
If most of the customers are companies,
Tax bills are often needed.
It may not suit VAT cancellation.
If sold to a typical customer,
The cancellation of VAT may make it easier to price sales.
📣 Summary
Abolishing VAT reduces the document workload.
But it should be considered primarily by revenue and customer type.
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🏢 Accounting Office "Win Thir."
💼 comprehensive care of accounting, tax and business.
Because the success of the customer is Bharat.# Online account
🛠️ Our services.
📊 do monthly / annual accounting
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