Thailand: Measures to support e-tax invoices and e-receipts; relief from residential property transfer fees

The Thai Cabinet approved a draft ministerial regulation.

Relief from residential property transfer fees

The Thai Cabinet on 21 December 2021 approved a draft ministerial regulation intended to support the issuance of e-tax invoices and e-receipts and to extend tax relief measures regarding the reduction of transfer and mortgage fees for residential properties and debt restructuring.

Rules relating to e-tax invoices and e-receipts

The draft regulation regarding the issuance of e-tax invoices and e-receipt defines certain critical terms and sets forth data security measures. Other provisions require those registered for value added tax (VAT) purposes to submit an application and obtain approval from the Director-General of the Revenue Department to prepare, send, receive, and maintain e-tax invoices and e-receipts.

The issuer of e-tax invoices and e-receipts would be required to comply with the requirements for the preparation, delivery, receipt, and retention of such e-tax invoices and e-receipts (i.e., through a data security system that can provide accurately and completely the e-tax invoices and e-receipts).  

The issuance of the ministerial regulation will not affect the VAT registrants that have been certified to issue e-tax invoices and e-receipts via the “e-tax invoice by email” system under the prior rules.  

Reduction of transfer and mortgage fees for residential properties

The Cabinet extended the period of the reduction of the transfer fee from 2% to 0.01% and mortgage fee from 1% to 0.01% for the sales of certain residential properties including houses and condominiums. The intention is to provide support for individuals seeking to purchase housing.

Tax relief measure to support debt restructuring, extended for another five years

The Cabinet approved measures to extend an exemption from taxes and fees with regard to debt restructuring for income derived from certain events that are performed or executed within the five-year period 1 January 2021 to 31 December 2026.

Read a December 2021 report prepared by the KPMG member firm in Thailand 


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