Transcript of the above video:

As the title of this video suggests, we are discussing VAT and for those who are unaware, that is Value Added Tax. So pretty much in Thailand, any company, any ongoing business that is of a certain size, I mean any rather substantial even sole proprietorship is going to have to deal with Value Added Tax. There is a Value Added Tax system where you get debits, you have to pay in but you may get credits and if you build up enough credits, you may be able to get a refund. 

I thought of making this video after reading a recent article from the Bangkok Post, that is bangkokpost.com, the article is titled: Businesses urged to use digital tax system. Quoting directly: "The Revenue Department is encouraging entrepreneurs to use the digital tax system which will make Value Added Tax (VAT) refunds five times faster than they currently are, says the Director-General Lavaron Sangsnit. The Department aims to have a 100% digital system by 2028."

Yeah, I don't know how I feel about that whole 100% digital tax system thing. Yet again, all of this digitization kind of makes me uneasy because again, do you really want your Government, especially your tax collectors, having 100% efficiency? I could see arguments against that. That being said, for the purposes of the article, they do point out one possible up shot or at least one possible benefit which is it maybe faster to go ahead and get your tax refunds. That said, it may also be a lot faster for them to assess that you are in arrears and tax you accordingly, so again, these are things to understand. For those who find themselves sort of overwhelmed by the Thai Tax System, and I can certainly understand that, it might not be a terrible idea to contact Accounting and Tax professionals and gain some insight and guidance into how best to proceed.