Invoicing clients across borders can sometimes be a challenging task. When issuing an invoice, it is important to ensure you follow regulations in order to ensure your invoice is compliant with local laws. Such documents are important for both tax purposes and as proof of a transaction. INS Global has the necessary expertise to help your enterprise invoice clients in Thailand.
What is an Invoice?
An invoice is a document that is provided by a seller to a buyer in a commercial transaction. This document can be transmitted physically or digitally, and contains details of the parties in a transaction as well as details of the goods or services being exchanged.
Invoicing a Client in Thailand
When invoicing a client in Thailand it is important to ensure that the invoice is issued in accordance with local regulations. It is also important to ensure that an invoice is paid according to the terms negotiated by the parties and contains all the necessary information.
When an invoice is issued in Thailand, the Revenue department will then make a note that taxes need to be paid. This is important for both corporate tax and VAT purposes. For VAT purposes it is highly important as VAT is payable to the Revenue department on a monthly basis.
Requirements for a Tax Invoice in Thailand
A tax invoice is required to have the following information in order to be valid:
- The words ‘Tax Invoice’ (displayed clearly)
- Date of issue
- Name and address of the supplier
- Supplier’s tax id number
- Name and address of purchaser
- Description and quantity of the goods or services sold
- Invoice serial number
Generally, a tax invoice issued in Thailand is to be issued using Thai as the language and in Thai baht (the currency of Thailand). However, a VAT operator may issue a tax invoice in English and using a foreign currency, with approval from the Director General.
Why Outsource Client Invoicing in Thailand?
There are various advantages your company gains from outsourcing client invoicing, such as:
- Expertise – Our team stays up to date with local regulation, ensuring your invoice meets the standards and norms of an invoice in Thailand
- Efficient Record – INS Global has a well-organized system of invoicing and record keeping, for ease of reference
- Reduced Costs – Transactions across borders may end up being costly if the correct procedures are not followed
- Various Currencies – Payment can be remitted in currencies such as EUR, USD or CNY, for the convenience of our clients
INS Global Invoicing in Thailand
As Asia’s leading HR solutions firm our experts are able to help your enterprise invoice your clients in Thailand. INS Global has an efficient and reliable invoicing system, which simplifies the entire process for your company and ensures you remain compliant with local regulations.
Our team can assist you with:
- Invoice preparation;
- Adjusting the invoice to the particular needs of your enterprise;
- Processing the payment of your client; and
- Issuing the proof of payment and necessary tax receipts.
Our fee consists of a standard management fee based on the total invoice amount, without an extra hidden or withholding costs.
Partner with INS Global in Thailand
INS Global has helped more than 300 companies across Asia, over the past 14 years. We are dedicated to providing our clients with efficient, high quality service in an array of different areas such Recruitment, Payroll, PEO and many more. Get in contact with us today and let us help your enterprise reach new heights.