About Service.
Taxation is the main source of Thailand’s income. Pursuant to regulatory requirements, its Revenue Department require registered companies to collect the Value Added Taxes and Withholding Taxes. On timely bases the monies collected are submitted with the required reports to the Thai government.
Oracle and Rapid4Cloud made a partnership to implement the Thai Localization for Oracle Cloud’s users.
There are two (2) main type of taxes in Thailand localization:
Value Added Tax (VAT).
This is a general consumption tax that is collected incrementally, based on the value added. It is collected every time a business purchases products or services.
Withholding Tax.
It is collected by a deducting a portion (%) of a payment. The party making payments and withholding the taxes will remit it, with the required reports to the revenue department on behalf of the payees.
Modules Included.
The Thailand Tax Localization feature will generate a set of value added tax and withholding tax related reports that will meet Thailand’s regulatory requirements in the following modules.
Payables
Receivables
General Ledger
Inventory
List of Reports.
The Thailand Tax Localization feature will generate a set of value added tax and withholding tax related reports that will meet Thailand’s regulatory requirements in the following modules.
Payables VAT Reports.
Thai Input Tax Summary Report
Thai Payment Delivery Report
Thai Payable Incomplete Tax Invoice Report
Thai Value Added Tax Return (P.P. 30)
Thai Input Tax Summary Report (Average VAT)
Thai Input Tax Summary Report (including JV)
Thai Value Added Tax Remittance Return (P.P. 36)
Receivables VAT Reports.
Thai Output Tax Report
Thai Output VAT Suspense Detail Report
Thai Output VAT Suspense Summary Report
Payables Withholding Tax Reports.
Thai Vendor WHT Certificate Report
Thai Vendor WHT Summary Report
Thai WHT Return Attachment (PND2) Report
Thai WHT Return Attachment (PND2A) Report
Thai Withholding Tax and Profit Remittance Return (P.N.D. 54)
Stock Cards Reports.
Thai Goods and Raw Materials Report
Thai Goods and Raw Materials with Cost Report
Timelines & Responsibilities.
* This is Partner responsibility to setup the following ERP Cloud configuration, and must be completed before Integration Testing including: Company Information, Business Unit Setup, Configuration for VAT and Withholding Tax percentages, Master Data with Additional Tax Information (Supplier, Customer, Establishment (Legal Reporting Unit)) and Transaction to be used for Testing.
** The purpose of Integration Testing is to ensure the data is synchronized from ERP Cloud to PaaS successfully, ensure the reports can be run and output successfully, ensure the Thai Withholding Number can be generated.
