The VAT-THAI tax type represents a group of tax names used for VAT that you claim. You must create a tax type named VAT-THAI because the VAT reports use this name to determine which of your tax lines are for VAT taxes.

Use the tax name VAT Goods for goods invoices. Assign it an accounting flexfield that corresponds to your actual claimed VAT account. Goods VAT expenses are booked directly to your VAT expense account.

Use the tax name VAT Services for services invoices. Assign it an accounting flexfield that corresponds to your VAT reserve account. Services VAT expenses are booked automatically to your reserve account, not to your regular VAT expense account.

UNCLAIMED-VAT

The UNCLAIMED-VAT tax type represents a group of tax names used for VAT that you do not claim.

Hint: We suggest you create the tax name Unclaimed VAT for this tax type so that you can separate the unclaimed tax types from the claimed tax types on reports to the government. If you book unclaimed VAT to reserve accounts for services invoices, you can create two tax names for unclaimed VAT, as you did for regular claimed VAT.

NO-VAT

Use the NO-VAT tax type and No VAT tax name for invoice lines to which no VAT tax is applied.