The IRS stands to import alternative vaccines without VAT 2 rebounds
Mrs. Sommai Sirudomseth Strategic consultant on taxation (Energy Business Group) as a spokesperson for the Revenue Department In the event that there is a current news for the import of alternative vaccines into the country, they are subject to VAT 2 times (14%), resulting in a higher cost of vaccines. This is not true at all. The said news report contains inaccuracies that may cause misunderstanding to the public.
This is because in the calculation of the Value Added Tax (VAT) system is sales tax less input tax, for example, the vaccine importer imported the vaccine at a price of 100 baht with 7% VAT or 7% VAT on the import, the purchase tax is 7 baht (which the purchase tax If the importer is able to refund or deduct it from the sales tax) and when the importer sells the vaccine for 100 baht as well (if there is no 10% chart as the news), it will lose. 7% sales tax is 7 baht, calculated value added tax is sales tax minus input tax (7 baht - 7 baht) = 0 baht.
"Therefore, the news report that the purchase tax is 7 baht plus sales tax 7 baht, totaling 14 baht is not correct at all," Sommai said.
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