1. Which businesses are not subject to SBT?

A. Sale of Immovable properties which required registration of rights and juristic acts in commercial manner.

B. Securities trading under Repurchase agreement.

C. Provision of business advisory.

D. All above businesses are subject to SBT.

2. Which service of the commercial bank will normally be subject to VAT?

A. Mortgage or personal loan

B. Foreign exchange trading

C. Safe box rental

D. Deposit

3. Which choice is not the current available SBT rate (including local tax)?

A. 0.011%

B. 0.11%

C. 2.75%

D. 3.3%

4. Which statement is True about the Thai transfer pricing law?

a. According to the new transfer pricing law (issued in 2018), the tax payer may be additionally required to prepare the Transfer pricing disclosure form if the annual revenue is more than Baht 200 million.

b. Before 2018, there is no applicable law and regulations under the Revenue Code about transfer pricing in Thailand.

a. Both (a) and (b) are correct.

b. Both (a) and (b) are incorrect.

5.Which scenario will be exempted from SBT?

a. Mr. A sold its own house which the name of Mr. A appears on the house register for more than a year.

b. Mr. A transferred land for free to his daughter.

c. Both (a) and (b) are exempted from SBT.

d. Both (a) and (b) are subject to SBT.

6. Which items are NOT the required contents/ particulars in the SUMMARY of tax invoice?

A. Name, address, and Tax ID of the seller / service provider.

B. Name, address, and Tax ID of the buyer / customer.

C. The wording of Head office or Branch.

D.All of above are required.

7. Which one is False about Stamp duty?

A. There are 28 instruments which subject to stamp duty.

B. E-instrument is not subject to stamp duty.

C. An instrument which is not duty stamped, it is shall not be admitted as evidence in any civil action.

D. All of above statements are True.

8.About an adhesive stamp, which are the required processes on how to pay stamp duty?

A. Affixing stamp duty to the paper.

B. Drawing lines across the stamp affixed on the paper.

C. Marking the date the stamp affixed.

D. All above are the required processes.

9- Which transaction is subject to Stamp duty? (Co. = Company)

a. Co. A is verbally agreed to provide tax advisory service to Co.B.

b. Co. C send the offering memo to Co. D to ask for tax advisory service.

c. Co. D send the acceptance memo to accept for rendering service to Co.C.

d. If (b) and (c) are connected, this transaction will be subject to stamp duty.

10.Which transaction under Finance or Credit Foncier is not subject to SBT?

A. Hire purchase

B. Loan/ Lending

C. Sale with right or redemption

D. Deposit

11- With regards to 'Domestic Consumption Principle', which transaction should be subject to 7% VAT in Thailand?

a. Export of services to customer in England.

b. Provide services to customer in Thailand.

c. British service provider provides service in England, but the service is then consumed in Thailand by Thai customer.

d. Both (b) and (c).

12-Which choice is correct about the disallowed input VAT?

a. Input VAT from incomplete tax invoice.

b. Input VAT from missing tax invoice.

c. Both (a) and (b). These input VAT can be treated as deductible expenses.

d. Both (a) and (b). These input VAT cannot be treated as deductible expenses.

13-Which transaction is also regarded as 'Sale' per VAT law?

a. Hire-purchase.

b. Stock loss.

c. Export of goods to overseas.

d. All above are correct.

14- According to 15 BEPS actions of OECD, which action is related to Transfer pricing?

a. Action 1: Address the tax challenges of the digital economy.

b. Action 5: Counter harmful tax practices more effectively, taking into account transparency and substance.

c. Action 6: Prevent treaty abuse.

d. Action 13: A three-tiered approach to documentation.

15- The XYZ Real Estate Company Limited (which is a house developer) sells one house from a total of 30 houses in Chieng Rai Project to Ms. Somying for Baht 2.5 million. The appraisal price per the Land Department is Baht 2.0 million. Which is correct?

a. XYZ is subject to SBT. The tax base is Baht 2.5 million.

b. XYZ is subject to SBT. The tax base is Baht 2.0 million.

c. Somying is subject to SBT. The tax base is Baht 2.5 million.

d. Somying is subject to SBT. The tax base is Baht 2.0 million.

16- Which scenario is subject to stamp duty in Thailand?

a. A hire of work agreement prepared and executed outside Thailand.

b. A hire of work agreement prepared and executed outside Thailand, and service was performed in Thailand. Subsequently, Mr. William bring such agreement into Thailand.

c. A hire of work agreement prepared and executed outside Thailand, and service was performed outside Thailand. Subsequently, Mr. Jason bring such agreement into Thailand.

d. Both (b) and (c) are subject to stamp duty when bringing agreement into Thailand.

17-Which place is normally regarded as 'place of business' under VAT law?

a. Manufacturing site

b. Warehouse

c. Sale office

d. All above are correct.

18-If all transfer pricing methods are made available, which method is recommended as it is properly reflected the arm's length principle?

a. Comparable Uncontrolled Price Method (CUP).

b. Resale Price Method (RPM).

c. Cost Plus Method (CPM).

d. Transactional Profit Split Method (TPSM).

19- Which document is not a three-tiered documentation?

a. Transfer pricing disclosure form (TP declaration form)

b. CbCR (Country by Country Reporting)

c. Master file

d. All above are correct.

20- Co. A (Lessor) and Co. B (Lessee) entered into the rental agreement. The contract is prepared and signed in Thailand. The rental period is started from 1 July 2020 to 30 June 2021. And, the total rent amount is Baht 2.4 million (equally to Baht 0.2 million per month). Which choice is correct?

a. This agreement is subject to stamp duty. Co.A needs to purchase stamp duty and then affix (and also cancelling) on the agreement.

b. The stamp duty is THB 2,400. But, Co.A is subject to stamp duty at THB1,200 in 2020 and another THB 1,200 in 2021.

c. Both (a) and (b) are wrong.

d. Both (a) and (b) are correct.

21-Which scenario is required to register SBT?

a. Mr. Somsak sells its own house.

b. Thai Company Limited sells its own plants which regular used in manufacturing business.

c. Thai Company Limited lends to its 3 associate companies in Thailand and 1 associate company in Malaysia.

d. All above are not required to register SBT.

22-Which scenario could represent that the Company may have transfer pricing risk?

a. Loss at gross profit level

b. Pay royalties/management fees

c. Significant related party transactions

d. All above are correct.

23- Which statement is True?

a. PA or Personal accident policy (product) issued by non-life insurance company is business subject to SBT.

b. SBT base of PA is insurance premium.

c. SBT rate for life insurance business is 3.3% (including local tax).

d. Both (a) and (b) are correct.

24- Company A (Co. A or Buyer) sent the purchase order to Company B (Co. B or Seller) on 25 May 2020. "Co.B accepted the order on 26 May 2020." "Goods are delivered to Co.A on 27 May 2020." "Co. A paid to Co. B on 1 June 2020." Given Co.B is the VAT operator, when Co.B is required to issue tax invoice?

a. 25 May 2020

b. 26 May 2020

c. 27 May 2020

d. 1 June 2020

25- Which document is a kind of tax invoice?

a. Receipt from the Revenue Department (PP36)

b. Import receipt from Custom Department

c. Debit/ Credit note

d. All above are correct.