1. Which items are NOT the required contents/ particulars in the 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 the required contents/ particulars.

2. Thai Charoen Company Limited, a company incorporated in Thailand, engages Sumitomo Company Limited, a service provider which is a company incorporated in Japan, to help design the quality control system. Once Thai Charoen Company imported the work result, Thai Charoen subsequently paid the service fee to Sumitomo Company in Japan. Is this transaction subject to VAT?

A. Yes, and, this is subject to 7% VAT.

B. Yes, and, this is subject to 0% VAT.

C. No, because the service provider is not a Thai Company.

D. No, because the service is performed outside Thailand.

3. Which statement is False?

A. In general, life insurance is business subject to VAT.

B. In general, non - life insurance is business subject to SBT.

C. All of products issued by life insurance company are subject to SBT.

D. All of products issued by non-life insurance company are subject to VAT.

4. What is the VAT report which VAT operator is generally required to prepare or maintain?

A. Stock report

B. Output VAT report

C. Input VAT report

D. All above are correct.

5. Which statement is False?

A. SBT is regarded as non - deductible expense.

B. SBT base is a gross revenue receipt before deducting and expenses.

C. SBT operator is required to file SBT return within 15 days of the following month.

D. SBT operator can opt to apply 'cash basis' or 'accrual basis' for SBT computation.

6. Company A ('Co.A') sold machine to Company B ('Co.B') of Baht 100 million. Co. A is entitled to 10% special discount due to Co. A is a key client of Co.B. Given that both Co.A and Co.B are Thai Companies and registered as VAT operator, which of the following statement is True?

A. Co.A is required to issue tax invoice to Co.B. The VAT base is Baht 100 million.

B. Co.A is required to issue tax invoice to Co.B. The VAT base is Baht 90 million.

C. Co.B is required to issue tax invoice to Co.A. The VAT base is Baht 100 million.

D. Co.B is required to issue tax invoice to Co.A. The VAT base is Baht 90 million.

7. Company A ('Co.A') sold machine to Company B ('Co.B') of Baht 100 million. Co. A is entitled to 10% special discount due to Co. A is a key client of Co.B. (The same fact as previous question.) How much of the VAT amount?

A. Baht 90 million

B. Baht 7 million

C. Baht 6.3 million

D. Nil

8. Which statement is False?

A. Sale of securities on Thai stock exchange is a business subject to SBT.

B. Sale of securities on Thai stock exchange is now exempted from SBT.

C. Sale of securities outside Thai stock exchange is not under SBT scope.

D. All above are True statements.

9. Mr. Somchai is an employee of ABC (Thailand) Company Limited, a Thai Company. Mr. Somchai has annual salary of Baht 2.4 million. Is Mr. Somchai required to register as VAT operator?

a. Yes, because Somchai earns annual revenue exceeding than Baht 1.8 million.

b. No, because individual is certainly not subject to register as VAT operator.

c. No, because this is qualified as VAT exemption.

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

10. VAT base of which choice is different from others?

a. Export of products to Australia.

b. Sample of goods given under sale promotion.

c. Beverages given by employer to employee during working hours.

d. Cups and Umbrellas given to its customers during New year festival.

11. Given that Company A, B, C, D, and E are Thai Companies, which of these transactions is considered as 'Service' under VAT law?

A. Co. A provides subsidy to its Thai subsidiary.

B. Co. B is in the business of repair service and transportation business.

Co. B provides repair service to its own truck used in the transportation business.

C. Co. C acquires common shares of Co. D.

D. Co. E paid for the termination fee to Co. F as Co.E early terminate the lease contract.

12. The submission due date of which document is different from others?

A. Por Phor 30

B. Por Thor 40

C. Por Phor 36

D. All are the same submission deadline.

13. ABC Company Limited, a Thai company, is principally engaged in two businesses (1) Selling of home furniture e.g. table, bed, and (2) Selling of condominium. During the year, ABC incurred input VAT charged for electricity fee of the office for Baht 30,000. Which choice is correct about this input VAT?

a. ABC can claim Baht 30,000 in the VAT return.

b. ABC can treat Baht 30,000 as deductible expense.

c. If such electricity was directly used for both businesses, ABC should not claim the whole input VAT in the VAT return.

d. ABC can opt to do (a) or (b).

14. Company A (Co. A or Customer) entered into a service agreement with Company B (Co. B or Service provider) on 25 May 2020. Co. B had started to provide service since 26 May 2020 and the service was completely delivered to Co. A on 27 May 2020. Then, 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

15. TOA Paint (Thailand) Public Company Limited, which is a VAT operator, uses its own paint and coating products (i.e. VAT products) to color and coat its newly constructed plant. Which of the following statement is True?

A. This transaction is regarded as Sale per VAT law.

B. This transaction is not regarded as Sale per VAT law.

C. This transaction is not regarded as Sale per VAT law. But, TOA is required to issue tax invoice.

D. All above are False statements.

16. Which statement is False?

A. VAT is a kind of indirect tax under the Revenue Code.

B. VAT operator can claim input VAT in the VAT return if the tax invoice contains incorrect required information.

C. Business subject to SBT will not be subject to VAT again.

D. All above are True.

17- Input VAT is the cost of business operation. Is this statement True or False?

a. True, if such VAT belongs to VAT operator.

b. False, if such VAT belongs to VAT operator.

c. True, if such VAT belongs to non-VAT operator.

d. Both (b) and (c).

18- Which scenario of Company A Limited ('Co.A') is definitely subject to SBT?

a. Co. A lends to its subsidiary company for only one time, but further extend term to three years.

b. Co. A lends to its 2 associate companies in Thailand and 1 associate company in Malaysia.

c. Co. A lends to its subsidiary company for only one time.

d. Co. A lends to its own employees.