In the era of a borderless economy, many businesses in Thailand operate internationally, with customer bases and partners in several regions. This has become today’s standard: issuing e-invoices in foreign currencies is considered one of the tools that promote global expansion. It helps make operational processes more organized and transparent, enabling traceability and convenience for partners and customers worldwide.

In this article, we will learn about e-invoices (electronic invoices), their implementation, the importance of these tools for modern enterprises, the Thai legal requirements for their use, the steps for creating them, and examples of them denominated in other monetary units. We will also introduce a solution that supports issuing e-invoices in various currencies globally, helping financial and accounting systems to grow smoothly, expand markets confidently, and elevate organizational operations to an international level.

What’s in this article?

• What is an e-invoice?
  
• The importance of e-invoice for modern businesses
  
• Thai legal requirements for using an e-invoice
  
• Procedure for issuing e-invoices in foreign currencies
  
• Example of e-invoices in foreign currencies
  
• How Stripe Invoicing can help
  

What is an e-invoice?

An e-invoice is prepared, sent, received, and stored digitally rather than on paper. Its primary function is to collect funds for goods or services from buyers. Businesses can issue documents in Thai baht or a foreign currency, depending on what best fits their needs. Preparing an e-invoice in another currency requires an application and approval from the Director-General of The Revenue Department beforehand.

The importance of e-invoice for modern businesses

The implementation of e-invoices in Thailand is a significant step for businesses. It facilitates transactions among partners and customers, while enhancing transparency and efficiency in finance and accounting. An e-invoice is beneficial and important for contemporary enterprises, as explained below:

• Reduce costs and time: Issuing invoices becomes more convenient and faster, cuts down on paperwork and spending in the printing and delivery process, and allows information to be stored digitally.
  
• Promote a positive image: Less reliance on paper and document transportation not only lowers costs, but also supports a forward-looking image for the organization that is conscious of sustainability and environmentally friendly.
  
• Cash flow: Invoices that can be sent automatically and monitored in real-time allow for accurate tracking of payments, reducing days sales outstanding (DSO), accelerating the billing cycle, and improving liquidity, which in turn results in better cash flow.
  
• Up-to-date data: Executives can view outstanding receivables, debt aging, and collection trends in real time, helping to manage credit risk, forecast future cash flow clearly, and access to current figures to analyze revenue, expenditures, and value-added tax (VAT) transparently and accurately.
  
• Transparent and verifiable: An existing workflow with an audit trail supports retrospective review. Use both electronic signature (e-signature) and timestamp features to verify the accuracy of the information and the seller’s identity.
  
• Improved partner experience: A more advanced billing experience lets suppliers and customers track status instantly through the system—for example, sent, approved, pending approval, or payment scheduled—and download tax invoices, receipts, or VAT reports independently.
  
• Automated process: Digital invoicing helps operations run faster, supporting increased transaction volumes without the need to add more staff. Automated processes make it easier to work alongside business partners and marketplaces both domestically and internationally.
  
• Reduce errors: The platform can run verification on key data. Having information in digital formats from the start ensures higher accuracy, limits missing info or incorrect approvals, minimizes errors from incorrect data entry, and prevents delays caused by lost documents.
  
• Compliance with laws: Adhere to the electronic system outlined by The Revenue Department for e-Tax Invoice & e-Receipt and maintain a document storage system in line with the Thailand 4.0 policy criteria to facilitate the transition to a digital economy.
  

Thai legal requirements for using an e-invoice

The Revenue Department has developed the e-Tax Invoice & e-Receipt system to provide convenience, enhance security, and reduce the steps involved in document preparation. This serves as an added option to the paper format under the Electronic Transactions Act B.E. of 2001. Businesses that issue e-invoices have to comply with the following legal requirements:

Ministerial Regulation No. 384

Ministerial Regulation No. 384 (B.E. 2022) established criteria for the creation, submission, or secure storage of electronic tax documents, including e-signatures, digital certificates, and timestamps.

Apply for issuing an e-invoice in a foreign currency

Under the Director-General’s Announcement regarding Section 7 of VAT Act No. 92, preparing a fiscal or e-Tax invoice in another currency (or in a foreign language), must receive prior approval from the Director-General of The Revenue Department.

Sections 86/4 and 86/6

Sections 86/4 and 86/6 set out the information a tax invoice must include, such as the words “Tax Invoice”; the issuer’s name, address, and taxpayer identification number (TIN); the fiscal document or digital receipt; the purchaser’s name; the invoice number; details of the goods or services; the amount; VAT; the date of issue; etc.

Use a secure and reliable system

The system needs to maintain usage logs and an audit trail, and verify the accuracy and integrity of file data. Access to information must be controlled with passwords or encryption, ensuring the business can review records retrospectively in the event of disputes.

Data format standard

The document has to be in Extensible Markup Language (XML) format, aligned with ETDA standards, and include an e-signature, as used by The Revenue Department for the e-Tax Invoice & e-Receipt system.

Standards for electronic data storage

Documents have to be stored in the system for at least five years (in some cases up to seven years). They must be accessible and display the content of the documents as in the original, including storing metadata such as name, size, type, or creation date of each file.

Personal data protection law

Since e-invoices contain identifiable information such as names, addresses, email, and phone numbers, it is necessary to consider the collection, use, and disclosure of this information in accordance with personal data protection laws.

Procedure for issuing e-invoices in foreign currencies

Businesses in Thailand can issue e-invoices in foreign currencies by following the procedures below:

• Specify requirements: Define goals for e-invoice adoption, including participating countries and money types, applicable taxes, and necessary export documents. In parallel, evaluate the current billing process to pinpoint delays, inaccuracies, or inefficiencies, and determine the needs and solutions required to address those gaps.

• Apply to the e-Tax system (Form Bor.Or.01): If your company has not yet completed registration in The Revenue Department’s e-Tax system, you can register for e-invoice use by submitting Form Bor.Or.01 through the online service. Prepare an electronic certificate from a provider under Thailand NRCA and install the Ultimate Sign & Viewer program (skip this step if you are already able to issue e-invoices).

• Requesting approval for e-invoice in a foreign currency: Issuing an e-invoice in a foreign currency must be approved in advance by the Director-General of The Revenue Department, per Section 7 of VAT Act No. 92:

  • Go to the website of The Revenue Department
    
  • Select the “Submit Approval Request” menu to access the e-Tax Invoice submission service
    
  • Enter the 13-digit TIN of the business
    
  • Follow the on-screen steps to submit a request for approval for a foreign monetary unit
    

A written petition can be submitted to the Director-General through a local Revenue Department office (for those in Bangkok) or the provincial/branch office, along with reasons and supporting evidence as appropriate for the entity.

• Choose an e-invoice solution: Select a solution that can record file data in XML structured format aligned with the ETDA, offering a variety of currency options. It needs to feature e-signatures and audit trails, along with application programming interfaces (APIs) that integrate with accounting software and inventory platforms easily.
  
• Issue an e-invoice: Create an XML file in line with ETDA standards, select the currency, specify the exchange rate, and check and fill in all required information, such as name, email, and the value of goods and services according to Order Po.71/2541. Alternatively, use Stripe Invoicing to issue e-invoices automatically, reducing errors and eliminating the need for manual data entry or processing. Apply an e-signature and use an electronic certificate for authentication.
  

• Export an e-invoice and submit data to The Revenue Department: Export PDF/A-3/XML files to customers/partners and submit XML files to the e-Tax Invoice & e-Receipt platform through the chosen channel (web/service provider, or upload via The Revenue Department’s system). When using e-Tax Invoice by Time Stamp, please send it to recipients from the registered email address and CC csemail@etax.teda.th.

• Store and back up data: Store XML/PDF files in the system for the defined period (at least five years) and periodically test data recovery. Always keep evidence of document delivery/acceptance from partners, including verification results.

Other practices for issuing e-invoices in foreign currencies

Issuing an e-invoice in a foreign currency often involves additional details that require attention, including fiscal, legal, and accounting matters.

• Set the exchange rate source: Clearly identify the source of the exchange rate, whether it uses data from the Bank of Thailand or any financial institution. Indicate the exact time that rate takes effect to reduce the risk of exchange rate fluctuations.
  
• Use the correct code and format: Follow currency codes in line with the ISO 4217 standard (e.g., USD, EUR, JPY), and apply country codes, date-time formats, symbols, or decimal points consistently to avoid confusion when reading amounts across documents, purchase orders, and accounting platforms.
  
• Use a system that supports multiple currencies: Choose a solution that can handle a wide range of monetary units worldwide and automatically update exchange rates, such as Stripe Invoicing, which supports issuing e-invoices in more than 135 currencies globally, along with tools for rate conversion and automatic payment collection.
  
• Check cross-border taxes or fees: Examine the laws and regulations for issuing e-invoices in the seller’s/buyer’s country to see if there are any cross-border taxes or fees, or if it is possible to implement a solution from a provider with a global network of legal experts, such as Stripe.
  
• Convert amounts to baht for accounting purposes: Currency conversion covers sales, unit price, or VAT in baht, using the same rate stated in the document. Manage foreign exchange differences in the profit/loss account and check for consistency with financial statements and periodic fiscal reports.
  
• Indicate payment terms: Although specifying payment terms is not legally mandated, it is good practice for business clarity and consistency to indicate remittance details such as the payment method, currency, receiving bank, bank fees, late interest, responsible party, withholding tax, or double taxation (if any).
  

Example of an e-invoice in a foreign currency

An e-invoice issued in foreign currencies must include the following information:

• E-invoice number

• Date of sale

• Due date

• Seller

• Reference number

• Currency

• Exchange rate

• Company name, address, and phone number

• TIN

• Customer name and phone number

• Email

• Products/services

• Quantity sold

• Unit price

• Discount (if any)

• Tax and tax base

• Total amount

Additionally, use e-signatures or timestamps that allow retrospective verification.

So kann Stripe Invoicing helfen

Mit Stripe Invoicing lässt sich Debitorenbuchhaltung vereinfachen – von der Erstellung der Rechnung bis zum Einzug der Zahlungen. Ganz gleich, ob Sie einmalige oder wiederkehrende Abrechnungen verwalten, Stripe hilft Unternehmen dabei, Zahlungen schneller zu akzeptieren und Abläufe zu optimieren:

• Debitorenbuchhaltung automatisieren: Sie können professionelle Rechnungen im Handumdrehen erstellen, anpassen und senden – ganz ohne Code. Stripe verfolgt automatisch den Rechnungsstatus, sendet Zahlungserinnerungen und verarbeitet Rückerstattungen, sodass Sie Ihren Cashflow im Griff behalten.
  
• Cashflow beschleunigen: Verringern Sie die Forderungslaufzeit (Days Sales Outstanding, DSO) und akzeptieren Sie Zahlungen schneller mit integrierten globalen Zahlungen, automatischen Erinnerungen und KI-gestützten Dunning-Tools, die Ihnen helfen, mehr Umsatz zu erzielen.
  
• Nutzungsfreundlichkeit erhöhen: Bieten Sie Kundinnen und Kunden eine bequeme Zahlungsmöglichkeit mit Unterstützung für über 25 Sprachen, 135 Währungen und 100 Zahlungsmethoden. Die Nutzer/innen können Rechnungen über ein Self-Service-Kundenportal ganz leicht aufrufen und bezahlen.
  
• Aufwand im Backoffice reduzieren: Erstellen Sie Rechnungen innerhalb weniger Minuten und verringern Sie den Zeitaufwand für den Einzug von Zahlungen durch automatische Erinnerungen und eine von Stripe gehostete Rechnungszahlungsseite.
  
• In Ihre bestehenden Systeme integrieren: Stripe Invoicing lässt sich in beliebte Buchhaltungs- und Enterprise-Resource-Planning-Software (ERP-Software) integrieren, sodass Sie Systeme synchron halten und manuelle Dateneingaben reduzieren können.
  

Erfahren Sie mehr darüber, wie Stripe Ihre Debitorenbuchhaltung vereinfachen kann, oder starten Sie noch heute.