Around 20 large overseas online platform operators plan to register as value-added tax (VAT) payers in Thailand, according to Ekniti Nitithanprapas, director-general of the Revenue Department of Thailand.
Ekniti Nitithanprapas, director-general of the Revenue Department of Thailand, says most foreign online businesses are cooperating with the law. (Photo: Bangkok Post)
Hanoi (VNA) – Around 20 large overseas onlineplatform operators plan to register as value-added tax (VAT) payers inThailand, according to Ekniti Nitithanprapas, director-general of the RevenueDepartment of Thailand.
The move comes in response to enforcement of thee-service tax law from September 1, when overseas businesses providing onlineservices in Thailand will be required to register for 7 percent VAT liabilityif their annual income exceeds 1.8 million baht, or about 55,000 USD, theBangkok Post reported.
E-service businesses liable for VAT payments includethose offering download services for movies, games, stickers, brokerageservices and advertisements.
The department already developed an online channel foroperators to easily register for VAT and make payments, the paper quoted Eknitias saying.
The department expects tax revenue collection from theupcoming e-service levy to total more than 5 billion baht per year as the COVID-19pandemic has moved traffic to online platforms, he said.
Around 60 countries have adopted this e-service tax.
The introduction of the e-service tax law is part of thecountry's ongoing tax reform to improve revenue and ensure fair treatment for all./.
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Ekniti Nitithanprapas, director-general of the Revenue Department of Thailand, says most foreign online businesses are cooperating with the law. (Photo: Bangkok Post)
