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Thai Cabinet approves e-business tax draft law

Thailand’s Cabinet on June 9 approved a draft bill allowing the government to collect VAT from electronic services, as proposed by the Ministry of Finance.
Thai Cabinet approves e-business tax draft law ảnh 1This file combination of pictures created on July 10, 2019 shows the logos of Big Tech. (Photo: AFP)

Bangkok (VNA) – Thailand’s Cabinet on June 9 approved adraft bill allowing the government to collect VAT from electronic services, asproposed by the Ministry of Finance.

With that move, Thailand has become the latestcountry in Southeast Asia to seek to boost tax revenue from internationaltechnology companies.

The bill requires non-resident companies orplatforms that earn more than 1.8 million THB per year from providing digital servicesin the country to pay a 7 percent VAT on sales, deputy government spokeswomanRatchada Thanadirek was quoted by the Bangkok Post newspaper as saying.

Thailand is expected to add about 3 billion THB(95.6 million USD) to its coffers annually from the move, which will affectservices such as music and video streaming, gaming, and hotel booking./.
VNA
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