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.
This 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 a draft bill allowing the government to collect VAT from electronic services, as proposed by the Ministry of Finance.
With that move, Thailand has become the latest country in Southeast Asia to seek to boost tax revenue from international technology companies.
The bill requires non-resident companies or platforms that earn more than 1.8 million THB per year from providing digital services in the country to pay a 7 percent VAT on sales, deputy government spokeswoman Ratchada 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 affect services such as music and video streaming, gaming, and hotel booking./.
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