Hanoi (VNA) – Thailand’s Ministry of Finance has said the newly approved value-added tax (VAT) law on foreign e-commerce platforms in the country will rake in about 3 billion baht (97 million USD) revenue into the government's coffer.
The Ministry's Revenue Department said at a press briefing on June 11 that it expects global e-commerce and digital platforms, Facebook, Uber or Netflix, to agree to abide by Thailand's new tax bill when it becomes law after a vote in the Parliament.
Earlier, at the Cabinet meeting, ministers gave the green light to amending the Revenue Code to collect a value-added "E-Service" tax from foreign digital platforms that do not have a subsidiary company in Thailand.
According to the department’s director-general Ekniti Nitithanprapas the law could allow the department to collect taxes from all foreign services of those platforms, such as movie watching, video games downloading, or taxi booking.
Besides, the new law will empower the department to collect taxes from those businesses earning revenue from advertising on each platform.
The law will, mainly, order those foreign entrepreneurs providing the services in Thailand to register and disburse the VAT similar to Thai businesses./.
The Ministry's Revenue Department said at a press briefing on June 11 that it expects global e-commerce and digital platforms, Facebook, Uber or Netflix, to agree to abide by Thailand's new tax bill when it becomes law after a vote in the Parliament.
Earlier, at the Cabinet meeting, ministers gave the green light to amending the Revenue Code to collect a value-added "E-Service" tax from foreign digital platforms that do not have a subsidiary company in Thailand.
According to the department’s director-general Ekniti Nitithanprapas the law could allow the department to collect taxes from all foreign services of those platforms, such as movie watching, video games downloading, or taxi booking.
Besides, the new law will empower the department to collect taxes from those businesses earning revenue from advertising on each platform.
The law will, mainly, order those foreign entrepreneurs providing the services in Thailand to register and disburse the VAT similar to Thai businesses./.
VNA
