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