30.9 C
Monday, March 20, 2023

Most Foreign Online Businesses Plan to Register for VAT in Thailand

Thailand’s Revenue Department has revealed that about 20 large overseas online platform operators plan to register for VAT in Thailand.

Revenue Department Director-General Ekniti Nitithanprapas said the department has already developed an online channel for operators to register for VAT and make payments easily. E-service businesses liable to VAT include those offering download services for movies, games, stickers, brokerage services and advertisements.

He said most foreign online businesses are cooperating with the e-service law, effective from September 1st, when overseas businesses providing online services in Thailand will be required to register for VAT if their annual income from Thailand exceeds 1.8 million baht.

Mr. Ekniti added that the department expects tax collection from the upcoming e-service levy to total more than 5 billion baht per year, as the pandemic has moved commerce to online platforms. Under the law, operators estimate how much tax they should pay, while the department uses a post-audit process to examine their VAT payments, by seeking international cooperation among countries on their tax payment records.

Related Articles


Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.


- Advertisement -


- Advertisement -