Hanoi (VNA) – Around 20 large overseas online platform operators plan to register as value-added tax (VAT) payers in Thailand, according to Ekniti Nitithanprapas, director-general of the Revenue Department of Thailand.
The move comes in response to enforcement of the e-service tax law from September 1, when overseas businesses providing online services in Thailand will be required to register for 7 percent VAT liability if their annual income exceeds 1.8 million baht, or about 55,000 USD, the Bangkok Post reported.
E-service businesses liable for VAT payments include those offering download services for movies, games, stickers, brokerage services and advertisements.
The department already developed an online channel for operators to easily register for VAT and make payments, the paper quoted Ekniti as saying.
The department expects tax revenue collection from the upcoming e-service levy to total more than 5 billion baht per year as the COVID-19 pandemic has moved traffic to online platforms, he said.
Around 60 countries have adopted this e-service tax.
The introduction of the e-service tax law is part of the country’s ongoing tax reform to improve revenue and ensure fair treatment for all./.
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