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Thailand plans to levy tax on e-commerce transactions

Thailand will levy tax on cross-border e-commerce transactions, beginning in April, following the fast growth of e-commerce in the country recently.
Thailand plans to levy tax on e-commerce transactions ảnh 1Prasong Poontaneat, Director-General of the Thai Revenue Department (Photo: Bangkok Post)
 

Bangkok (VNA) – Thailand will levy tax oncross-border e-commerce transactions, beginning in April, following the fastgrowth of e-commerce in the country recently. 

Prasong Poontaneat, Director-General of the Thai RevenueDepartment, said on March 7 that imposing turnover tax on digital marketing andadvertising will the next target of the department.

The department is working with the Electronic TransactionsDevelopment Agency (ETDA) to impose specific taxes on domestic and foreign e-commercebusinesses. 

ETDA Director Surangkana Wayuparb affirmed that the agencyplans to cooperate with the department to change tax rates on cross-bordere-commerce transactions. 

Existing laws only permit to impose taxes on companieslocated in Thailand while foreign e-commerce operators are not levied any tax.

Thailand’s e-commerce market was estimated at 2.5trillion THB 71.3 billion USD) in 2016, up from 2.2 trillion 62.7billion USD) in 2015.

Statistics released by ETDA show that there are about300,000 companies operating in e-commerce in Thailand. However, only 2,000companies registered with the tax system of the

Revenue Department, whichcontributed just 300 million baht (8.6 billion USD) in total revenue. 

Thailand’s Revenue Department plans to spend 2.3 billion THB (66.6 million USD) to install computers for e-tax services with an aim to boostrevenues from value added tax (VAT) to at least 100 billion THB (2.8 billionUSD) by 2022.-VNA

VNA
#tax#e-commerce transaction
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