The gazette website has published Revenue Code Amendment Act (No. 53), 2024, which is the collection of value-added tax from foreign service providers who have income in Thailand, such as Facebook, Google, Netflix, Spotify, etc.
The Act will come into effect six months after its publication in the gazette.
The director-general of the Revenue Department, Ekniti Nitithanprapas, said that after the law was published in the Government Gazette, there would be another 180 days before it would take effect.
The department expects about Bt5 billion in revenue in the last quarter of fiscal year 2021.
"The department is in talks with entrepreneurs to simplify their tax payment system," said Ekniti. Increased use of online platforms abroad has significantly increased the revenue estimate from the previously projected Bt3 billion, he said.
Collection of VAT from a digital platforms abroad is a matter of concern to tax authorities around the world since they want to create fairness for entrepreneurs in the country who have to pay tax. There are laws in more than 60 countries, such as the US, the United Kingdom, Malaysia, Indonesia, South Korea, Japan, Australia and others, he said.
Published : February 12, 2021
By : The Nation