Thailand approves VAT for foreign digital platforms | Inquirer Business

Thailand approves VAT for foreign digital platforms

/ 12:13 PM June 10, 2020

BANGKOK — The Cabinet has approved a draft bill that will levy VAT on international digital platforms, expecting the measure to net additional annual revenue of Bt3 billion ($96 million).

A Cabinet meeting on Tuesday (June 9) gave the green light to amend the Revenue Code to collect a value-added “E-Service” tax from foreign digital platforms that do not have a subsidiary company in Thailand. The draft was proposed by the Finance Ministry to collect revenue from overseas internet-based service providers in Thailand.

The spokesman said the new tax will not affect consumers. It will be levied on websites, applications, movies, music, games, and hotel reservations from international platforms that currently pay no VAT.

Your subscription could not be saved. Please try again.
Your subscription has been successful.

Subscribe to our daily newsletter

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.

TAGS: Business, Digital Platforms, Internet, legislation, taxes, technology, Thailand, VAT

© Copyright 1997-2024 | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.