The Revenue Department estimates its annual tax revenue growth will triple to 15% after the e-business tax, a levy on any online transaction that takes place in Thailand regardless of the e-commerce operator's location, comes into force.
Mr Prasong is upbeat about the tax revenue target of 1.93 trillion baht.
The department's tax revenue has increased 5% or 100 billion baht a year on average, but the growth pace will be 15% or 300 billion once the e-business tax is enforced, said Prasong Poontaneat, the department's director-general.
The department will conduct a second hearing of the draft e-business tax this month to measure public opinion before proposing it for cabinet approval.
The draft bill requires online vendors who use a domain name in Thailand and have a payment system in baht, or transfer money from here, to pay the tax.
Electronic media operators who earn income from advertising and website rental will be responsible for withholding tax and remitting it to the Revenue Department.
The draft bill for the e-business tax has set a ceiling rate of 15%, but the applicable rates will vary depending on the nature of the business.
Full story: https://www.bangkokpost.com/business/ne ... ll-coffers
Does this mean that everything you buy online in Thailand (Lazada etc), will go up by 15% ?
E-business tax targeted to fill govt coffers
E-business tax targeted to fill govt coffers
Who is the happier man, he who has braved the storm of life and lived or he who has stayed securely on shore and merely existed? - Hunter S Thompson
Re: E-business tax targeted to fill govt coffers
We are already paying 7% vat..........
- StevePIraq
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Re: E-business tax targeted to fill govt coffers
Not on everything, if you buy from Lazada or e-bay etc there is no tax, plus you don't pay VAT on many casual purchases here such as markets including in a bar as they do not do tax returns or tax payments.
"Live everyday as if it were your last because someday you're going to be right." Muhammad Ali
Re: E-business tax targeted to fill govt coffers
Well, if their "data analytics system" works in the same way as most Goverment IT systems I would not worry too much about it!To facilitate the e-tax system, the department will need to invest 2.3 billion baht to install a big data analytics system.
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Re: E-business tax targeted to fill govt coffers
Isn't that exactly what they're trying to implement - a tax on online purchases?StevePIraq wrote: ↑Mon Jan 08, 2018 1:22 pm Not on everything, if you buy from Lazada or e-bay etc there is no tax,
Who is the happier man, he who has braved the storm of life and lived or he who has stayed securely on shore and merely existed? - Hunter S Thompson
Re: RE: E-business tax targeted to fill govt coffers
So, if I want to buy something from Tesco online it will be 15% more expensive than if I go into a store and buy? Hurray for Thailand 4.0! I think there could be a bit of feedback coming the "government's" way.buksida wrote:The Revenue Department estimates its annual tax revenue growth will triple to 15% after the e-business tax, a levy on any online transaction that takes place in Thailand regardless of the e-commerce operator's location, comes into force.
Mr Prasong is upbeat about the tax revenue target of 1.93 trillion baht.
The department's tax revenue has increased 5% or 100 billion baht a year on average, but the growth pace will be 15% or 300 billion once the e-business tax is enforced, said Prasong Poontaneat, the department's director-general.
The department will conduct a second hearing of the draft e-business tax this month to measure public opinion before proposing it for cabinet approval.
The draft bill requires online vendors who use a domain name in Thailand and have a payment system in baht, or transfer money from here, to pay the tax.
Electronic media operators who earn income from advertising and website rental will be responsible for withholding tax and remitting it to the Revenue Department.
The draft bill for the e-business tax has set a ceiling rate of 15%, but the applicable rates will vary depending on the nature of the business.
Full story: https://www.bangkokpost.com/business/ne ... ll-coffers
Does this mean that everything you buy online in Thailand (Lazada etc), will go up by 15% ?
Also:
"The Revenue Department estimates its annual tax revenue growth will triple to 15% after the e-business tax, a levy on any online transaction that takes place in Thailand regardless of the e-commerce operator's location, comes into force." Regardless of location, it says, but...
" The draft bill requires online vendors who use a domain name in Thailand and have a payment system in baht, or transfer money from here, to pay the tax." So this implies not regardless of location, and adds other conditions.
Seems like foreign traders will be excluded. Will customs start assessing every incoming packet?
- StevePIraq
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Re: E-business tax targeted to fill govt coffers
My point was referring to RobCars post stating we already pay 7% VATbuksida wrote: ↑Mon Jan 08, 2018 1:43 pmIsn't that exactly what they're trying to implement - a tax on online purchases?StevePIraq wrote: ↑Mon Jan 08, 2018 1:22 pm Not on everything, if you buy from Lazada or e-bay etc there is no tax,
"Live everyday as if it were your last because someday you're going to be right." Muhammad Ali