New tax law prompts suspicions of snooping

[buksida]

Big Brother now looking into your bank accounts ...

The National Legislative Assembly (NLA) has passed a bill meant to ensure more effective tax collection, especially from e-commerce businesses.

Under the bill proposed to the NLA meeting Tuesday, financial institutions will be required to report transactions of customer accounts which receive either more than 3,000 deposits and money transfers a year or more than 200 deposits and money transfers with a total value of at least 2 million baht a year to the Revenue Department. The bill amends the Revenue Code.

From now on, if you do this 'too often', the banks will report you and the government will investigate.


Source: https://www.bangkokpost.com/news/securi ... f-snooping

[PeteC]

The legislation was amended changing 200 deposits to 400 deposits....

[laphanphon]

That kind of makes sense, and if having that many deposits, surely a business, and should be paying taxes, if applicable.

That's a lot of deposits, even at 200 a year.

[RCer]

Great idea and about time. Can't join the rest of the world with crooked operators being the normal standard here.

[laphanphon]

Someone has to pay for those mega-projects.......or they'll be putting the VAT back to 10 %....