AEC tax info pool mulled

The Finance Ministry says tax databases across Asean could be integrated following the launch of the Asean Economic Community in 2016 to help facilitate trade and investment across the region.

Pongpanu Svetarundra, deputy finance permanent secretary, said tax systems would also be integrated for the Revenue, Excise and Customs departments to simplify tax payments and help businesses in tax planning.

The Revenue Department is responsible for collecting corporate, personal income and value-added taxes, the Excise Department excise taxes and the Customs Department import and export tariffs.

Mr Pongpanu said a tax system integrated regionwide would have tremendous benefits for businesses by easing the task of identifying which goods and services are subject to which tax in a particular jurisdiction, how payment is to be made and what supporting documentation is required.

He said tax reforms also plan to link taxpayer information with state-owned financial institutions such as the Small and Medium Enterprise Development Bank of Thailand.

"Good taxpayers are potentially good credit customers," Mr Pongpanu said, adding that the Finance Ministry also plans to study incentive systems used by other countries in the region to encourage companies and individuals to pay their taxes properly and promptly.

This Thursday, 268 agencies under the three main government tax departments will hold a tax clinic for companies and investors. For details, please visit Taxclinic.mof.go.th.

About the author

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Writer: Wichit Chantanusornsiri
Position: Business Reporter