Finance Ministry plans e-commerce tax next year
published : 26 Aug 2019 at 20:59
The Finance Ministry expects to introduce a value-added-tax on electronic businesses next year, aiming to collect between 3 billion to 4 billion baht a year, a ministry official said on Monday, tapping a boom in e-commerce in the country.
The tax is expected to seek parliamentary approval this year, Ekniti Nitithanprapas, director-general of the Revenue Department, told reporters, without elaborating.
E-commerce is surging in Thailand where entrepreneurs sell products directly to customers via Facebook, Instagram and messaging apps like Japan's Line Corp.
Driven by upgrades to mobile banking apps, sales via social media in Thailand more than doubled to 334.2 billion baht in 2017, according to the latest report from the country's Electronic Transaction Development Agency.
Mr Ekniti said the government is targeting overall tax revenue of 2 trillion baht in the current fiscal year to Sept 30, and rising to 2.116 trillion baht in the next fiscal year.