Finance Ministry plans e-commerce tax next year

Finance Ministry plans e-commerce tax next year

Ekniti Nitithanprapas, director-general of the Revenue Department says a VAT on e-commerce is planned for next year. (Photo by Varuth Hirunyatheb)
Ekniti Nitithanprapas, director-general of the Revenue Department says a VAT on e-commerce is planned for next year. (Photo by Varuth Hirunyatheb)

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.



Do you like the content of this article?
COMMENT (2)

Here to stay

Gen Prayut Chan-o-cha says he will serve his full term as prime minister, ending speculation he may dissolve the House and call a fresh election before his term ends in 2023.

14 Jun 2021

Man with 39 wives dies in India

NEW DELHI: A 76-year-old man who had 39 wives and 94 children and was said to be the head of the world's largest family has died in northeast India, the chief minister of his home state said.

14 Jun 2021

Novavax vaccine more than 90% effective in US trial

Novavax Inc on Monday reported late-stage data from its US-based clinical trial showing its vaccine is more than 90% effective against Covid-19 across a variety of variants of the virus.

14 Jun 2021