The Revenue Department is requiring all employers to submit payroll tax returns via electronic channels to avoid counterfeit tax return forms, says director-general Vinit Visessuvanapoom.
Mr Vinit said prior to the department's notification on income tax No.438, it was done on a voluntary basis, but from Jan 1, 2024, all tax return forms for personal income tax withheld by employers (CIT 50 form) must be filed via the department's electronic system.
The agency aims to create a convenient method for individuals, in particular those with multiple sources of income, to check their income information through the "My Tax Account" system for filing personal income tax returns between Jan 1, 2024 and March 31, 2025.
He said the online tax filing should make it convenient for employers as there is no need to keep paper forms which incur storage costs, and --most importantly -- help to prevent fraud when requesting tax refunds and ensure accurate tax reporting by preventing overwithholding by employers.
The department aims to integrate all information related to personal income tax in the My Tax Account system to facilitate individual taxpayers checking the eligibility of their tax deductions.
However, some information still cannot be linked through the online system such as provident funds which employers deduct from employees' income and send to fund managers.
Last year, a total of 11.4 million tax return forms for personal income tax were submitted, with 96% via electronic channels and 4 million people filed for tax returns.
As of Feb 5, some 2.1 million forms were submitted, an increase from 1.7 million submitted during the corresponding period last year.