The changes will require foreign companies that make transactions in Thailand to pay taxes
Photo by Calita Kabir
Bangkok Post reports Thailand is looking to amend its tax laws to allow taxation of overseas companies that make business transactions in Thailand.
Under the existing law, the government can only tax companies that are located in Thailand. This law does not cover e-commerce companies for cross border transactions.
Director General of The Customs Department, Prasong Poontaneat, was quoted as saying, “We don’t want to ruin the e-commerce system, but we would like to provide grounds for fair taxation”.
According to Bangkok Post, some of the online operators that will be taxed should the law be amended are Agoda, Apply Pay, Ali Pay, V Chat Pay, financial technology (fintech) firms, and bitcoin payments.
Read more here
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