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Thailand To Tax International Tech Companies

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Thailand To Tax International Tech Companies | Samui Times
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Thailand has joined other southeastern Asian countries in moving towards taxing foreign international tech companies.

The move was officially put forth via a draft bill yesterday which would require foreign digital service providers to pay a value-added tax or VAT.

The bill would require non-resident companies or platforms that earn more than 1.8 million baht ($57,434.59) per year from providing digital services in the country to pay a 7% VAT on sales.

Those services such as music and video streaming, gaming, and hotel booking would be the ones most likely affected.

“The move would add about 3 billion THB or $95.72 million annually to Thailand’s economy,” said deputy government spokeswoman Ratchada Thanadirek.

Ratchada said is it unfair that these companies currently aren’t having to pay VAT as their Thai counterparts are required to do so already.

Thanawat Malabuppha, president of the Thai e-Commerce Association, furthered the need to level the playing field and said, “Anyone who makes money from Thai people should pay taxes to the country.”

 

SOURCE: Reuters

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