WORLD Thailand to impose tax on online business operators in fiscal 2021

WORLD

Thailand to impose tax on online business operators in fiscal 2021

Xinhua

19:37, December 20, 2019

BANGKOK, Dec. 20 (Xinhua) -- Thai Ministry of Finance on Friday announced that its revenue department is looking into imposing e-business tax in fiscal 2021 to an estimated 170,000 online business operators.

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(File photo: VCG)

"The e-Business tax was aimed at taxing e-business operators who were based outside Thailand but ran their businesses in Thailand," said Ekniti Nitithanprapas, director-general of the revenue department under the ministry of finance.

Ekniti said the e-business tax bill is waiting to be scrutinized by the council of state and then submitted to the parliament before it becomes law.

"Therefore the law may be promulgated in September 2020 and the taxation imposition will start in fiscal 2021" said Ekniti, "About 4 billion baht (132,538,120 U.S. dollars) worth of the e-business tax should be collected in the first year," he said.

The revenue department chief also warned that more than 100,000 online vendors who operate business via Facebook better quickly have their online business registered with the department or face financial penalty.

We have already set up a division to track down these online business operators and know who they are, said Ekniti. 

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