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E-service VAT on foreign operators comes into effect

E-service VAT on foreign operators comes into effect

BANGKOK: Thailand’s Finance Ministry has introduced an e-service tax that levies value-added tax (VAT) on foreign e-service operators.

technologyeconomics
By National News Bureau of Thailand

Thursday 2 September 2021, 11:34AM


Image: NNT

Image: NNT

The new e-services tax, a VAT of 7%, came into effect yesterday (Sept 1).

According to the Finance Ministry, e-services subject to the new tax include e-commerce platforms, online advertising, online accommodation booking, online music and film streaming, online games and applications, reports state news agency NNT.

The 7% VAT will apply to businesses that earn more than B1.8 million in online sales annually, the report noted.

Finance Minister Arkhom Termpittayapaisith said the tax will create a level playing field between Thai operators and foreign e-service firms providing services in Thailand, as the latter is now obliged to pay VAT in line with the law.

He said some 50 foreign e-service operators have registered through a simplified VAT system for e-service (SVE), which enables them to register for VAT, file VAT returns and pay VAT electronically.

The move is also expected to bring in B5 billion from foreign e-service providers through VAT collection in the 2022 fiscal year.

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