Thailand’s e-commerce industry is set for a shake-up following a recent decision by the Revenue Department to mandate digital platforms to report income earned from their online sellers.
Analysts predict that this may result in a 10% reduction in the number of online shops on platforms, as some merchants may resist revealing their true earnings.
The move is aimed at providing the department with a clearer picture of tax payments from merchants, thus facilitating fair competition among local and international sellers.
On December 27, the department decreed that electronic platforms based in Thailand with revenues exceeding 1 billion baht (US$28 million) in an accounting cycle must establish an electronic special account.
This measure will be enforced from January 1 onwards. The special account will disclose the revenue garnered by…
