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Thursday, March 28, 2024

E-service tax law comes into force

An image combines the logos of Amazon, Apple, Facebook and Google. REUTERS

Thailand will enforce the e-service tax law from Wednesday, following in the footsteps of more than 60 countries around the globe which collect value-added tax (VAT) from foreign e-service operators reaping income in their territories.

These countries, including Australia, New Zealand, Japan, Taiwan and South Korea, comply with guidelines ushered in by the Organisation for Economic Co-operation and Development (OECD) to enhance VAT collection for cross border services.

In Thailand, the Revenue Code Amendment Act, which paves the way for the collection of VAT from foreign e-service providers, was published in the Royal Gazette on Feb 10 and is due to come into force on Wednesday.

This law stipulates that foreign electronic service…

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