The Thai Revenue Department has mandated online platforms to submit income data of online traders into the system, starting from the accounting period of January 1 in the upcoming year. The conditions were announced on today. Kulaya Tantitemit, the Director-General of the Revenue Department, announced on December 27, about income tax concerning the regulation for electronic platforms to prepare special accounts for submitting income information of entrepreneurs to the Revenue Department. This will be applicable to data for accounting periods from January 1, 2024, onwards, reports Khaosod.
As per the conditions, electronic platforms registered in Thailand, and those that have or have had an income exceeding 1 billion baht (US$29 million) in an accounting period, must prepare special accounts. These accounts should display…
