Thailand Implements Mandatory Reporting of Business Operator Income on Electronic Platforms

Since January 1, 2024, Thailand’s Revenue Department has required electronic platforms such as e-commerce and e-marketplaces to disclose their revenue from the business operators on their platforms.

The Revenue Department hopes that it can facilitate more accurate and efficient tax collection and thus develop fair competition between local and international sellers.

Under the notification, electronic platforms must open a special account containing data on the revenues received from each business operator and submit the data through the Revenue Department’s electronic reporting system within 150 days of the fiscal year.

Further, only electronic operators registered in Thailand with annual revenue exceeding 1 billion baht (US$28 million) must submit the report. Electronic operators under the supervision of the Bank of Thailand or the Office…