Investment

Thailand: approval of VAT bill for foreign Internet service providers

As the latest country to introduce value-added tax, Thailand approved a draft bill requiring foreign Internet service providers to pay value-added tax on June 9, 2020. Thailand’s parliament still has to vote on the bill, which requires a 7% sales value-added tax if non domestic companies or platforms provide more than 1.8 million baht (US $57434.59) of Internet services in Thailand every year. It is reported that Thailand is expected to increase its revenue from this new tax by about 3 billion baht (US $95.72 million) per year.

Continue Reading...