Taxation

Thailand will tighten loopholes in its tax rules on overseas income, as the new government seeks to lower income inequality as well as raise revenue to pay for measures to stimulate the Southeast Asian economy.The finance ministry last week issued the stricter rule on overseas ...

The Revenue Department of Thailand has reported the successful collection of over 5.01 billion baht in tax revenue from foreign platforms and e-service providers. This reflects a growth of 3.2% compared to last year.The revenue was amassed over the first nine months of the current ...

The Finance Ministry has set four targets for tax reform, aiming to boost revenue to cover expenses and deal with future economic uncertainties, says Fiscal Policy Office director-general Pornchai Thiraveja. First, tax reform should ramp up the country’s competitiveness and ensure sustainable economic growth.The ministry will ...

The Revenue Department plans to step up its examination of suspicious personal income tax returns, says director-general Lavaron Sangsnit. He said people who submit accurate filings have nothing to worry about, and eligible filers should receive a tax refund within three days.Keep reading ...

After more than 30 years of exemption, the Thai Cabinet on Tuesday approved levying a financial transaction tax for trades in the Stock Exchange of Thailand (SET).The plan to tax SET traders has been around for 30 years, but it has always been waived by ...

The cabinet on Monday approved a draft decree to regulate digital platform service businesses to maintain financial and commercial stability and to prevent damage to the public, government spokesman Thanakorn Wangboonkongchana said.Such businesses, both in and outside of Thailand, will need to notify the government ...

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, ...

The Cabinet on Tuesday agreed to maintain the VAT rate at 7 per cent for another two years from October 1, 2021, to September 30, 2023. The 7 per cent rate of value-added tax will be collected on sales of goods, services, and all imports ...

The government has no plan to hike the value-added tax (VAT) in order to achieve the gross domestic product growth target this year of 4 per cent, a senior official said.Anucha Buraphachaisri, spokesman for the Prime Minister’s Office, said that Thailand had set the VAT ...

The Finance Ministry has ordered the Customs Department to step up its search for ways to reduce the impact of the exemption on import tax and value-added tax (VAT) for imported goods worth up to 1,500 baht, saying such measures are hurting small and medium-sized ...