Taxation

Although the land and building tax will be implemented at the beginning of next year, tax filing for the measure will be scheduled for August instead of April because of some uncompleted organic laws, says the Fiscal Policy Office (FPO).The Interior Ministry, which shares responsibility ...

The government has launched a so-called super savings fund (SSF) aimed at encouraging people to invest in long-term mutual funds by offering tax deductions of up to 30 per cent of annual income.The Cabinet approved the Finance Ministry’s proposal on the new tax scheme, Finance ...

The Excise Department will devise a method to refund overpaid taxes to oil exporters in a manner that stems leakages, its chief says.The change in the tax refund practice will use blockchain, which the department plans to adopt by the middle of next year, said ...

The Customs Department’s tax revenue collection missed its target by 1.1% in the first month of fiscal 2020.The tax-collecting agency in October gathered 52.1 billion baht, of which 8.7 billion was the Customs Department’s revenue and the remainder was revenue the department collected on behalf ...

The Revenue Department plans to adopt a carrot-and-stick approach in an effort to add 3-4 million individual and corporate taxpayers to the system, its chief says. The department must convince those with taxable income to enter the tax system, said Ekniti Nitithanprapas, director-general of the ...

Finance Minister Uttama Savanayana confirmed on Tuesday (September 10) that the Cabinet has agreed to maintain value added tax (VAT) at 7 per cent for another year and has vowed to keep a close eye on the economy.Keep reading ...

The Revenue Department estimates that value-added tax (VAT) collection will fall short of the target for this fiscal year because of waning domestic consumption and the stronger baht, and the shortfall could extend to next year if the situation remains unchanged.Keep reading ...

The Revenue Department and the Comptroller-General’s Department are set to launch a pilot project using blockchain technology in the next few weeks, aiming at streamlining work processes.The innovative technology will also help provide information associated with value-added tax and inspecting VAT refunds to reduce fraud, ...

The Finance Ministry expects to introduce a value-added-tax on electronic businesses next year, aiming to collect between 3 billion to 4 billion baht a year, a ministry official said on Monday, tapping a boom in e-commerce in the country.Keep reading ...

The Revenue Department is studying two options for the government’s personal income tax cut campaign promise — one an outright 10-percentage point cut across tax brackets and the other a 10% cut across brackets.For the cut by 10 percentage points, individual taxpayers who are liable ...