Revenue treads carefully into VAT collection from tech giants

Legal challenges await the Revenue Department’s plan to collect value-added tax (VAT) from cross-border e-services for the first time in Thailand, given the threat of counter measures from the US as in the case of France despite the difference in what they entail.
Facebook has recently blocked news content in Australia over a planned law requiring the tech giant to pay for content on its digital platform.
Targeting leading service providers such as Facebook, Google, Apple, Line, Netflix  and TikTok via an amendment to the Revenue Code, the collection will come into force in Thailand on  September 1 this year.  The amendment has been published in the  Royal Gazette.
Hailed as a business model, digital technology has taken hold in  today’s corporate transformation, especially in the services industry. Operators can either provide direct services to individuals around the world on the Internet or through platforms acting as an intermediary between service providers and customers. The technology allows individuals to easily and conveniently access electronic services – games, music, and movies – provided by foreign operators.
In 2020, Thailand had a population of over 69 million with an online penetration rate of a high  75 per cent . The Global web index survey data showed that more than 50 per cent of Thais aged between 16 to 64-year-old had access to online videos, music, and radio, leading to rapid growth in the online e-service market…. Read more:
#asia_news #business #electronic_platform #highlight #news #phuket #tech_firm #thailand #thailand_news #uncategorized #vat #phuketnews #thailandnews #asianews

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