According to a Reuters report on September 1, Thailand’s Ministry of Finance stated that Thailand began to collect value-added tax (VAT) from foreign technology companies on September 1, and is expected to increase tax revenue by at least 5 billion baht ($154.7 million) each year.
Ekniti Nitithanpraphas, a senior official of the Thai Ministry of Finance, said that foreign digital service companies or platforms that provide digital services in Thailand with annual revenues of more than 1.8 million baht must pay a 7% value-added tax. Dozens of major international digital platforms, including Apple, Google, Facebook, Netflix, Line, YouTube and TikTok, must register for value-added tax and pay taxes.
Thailand levies about 800 billion baht in value-added tax each year. Since the 1997-98 Asian financial crisis, Thailand's value-added tax rate has been 7%. Last week, the Thai government approved the extension of the current 7% value-added tax rate to September 2023.
Source: http://th.mofcom.gov.cn/article/jmxw/202109/20210903194934.shtml
