Thailand is proposing updates to its laws that will require foreign online platforms to register for VAT as part of a strategy to enhance regulation of online commerce and combat illegal sales. This initiative, discussed in a meeting led by the Deputy Minister, mandates that both local and foreign online businesses register as legal entities in Thailand and comply with VAT regulations. The Revenue Department is also revising tax laws to support this effort. Additionally, the government plans to increase customs inspections and product checks for online sales, aiming to assist small businesses in improving their competitiveness, particularly in exports to markets like China, Japan, and South Korea.
Thailand is proposing an update in its laws to require foreign online platforms to register for VAT
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Author: Ivana Picajkić
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Content accuracy validation date:
18.11.2024
Content accuracy validation time:
08:17h
This initiative is part of a strategy to enhance regulation of online commerce and curb illegal sales, following a meeting led by Deputy Minister Phumtham Wechayachai.
A significant change requires both local and foreign online businesses to register as legal entities in Thailand and comply with VAT regulations. The Revenue Department is also revising tax laws to support this effort.
Additionally, the government plans to increase customs inspections and product checks for online sales. It aims to assist small businesses in improving their competitiveness by facilitating their export growth, particularly to markets like China, Japan, and South Korea.
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