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Finance ministry eyes Bt3bn from tech tax

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Finance ministry eyes Bt3bn from tech tax 

By The Nation 

 

b87332e4df7d114c4ee4827d0f283652.jpeg

Patricia Mongkhonvanit, Revenue Department’s deputy director general

 

The Finance Ministry says it has targeted an annual Bt3 billion in tax collection from Google, Facebook, Amazon, Alibaba, Apple, Line and other foreign tech giants.

 

Following Cabinet approval of the draft bill to collect 7-per-cent value-added tax from foreign e-commerce firms who sell products and services to Thai consumer, the Revenue Department aims to get 85 tech giants to register VAT payment with Thailand, Patricia Mongkhonvanit, Revenue Department’s deputy director general, said on Wednesday. 

 

Thailand follows 50 other governments that are collecting taxes from e-commerce businesses. Thai consumers buy about 400,000 items daily from foreign websites, she added. If the price of any item is less than Bt1,500, VAT is exempted but it is subject to import tariffs. 

 

It will take time before the bill becomes law as it needs approval from the National Legislative Assembly.

 

Source: http://www.nationmultimedia.com/detail/breakingnews/30350335

 
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-- © Copyright The Nation 2018-7-18
  • Popular Post

The government doesn't need more tax. It just needs to remove the corrupt leeches who syphon of a significant portion of the existing ones. 

1 hour ago, snoop1130 said:

The Finance Ministry says it has targeted an annual Bt3 billion in tax collection from Google, Facebook, Amazon, Alibaba, Apple, Line and other foreign tech giants.

 

Such naiveté, these are the companies which don't pay any tax.

It started at Bt3 billion but was rounded down to 300 after embezzlement expenditure was taken into account. 

Quote

The Finance Ministry says it has targeted an annual Bt3 billion in tax collection from Google, Facebook, Amazon, Alibaba, Apple, Line and other foreign tech giants.

 

Quote

Thailand follows 50 other governments that are collecting taxes from e-commerce businesses.

 

So according to the Nation, 50 other countries are already taxing those foreign tech-giants even though they are based in other tax jurisdictions. 

 

Then The Nation says this

Quote

 If the price of any item is less than Bt1,500, VAT is exempted but it is subject to import tariffs. 

 

And this is what Thai Customs says

Quote

Thai Customs has specified the minimum value of consignments below which no duties or taxes will be levied or what is commonly known as a "de minimis" �value. Under the "de minimis" �threshold, postal items or express consignments with CIF value not exceeding 1,500 baht are allowed to be imported free of tax and duty. 

 

It makes you wonder whether there is any point in reading The Nation.

2 hours ago, snoop1130 said:

Finance ministry eyes Bt3bn from tech tax 

And I thought Thailand 4.0 was all about high technology and communications.

This new tech tax is called the Thailand 4.0 tax. Only a retard junta could have thought up this regressive tech tax. 

 

3 hours ago, Katipo said:

The government doesn't need more tax. It just needs to remove the corrupt leeches who syphon of a significant portion of the existing ones. 

Thailand has a very low income tax base, partly because much of the population doesn't earn enough to pay it.

 

Taxes on things like this and consumption are where they're getting the money from.

 

You make a good point about the parasites though!

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