New e-payment taxation to facilitate online retailers: RD

New e-payment taxation to facilitate online retailers: RD

Tanakorn Sangiam

BANGKOK, 7 December 2018 (NNT) - The new e-payment taxation is designed to support the growth of electronic transactions and to help online retailers pay the tax more conveniently, said Revenue Department's (RD) Spokesman Pinsai Suraswadi. 

Regarding the newly introduced a revision of the Revenue Code to support electronic documentation and taxation according to the National e-Payment Master Plan, the spokesman said that the revision which was recently approved by the National Legislative Assembly is aimed to provide greater conveniences to the taxpayers by way of electronic transactions and documents. 

The new revision will allow the taxpayers to file the withholding tax through a third party such as banks, without having to re-submit it to the Revenue Department. 

The new revision also aims to collect tax from online businesses, without a particular focus on any specific business. It will empower authorized officials to inspect persons whose bank accounts receive more than 3,000 incoming transactions per year, or 400 transactions per year on a single account, or having a total transaction amounting up to two million baht. 

The RD spokesman said transaction data will be processed along with other information to determine taxable amounts, as not all transactions are actually taxable. The agency will use such data in categorizing the taxpayers and improving its services.

 

-- nnt 2018-12-08