Thai online vendors required to file taxes from 2024 as new directive kicks in

[snoop1130]

 

Online vendors are required to file taxes for the year 2024, with the Revenue Department mandating online platforms to disclose income data. This directive, effective from January 1 applies to all businesses, including e-Commerce, food and product delivery services like Shopee, Lazada, Grab, and TikTok.

 

These platforms, registered in Thailand and having an annual income exceeding 1 billion baht, are obligated to maintain special accounts. These accounts should display the income data of the online vendors selling goods or services on these platforms and must be submitted to the Revenue Department within 150 days from the end of the accounting period.

 

Online vendors wondering about the tax obligations for online businesses, the necessary documents for filing taxes, and the process of filing taxes can find comprehensive information here. It’s important to note that online sales are subject to income tax and the calculation is divided between personal income tax and corporate income tax, depending on the nature of the business. In cases where the annual sales exceed 1,800,000 baht, the business must register for a Value Added Tax (VAT) within 30 days.

 

Online vendors whose income exceeds 60,000 baht are required to file taxes twice a year. The first filing, for personal income tax semi-annually (Form P.N.D.94), is between July 1 and September 30 of the same year.

 

By Nattapong Westwood

Caption: PHOTO: via current affairs

 

Full story: The Thaiger 2024-01-09

 

- Cigna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here.

 

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[TroubleandGrumpy]

Wow - I wonder just how many new employees the Thai RD will need. IMO the increased money they get from this exercise will cost more than it takes to police the Vendors.  

[smedly]

 how about a slot machine app that many Thais are falling victim to, it is clearly against the law

 

 

as i said before - they think they can win and do sometimes - a few hunderd baht now and again, but you couldn' tell them that it is a scam, a girl has lost 500,000 bhat - yes 500k 

 

this is so sad that they have become victims of these scrupulous people

 

I don't know the actual app  concerned but i assume it is on the playstore 

 

gambling is illegal in Thailand......and i can uderstand why

 

the authorities need to investigate this and shut it down

[quake]

8 hours ago, TroubleandGrumpy said:

Wow - I wonder just how many new employees the Thai RD will need. IMO the increased money they get from this exercise will cost more than it takes to police the Vendors.  

 

I think your right.

But, They will do it anyway.

as they do with many things in Thailand.

TIT.

[smedly]

I have been to the tax office in pattaya to reclaim tax i paid on interest from a savings account, altogether very pleasant people because they don't see many foreigners in there, took me 5hrs up and down floors and then waited 6 months for my rebate afer visiting 2 times, you think immigration is bad ......... just wait and see how good immigration actually is, don't get me wrong - my experience was fun - just not productive as they didn't speak english

[Peterphuket]

And of-line shops are those still exempt?

[brianthainess]

There are street vendors earning a lot more than 60,000 a year and they pay no income tax. 

[jacko45k]

Just now, brianthainess said:

There are street vendors earning a lot more than 60,000 a year and they pay no income tax. 

Let us just say 'street workers' perhaps?

[lordgrinz]

Anyone want to bet on how many will voluntarily sign up for taxes? I'm going with about 5%

[freeworld]

Stifling innovation and ones ability to keep all the money they have worked for.

[freeworld]

26 minutes ago, lordgrinz said:

Anyone want to bet on how many will voluntarily sign up for taxes? I'm going with about 5%

Can easily be tracked now, the govt will just start using the law to instill fear and get everyone to comply. Its working in the west.

[proton]

Tax prostitutes, they are the big earners 

[petermik]

38 minutes ago, proton said:

Tax prostitutes, they are the big earners 

Been told numerous times....NO prostitution here

[lordgrinz]

47 minutes ago, freeworld said:

Can easily be tracked now, the govt will just start using the law to instill fear and get everyone to comply. Its working in the west.

 

They'll definitely be dragged while kicking and screaming.

[brianthainess]

1 hour ago, jacko45k said:

Let us just say 'street workers' perhaps?

You may want to say that, but I've seen our local street vendor with a M/C and side car, who makes pancakes with thousands in her bag, and by the look of her eats about 20 a day herself. 

[freeworld]

1 hour ago, lordgrinz said:

Anyone want to bet on how many will voluntarily sign up for taxes? I'm going with about 5%

 

I'd say most of them.

 

Just like in the US news yesterday

IRS: Venmo, PayPal And CashApp Freelancers Face 2024 Reporting Requirements

 

 

 

[quake]

1 hour ago, proton said:

Tax prostitutes, they are the big earners 

 

That should be a 3 week ban, straight away for that.

We don't want the price of a jump going up.  

 

[brianthainess]

20 minutes ago, quake said:

 

That should be a 3 week ban, straight away for that.

We don't want the price of a jump going up.  

 

But could that not be tax deductible, as entertainment keep the receipt though

1 hour ago, proton said:

Tax prostitutes, they are the big earners 

 

[Confuscious]

I wonder if the IRS will start taxing the monthly allowace sent to the "ladies" from foreign friends abroad.
This is a HUGE yearly money transfer and easily to control.

Also, many people have switched from "CASH" to phone payment (QR code) which is more easy to trace.
And with the Digital Wallet, hiding your income/spending will be more difficult to hide your income.
Many "mom and pa" shops who were not declaring their true income over the years will give their data away with the Digital Payment (QR Code).

No need for extra employees at the IRS.
The Digital Wallet and the requirement if the banks to display the accounts will do the job. 

[sungod]

2 hours ago, proton said:

Tax prostitutes, they are the big earners 

 

Have to legalise it first!

 

[Confuscious]

15 hours ago, TroubleandGrumpy said:

Wow - I wonder just how many new employees the Thai RD will need. IMO the increased money they get from this exercise will cost more than it takes to police the Vendors.  

 

So many members are totally missing the big deal behind the new tax agreement.

The new tax agreement has little or nothing to do with the few bucks Thailand would get from your pension from an expat in Thailand.

Rather it is all part of the Digital Wallet scheme that has been in place a few years ago and it's only a new way to know the TRUE income of their citizens.
Together with the new bank rules (disclosing your income) and a few other new implementations, there is no way to falsify the income declarations anymore.
The citizens of Thailand were very happy to use the Prompt Pay inplementation a few years ago.
Every shop or seller in Thailand was happy to use Prompt Pay instead of using real money (by the way, this is also going on in Western countries).

There is a HUGE Tax to earn by the governments in the digital era (On-line sellers; Gifts to influencers; etc,) that was kept out of the reach of the taxman and now will need to pay taxes like everybody.

No need for extra employees as the control of the citizens is exercised by themselves.

World is changing and many people still believe that they live in the world as it was before.
Wake up.

[jacko45k]

20 hours ago, brianthainess said:

You may want to say that, but I've seen our local street vendor with a M/C and side car, who makes pancakes with thousands in her bag, and by the look of her eats about 20 a day herself. 

When I first came here I had this magnanimous moment at Christmas, and made a few care packages of rice, cooking oil, tinned fish etc, and went off to an area up Khao Talo where I heard all the scavengers (scrap collectors) and poor people lived. I saw so many new cars and motorcycles parked in front of hovels I was perplexed... they all claimed to be poor and in need though!

[TroubleandGrumpy]

19 hours ago, Confuscious said:

 

So many members are totally missing the big deal behind the new tax agreement.

The new tax agreement has little or nothing to do with the few bucks Thailand would get from your pension from an expat in Thailand.

Rather it is all part of the Digital Wallet scheme that has been in place a few years ago and it's only a new way to know the TRUE income of their citizens.
Together with the new bank rules (disclosing your income) and a few other new implementations, there is no way to falsify the income declarations anymore.
The citizens of Thailand were very happy to use the Prompt Pay inplementation a few years ago.
Every shop or seller in Thailand was happy to use Prompt Pay instead of using real money (by the way, this is also going on in Western countries).

There is a HUGE Tax to earn by the governments in the digital era (On-line sellers; Gifts to influencers; etc,) that was kept out of the reach of the taxman and now will need to pay taxes like everybody.

No need for extra employees as the control of the citizens is exercised by themselves.

World is changing and many people still believe that they live in the world as it was before.
Wake up.

Depending on how you look at it - you are right and things are changing and not all those changes are for the people's benefits. But that is the way it has always been - ever since they stopped paying people with cash and mandated that it had to go into a bank account.  There are Pros and Cons about all it and that includes this current move worldwide towards 'digital wallets'.  Yes it is all about taxes - just like red light and speed cameras - whatever makes it easie for Govts to make more money will be pushed on to us - with that reason hidden behind 'benefits to the people'. Same reason ATMs started - and yet they now charge fees to use them.

 

There is no 'solution' and very little that can be done - because it is not a 'conspiracy' that can be 'exposed' - it is a convergence of vested interests - there always has been and always will be people who take advantage of things changing - some good and some not good.  But it is possible to plan ahead and think about things. Like having 2-3 bank accounts and 2-3 email addresses ec. - and regularly (every 2-3 years) get rid of 1 or 2 and later get another 1 or 2. You cant stop it, but you can make yourself less 'visible'.  

[it is what it is]

On 1/9/2024 at 11:43 PM, smedly said:

I have been to the tax office in pattaya to reclaim tax i paid on interest from a savings account, altogether very pleasant people because they don't see many foreigners in there, took me 5hrs up and down floors and then waited 6 months for my rebate afer visiting 2 times, you think immigration is bad ......... just wait and see how good immigration actually is, don't get me wrong - my experience was fun - just not productive as they didn't speak english

 

indeed, i went with a gf to get a new driving license, it took ages, queue after queue, reasonably well organised but very bureaucratic and time consuming. back home i can sort out a new license with a few computer clicks. thailand in the digital age? not yet.

[jacko45k]

4 minutes ago, it is what it is said:

 

indeed, i went with a gf to get a new driving license, it took ages, queue after queue, reasonably well organised but very bureaucratic and time consuming. back home i can sort out a new license with a few computer clicks. thailand in the digital age? not yet.

My Mrs went to renew her own licence yesterday... came back fuming and raving and without her new licence.  She seems to think they are very unhelpful at the Pattaya PTO.