Greater Focus On E-Commerce Taxes

Greater focus on E-commerce taxes

Wichit Chaitrong

The Nation

Revenue Department chief Satit Rungkasiri today warns businesses engaging in E-commerce to pay tax properly or they will face 5-year back tax, severe fine penalty and extra-high interest rate.

He said that next year tax officials will focus on tax collections from E-commerce transactions.

The department has already built data base of E-commerce businesses. Those who make contacts with the department would be required to pay 2-year back tax payment stemming from E-commerce transactions. Those who evade tax will be subjected to 5-year back tax plus severe fine and penalty interest rate.

The department has come under pressure to meet tax collection target of Bt1.624 trillion for 2012 fiscal year. This is set amid the promise to cut corporate tax to 23 per cent, huge spending after floods and other tax breaks which could cost revenue loss of Bt130billion.

-- The Nation 2011-12-23