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Thailand plans ecommerce tax for 2020

Tuesday 27 August 2019 08:48 CET | News

Thailand is expected to introduce a value-added-tax on electronic businesses in 2020, tapping a boom in ecommerce in the country, Reuters reports.

With this tax, the government aims to collect between USD 98 million to USD 131 million a year. The tax is expected to seek parliamentary approval in the following months of 2018.

Ecommerce is surging in Thailand where entrepreneurs sell products directly to customers via Facebook, Instagram, and messaging apps such as Line. Driven by upgrades to mobile banking apps, sales via social media in Thailand more than doubled to USD 10.92 billion in 2017, according to a report from the country’s Electronic Transaction Development Agency.


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Keywords: Thailand, ecommerce, payments, bank, Line
Categories:
Countries: World