THAILAND-IN PURSUIT OF THE LOST TAX REVENUE
Thai government considering pollution tax on motorcyclists, 2018. NewsLovePattaya.com in Wikimedia Commos
The Nation-Dec 7
The Revenue Department has moved to begin harnessing the government’s share of income from booming e-commerce. The National Legislative Assembly last Tuesday approved Revenue Department amendments requiring banks and other financial institutions to report money transfers above Bt2 million per recipient per year to authorities. This will lead to a potential new tax liability for many online retailers, especially small-scale ones, because they have been avoiding taxes in recent years due to the department’s lack of a database on electronic payments for online sales of goods and services.
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First published in: The Nation