REUTERSThailand will enforce the e-service tax law from Wednesday, following in the footsteps of more than 60 countries around the globe which collect value-added tax (VAT) from foreign e-service operators reaping income in their territories. The Revenue Department has developed a simplified VAT system for e-service (SVE) that enables the foreign e-service providers to register for VAT, file VAT returns and pay VAT electronically. Some 50 foreign e-service operators have registered through SVE, said Finance Minister Arkhom Termpittayapaisith. GIANT DIGITAL PROVIDERSRinlita Srirojpinyo, head of marketing at eBay Thailand, the local operating unit of the US e-commerce giant, said the company has its system ready for the new e-service tax law. The law, however, could encourage foreign e-service operators to register their business in Thailand so expenses incurred locally could be used for deduction from their corporate income tax.

Source: Bangkok Post August 31, 2021 23:48 UTC