30 June 2020
Thailand is set to extend its VAT regime to apply to the sales of electronic services supplied by non-resident (foreign) companies to consumers in the country.
Currently, foreign businesses providing digital services to consumers in Thailand do not have to charge VAT on their sales. However, in an effort to remove the unfair advantage this gives to non-resident companies over Thai resident providers, the Thai government are proposing that VAT at 7% will be applied to these types of transactions.
This new tax will be subject to a 1.8m Baht (approx. £47k) annual threshold and will apply to a range of electronic services including streaming games, music, apps, films, e-books, e-journals and internet services.
Are you trading globally? Whether you require basic VAT advice or specific VAT compliance support, Fiscal Solutions can help. Our team of multi-lingual experts are knowledgeable in all the different VAT rules in Europe and around the world.
We help you simplify today’s complexities and address tomorrow’s challenges. The values we represent, and our consistent advice, mean you can trust Fiscal Solutions to do the right thing – for you and your organisation.