Thailand expects to introduce a value-added-tax on electronic businesses next year, aiming to collect between 3bn to 4bn baht ($98m to $131m) a year, an official said, tapping a boom in e-commerce in the country.
The tax is expected to seek parliamentary approval this year, Ekniti Nitithanprapas, director-general of the Revenue Department, told reporters, without elaborating. E-commerce is surging in Thailand where entrepreneurs sell products directly to customers via Facebook, Instagram and messaging apps like Japan’s Line Corp.
Driven by upgrades to mobile banking apps, sales via social media in Thailand more than doubled to 334.2bn baht ($10.92bn) in 2017, according to the latest report from the country’s Electronic Transaction Development Agency.