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Pattaya Daily News

23 October 2012 :: 16:10:28 pm 67766

Internet Buyers Will Pay VAT By 2015

The Revenue Department plans to eventually add the VAT (Value Added Tax) to any purchases made via the Internet in Thailand. The decision was made in anticipation of the opening of the ASEAN free market in 2015, which is expected to stimulate commerce among the 10 Asian nations.
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BANGKOK – October 22, 2012 [Pattaya Daily News]; the Revenue Department of Thailand announced its intent to add the VAT on any purchases made over Internet in Thailand by the year 2015, when the opening of the ASEAN ECONOMY (AEC) begins.

Presumably the opening of the AEC will stimulate e-commerce also, said Mr. Sathit Rangkasiri, the Director-General of the Revenue Department. The Revenue Department is planning for the new tax collection system to be in accordance with the existing merchandising system and business operations once the AEC begins.

The Revenue Department recognized that if the buying and selling products occurred in Thailand, there should be the payment of the 7% VAT. However, the department cannot collect the VAT from the sellers because they are in foreign countries. So the Revenue Department will collect tax from the buyers in Thailand for both goods and services. Currently the department is studying the most appropriate method for collecting the VAT.

Mr. Sathit said that the Revenue Department confirmed that right now there is no VAT for Internet purchases. But the department will have to adjust their tax collection system and laws for the upcoming AEC agreement, because customers will have right to freely choose to buy services and goods from all 10 ASEAN countries.

If the products from other countries are cheaper and better, and the customers don’t have to pay any taxes, it will cause the foreign products to flow into Thailand a lot. So if the department doesn’t do anything about it, the government will lose all that potential revenue from uncollected taxes, he said.

After the opening of the AEC, the buying of goods and services via websites will be more convenient for people, so if the department does not collect the taxes, it will be not fair to the buyers and sellers in Thailand who pay taxes as usual.

The department will have access to information on the buying and selling products online, and can check whether the buyers from a business are paying taxes or not. But the department has to study how to collect the same rate of tax in order for domestic products to be able to compete with foreign products.

Initially the Ministry of Finance had commanded the Revenue Department to figure out the best method for monitoring and collecting taxes, so the department prepared to present its proposed methods to collect the VAT to the Ministry of Finance.

The Revenue Department proposed several methods of tax collection, such as letting the buyers pay the VAT themselves in some cases. They can use form P.P. 36, the VAT payment form already used by some services in foreign countries where buyers have to pay the VAT.

Category : Business News

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