Thailand is expected to introduce a value-added-tax on electronic businesses in 2020, aiming at collecting between USD 98 million to USD 131 million a year. The proposal will be sent for parliamentary approval later in 2019.
According to official sources, the strategy would tap a boom in e-commerce in the country. E-commerce is currently experiencing strong growth in Thailand, where entrepreneurs sell products directly to customers via Facebook, Instagram and messaging apps: sales via social media more than doubled, reaching USD 10.92 billion in 2017, according to the Thai Electronic Transaction Development Agency.
(Source: Reuters; PYMNTS.com)