Thailand may toughen tax rules for ICTs

telecomasia.net

The Thai government is considering toughening tax rules for international internet and technology companies, including mobile and internet commerce companies.

The head of Thailand's Revenue Department told Reuters that the government has set up a working committee for finding solutions for collecting tax from Google and other technology giants.

Laws and regulations that haven't been updated in 50 years could be amended to address the digital economy, the report states. The working committee is expected to report by the end of the year.

Countries in Southeast Asia are increasingly pursuing higher taxes from large internet and technology companies, with Indonesia pursuing the company for five years of back taxes, and Australia recently getting stricter on companies with annual earnings of over A$100 million ($76.4 million).

Large multinationals have been booking their regional profits in Singapore to take advantage of the city state's lower tax rate and incentive programs. But Singapore's finance ministry recently stated that it does not condone the artificial shifting of profits.

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