Thailand’s Revenue Department (RD) has issued a notification requiring electronic platforms to report their revenue from business operators on their platform. With this information, the RD intends to track business operators’ income from the sale of goods and services through electronic platforms in order to facilitate accurate and efficient tax collection. The notification, which was enacted on December 27, 2023, took effect on January 1, 2024.
Under the notification, electronic platforms are required to compile a “special account” containing information on the revenue received from each business operator on their platform and submit it to the RD through the department’s electronic reporting system within 150 days of the end of the fiscal year.
The notification defines “electronic platforms” as entities that intermediate between business operators (i.e., sellers of goods or providers of services via the electronic platform) and consumers for the purpose of enabling electronic transactions between the parties. This covers online marketplace operators, ride-hailing operators, food delivery operators, and so on.
This reporting requirement applies to electronic platforms registered in Thailand that have (or previously had, starting from the notification’s effective date) annual revenue exceeding THB 1 billion (approx. USD 28.5 million), except for electronic platforms under the supervision of the Bank of Thailand or the Office of the Securities and Exchange Commission, such as payment service providers and cryptocurrency exchanges. Electronic platforms can appoint a third party to prepare and submit the required special account information to the RD on their behalf.
Compliance Steps
As the requirements established by this notification mean that the RD will now have direct access to information on the income earned by vendors and merchants on electronic platforms, these business operators—whether corporate or individual—should ensure that they faithfully disclose their earnings, submit tax payments correctly, and file income tax returns in a timely manner with the RD.
Likewise, electronic platforms registered in Thailand should adopt a systematic approach to complying with the special account reporting requirement.
