Almost 100 global platforms ready to pay e-tax

14 Sept 02:23 Key points summarised by AI

Thailand's new 7% e-service tax, effective September 1st, requires non-resident electronic platforms generating over Bt1.8 million annually from Thai services to register.
Approximately 90 major global platforms, including Facebook, Netflix, Tencent, and Alibaba, have already registered, with the first revenue collection expected by October 25th.
This tax aims to level the playing field between local and foreign service providers and is projected to generate Bt5 billion in revenue, helping to mitigate tax collection declines due to COVID-19.
Consumers in Thailand are likely to bear the additional 7% VAT as foreign platforms are expected to pass on the cost of the new tax.

New home loan scheme aims to boost property sector with Bt125 billion

20 Oct 11:38 Key points summarised by AI

The Cabinet approved a new Bt50-billion 'A House for Each PLUS' home loan scheme from the Government Housing Bank, offering up to Bt3 million with 40-year repayment terms for low- and middle-income earners.
This initiative aims to significantly boost the property sector and national economy, projecting to generate Bt125 billion in economic activity and create jobs.