Transcript of the above video:

As the title of this video suggests, we are discussing E-Service Tax Law in Thailand. 

A recent article from the Bangkok Post, that is bangkokpost.com, the article is titled: Foreign Websites to Pay VAT. Quoting directly: "Around 20 large overseas online platform operators plan to register as Value Added Tax payers in Thailand says Ekniti Nitithanprapas, Director General of the Revenue Department. The move comes in response to the enforcement of the E-Service Tax Law from September 1 when overseas businesses providing online services in Thailand will be required to register for 7% VAT liability if their annual income exceeds 1.8 million Baht."

So folks, this has been a long time coming. They have been talking about this for some time and it looks like some fairly large online operators have basically been compelled to go ahead and come on board with this E-Service Tax Law and start paying some VAT into Thailand. Now this remains to be seen exactly how this is going to play out. I have had a lot of folks contact us who want to know how this interacts with their business, especially certain offshore businesses and it is going to depend. It is very factually driven. As noted, if you don't make more than 1.8 million Baht it may not even apply to you. Again, various circumstances may come into play with respect to this but it is notable that yeah Thailand is getting into this nexus of commerce kind of taxation in 2021.