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Thailand is considering tougher tax rules for tech firms like Alphabet

A man holds his smartphone which displays the Google home page, in this picture illustration taken in Bordeaux, Southwestern France, August 22, 2016. REUTERS/Regis Duvignau

By VentureBeat

(Reuters) – Thailand is studying plans for tougher tax collection rules governing internet and technology firms, according to the head of the country’s Revenue Department.

The plans would also cover the mobile transfers and internet payment sector, Prasong Poontaneat, director general of Thailand’s Revenue Department, told Reuters. He said a working committee had been set up to find solutions on tax collection for companies such as Alphabet Inc’s Google and other technology firms.

“The idea is to seek appropriate solutions for Thailand and it could involve an amendment in some regulations because current laws are outdated and have been used for more than 50 years,” Prasong told Reuters, adding that he expects the committee to come up with solutions by the end of this year.

(Reporting by Manunphattr Dhanananphorn; Writing by Amy Sawitta Lefevre; Editing by Simon Cameron-Moore)

First appeared at VB

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