As from 1 September 2021, nonresidents and electronic platforms deriving revenue from the provision of electronic services to non-VAT-registered customers in Thailand are required to register for VAT and account for the 7% VAT if their annual revenue from the provision of such services exceeds THB 1.8 million. The Thai Revenue Department issued guidance on the new rules on 30 June. In a separate development, on 24 August, the Thai cabinet extended the 7% standard VAT rate for another two years through 30 September 2023. The rate was due to revert to the normal 10% rate on 1 October 2021.
Source: BDO
