Closer monitoring of tax evasion

Category: General

Closer monitoring of tax evasion

            The Finance Ministry has set up a committee to monitor payments from taxpayers in an effort to close loopholes used for tax evasion. The Revenue Department and Custom Department are working jointly, especially targeting those e-commerce operators who refuse to enter the formal tax system. Those who register as juristic persons shall be subject to corporate income tax and those who are individuals shall be liable to pay personal income tax. The Revenue Department’s computer system is linked to other bodies to enable the examination of tax payment history and financial transactions

 

Credits

Original article by: Wichit Chantanusornsiri, Bangkok Post

Arranged by:         Interlex and Biz Cousellor

25 May 2018

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