- Thailand is digitizing its tax system with a goal to create a comprehensive digital tax ecosystem by 2028.
- The Thai Revenue Department is extending infrastructure for electronic invoice exchange and reporting of account and tax information with specialized service providers.
- Incentives include double deduction for investments made for the Electronic Tax System and discounts for using e-tax system service providers.
- Service providers will now store tax documents in electronic form.
- The e-invoicing implementation timeline is as follows:
- by 2024, service providers must issue, archive, and deliver electronic invoices on behalf of taxpayers;
- by 2025, large companies should issue electronic invoices;
- by 2027, large companies should file their tax returns electronically; and
- by 2028, all entrepreneurs should file taxes electronically.
Source Comarch
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