The Cabinet has approved in principle a draft law allowing the electronic versions of newspapers and textbooks to be registered and eligible for the collection of Value Added Tax (VAT).
Deputy Government Spokesperson Traisulee Traisoranakul explained that the draft bill enables owners of online e-newspapers, e-magazines and e-text books to register with the Revenue Department. The move will make these products taxable like their physical counterparts.
She noted that electronic newspapers, magazines and text books delivered as online services are currently exempt from paying VAT. However, due to a lack of regulation supporting the practice, service providers are unable to register them as items eligible for VAT charges.
Traisulee said the draft bill will grant electronic information service providers the same right to pay taxes as their peers who conduct similar business through other channels.
The deputy spokesperson also said that if the bill becomes law, it will increase the number of taxable businesses and provide more business opportunities. Additionally, entrepreneurs will benefit from other tax-related advantages, as well as increased customer confidence. (NNT)
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