On 27^th December 2023, the Revenue Department of Thailand (RD) issued the Notification of the Director-General of the Revenue Department re: Requiring  Electronic Platforms to Prepare Special Accounts to set up requirements for providers of social media / e-commerce platforms to submit data of their revenues received from their users / business operators who sell goods or providing services on their platforms effective from the fiscal year starting on 1^st January 2024.

The notification requires platforms to do the followings:

1.   Platforms registered in Thailand having revenues exceeding THB1 billion in any fiscal year are required to prepare a “special account” containing the data of the revenues which they receive from the business operators and submit the special account to the RD within 150 days from the end of the relevant Platform’s fiscal year.

2.   Platforms are required to submit the data / special account online by integrating its electronic system, which meets the requirements prescribed by the RD, with the RD’s electronic system.  Alternatively, Platforms can outsource a third-party service provider approved by the RD to prepare and submit the special account to the RD on its behalf.

3.   Platforms remain subject to this submission requirement even if they subsequently earn less than THB1 billion in any subsequent fiscal year.

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