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Thailand to manage digital platform service companies

BANGKOK, Oct 25 (Reuters) – Thailand’s cupboard on Monday authorized a draft decree to manage digital platform service companies to take care of monetary and industrial stability and to stop injury to the general public, a authorities spokesman stated.

Such companies, each in and out of doors of Thailand, might want to notify the federal government earlier than working, spokesman Thanakorn Wangboonkongchana stated in a press release.

The regulation will apply to varied digital platform providers together with on-line marketplaces, social commerce, meals supply, house sharing, trip/automobile sharing and on-line engines like google, he stated.

“They are all increasingly important to the economy and society, so there is a need to oversee them,” Thanakorn stated.

Last month, the federal government stated it could begin gathering value-added tax (VAT) from overseas expertise firms together with Facebook (FB.O) and Google (GOOGL.O), intermediaries comparable to ride-hailing app Grab and streaming providers comparable to Netflix (NFLX.O). learn extra

Reporting by Panarat Thepgumpanat
Writing by Orathai Sriring
Editing by Christian Schmollinger

FILE PHOTO: People visit shopping center to celebrate New Year Eve during the coronavirus disease (COVID-19) outbreak in Bangkok, Thailand December 31, 2020. REUTERS/Soe Zeya Tun/File Photo/File Photo