Elec­tronic Data Cap­ture De­vices Lead to Tax Priv­i­leges

Thai-American Business (T-AB) Magazine - - Legal Updates -

The De­part­ment of Busi­ness De­vel­op­ment ( DBD) urges busi­ness op­er­a­tors to in­stall an elec­tronic data cap­ture ( EDC) ma­chines in or­der to be en­ti­tled to tax priv­i­leges.

The DBD Di­rec­tor- Gen­eral, Ban­jongjitt Ang­sus­ingh stated that, un­der the na­tional e- pay­ment pol­icy, the gov­ern­ment is striv­ing to per­suade all sec­tors to de­vi­ate from cash- based pay­ments to elec­tronic trans­ac­tions, which carry lower fees. The change is ex­pected to up­lift the fi­nan­cial in­fra­struc­ture of the coun­try and boost its busi­ness po­ten­tial.

The Di­rec­tor- Gen­eral said her de­part­ment has is­sued an announcement en­cour­ag­ing all busi­nesses that re­ceive pay­ments from cus­tomers to in­stall at least one EDC de­vice in each es­tab­lish­ment as an­other pay­ment op­tion for the pub­lic. She noted that the cost of the de­vice and the in­stal­la­tion fee will be waived while they will also be el­i­gi­ble for tax priv­i­leges as spec­i­fied by the Rev­enue De­part­ment.

Busi­ness op­er­a­tors can ob­tain EDC ma­chines from any providers cer­ti­fied by the Fi­nance Min­istry, in­clud­ing Krung Thai Bank, Bank of Ayud­hya, TMB, Siam Com­mer­cial Bank, Thanachart Bank, Bangkok Bank and Kasikorn Bank.

For more in­for­ma­tion con­tact the De­part­ment of Busi­ness De­vel­op­ment at the Min­istry of Com­merce

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