This site uses Akismet to reduce spam. The third draft clarifies that the platform owner is only required to register for VAT once and pay the combined output VAT for all relevant foreign companies. Projections for 2020 digital marketing trends in Thailand made in the last few months of 2019 seemed interesting and optimistic: there’s going to be an increase in video consumption, more people using voice search, and a jump in social media shopping. The department estimated that Thailand would earn over Bt3 billion from the value-added tax collected from international digital platforms, such as Facebook, Uber or … The International Tax Services consists of Thai and foreign tax professionals. A professionally designed online store boosts profitability, builds brand credibility, & serves as an important customer service touch-point. Thailand’s nascent e-commerce industry is thriving and making serious money. This is the average monthly salary including housing, transport, and other benefits. We want to make sure you're kept up to date. Learn how your comment data is processed. Please take a moment to review these changes. Further details are expected to be released later. A foreign company that provides electronic services to a non-VAT registered person will be required to register for VAT in Thailand, subject to meeting the THB 1.8 million threshold. Outsourcify Co. Ltd. is a BOI approved company created by Thai, French and Swedish partners, with currently a team of more than 30 web designers and developers working in our Bangkok, Thailand, office (Asoke/Sukhumvit soi 31). Please note that your account has not been verified - unverified account will be deleted 48 hours after initial registration. Facebook, please fix your Facebook for Business Sign Up page, Indonesia e-commerce landscape: key players and trends, ← What Singapore General Election 2020 result means for foreigners, My thoughts on “The Big Cycle of the United States and the Dollar, Part 1” by Ray Dalio →, Thailand e-commerce landscape: key trends and data points (update 2020), Indonesia advertising landscape: key facts and trends, “The changing world order” Ray Dalio’s insights about what to come in the next 5 – 30 or 50 years, 10 key facts about South Korea e-commerce (updated Mar 2019), Japan e-commerce is lagging behind other G7 countries and China, Search engine market share in South Korea, Japan, China and other APAC markets (2019 update), 8 key facts about Vietnam digital marketing landscape, 8 key facts about Japan Subscription Video on Demand (SVOD) landscape. Leading C2C e-commerce sites Thailand Q2 2020 by monthly visits Published by Statista Research Department, Sep 18, 2020 As of the cond quarter of 2020, Shopee was the most visited C2C e … All Rights Reserved. Thailand e-commerce landscape: key trends and data points (update 2020) July 17, 2020 Given that we are going through a global pandemic, before we talk about e-commerce, I think it is important to understand the overall Thailand economy and how it is doing. Hence, if your company wishes to achieve a task in e-commerce marketing, e-commerce platform maintenance or even in e-commerce designing, then your company doesn’t have to misuse costly hours seeking an expert in Thailand. Copyright © 2020 Chandler Nguyen. Global B2C E-commerce Industry September 2020 $ 5450 Global E-commerce Payment Industry July 2020 $ 4950 E-commerce Plastic Packaging Market - Growth, Trends, Forecasts (2020 - 2025) August 2020 $ 4250 The Environmental Impact of E-Commerce 2020 January 2020 $ 2150 - “Electronic platform” means markets, channels or any other method that several service providers use to provide electronic services to service recipients. Growing at an estimated 20% a year, e-commerce shows no signs of slowing, and by 2020 it is likely to be worth in excess of US$4 trillionb. For more detail about the structure of the KPMG global organization please visit https://home.kpmg/governance. However, it further states that the amended provisions that relate to VAT payment will be enforced in respect of income received or payment made from the first day of the seventh month from the month that these proposed VAT amendments are published in the Royal Gazette. Since the last time you logged in our privacy statement has been updated. Earlier in Pre-COVID-19 2020, the most popular online shopping category in Thailand was travel & accommodation, amounting to $6.12 Billion in 2019. In fact, social media platforms such as Instagram account for one-third to one-half of all e-commerce transactions in Thailand. A person working as an E-Commerce Manager in Thailand typically earns around 120,000 THB per month. The Magazine Premium Theme by bavotasan.com. Thailand’s startups are thus keen on capitalizing on this and increasing the proportion of Thai online shoppers from its current 21.7%. This is the latest forecast in Jun 2020 by International Monetary Fund (IMF). A personal blog about marketing, leadership, history, and geopolitics, Google, Temasek and Bain & Company Oct 2019, Keyword Matching Option and Search Query Report. These affluent consumers are propelling the growth of Thailand’s beauty and personal care products market, and are increasingly demanding specialist and natural products. November 30, 2020 E-Commerce Marketing Analyst salaries vary drastically based on experience, skills, gender, or location. From the same Bain & Company, Temasek and Google report, “In Southeast Asia, there is much more: online shopping festivals have multiplied, from 9.9 (9 September) and Singles Day (11 November) to 12.12 (12 December), while sales are “always on”. What is the ONE thing that I would share with a Newbie? Vietnam digital landscape in 2020 is looking forward for E-commerce players and E-wallet companies to push online shoppers towards online payment methods. All public stakeholders are encouraged to submit their comments on the draft amendments. {{vm.newUser1}} Here are four of Thailand’s key ecommerce players that could be signs of good things to come. © 2020 KPMG Phoomchai Holdings Co., Ltd., a Thai limited liability company and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. Proposed e-commerce law – third draft released, {{ vm.siteSelectorList.flyout.cell1.heading }}, {{ vm.siteSelectorList.flyout.cell1.global.countryLocale }}, {{ vm.flyout.cell1.viewAll.newTabAllow }}. A public consultation was held last year. Tags:e-commerce south east Asia e-commerce thailand e-commerce thailand GDP 2020 growth rate thailand total retail sales. With travel restrictions enacted worldwide, tourism suffered a 92% shrinkage in eCommerce … Your email address will not be published. And despite the global buzz, e-commerce Salaries range from 54,800 THB (lowest) to 184,000 THB (highest).. Click anywhere on the bar, to resend verification email. You will not continue to receive KPMG subscriptions until you accept the changes. The discovery earlier this week prompted widespread criticism of Thailand’s e-commerce data protection system. You will not receive KPMG subscription messages until you agree to the new policy. The fastest-growing sector was food & personal care at +22%. In Thailand, many historic, general or specialized, brands and pure digital actors are already in place, but they all compete a strong leader. As of this writing, the total number of COVID 19 cases in Thailand appears to be stable. Learn to Lead: no one is born a great people manager, “Search Engine Marketing in the Mobile Age” ebook published, Sách điện tử “Những cơ bản về quảng cáo trực tuyến ở Việt Nam”, eBook: Vietnam Digital Marketing Fundamentals from Chandler Nguyen. All interested stakeholders can submit their comments on the third draft of the proposed VAT amendments through the TRD’s website. KPMG is also preparing a submission to the TRD to be provided before the 29 January 2020 deadline and welcomes your comments and feedback. Thailand and Southeast Asia’s one stop shop for ecommerce logistics and management is aCommerce. KPMG in Thailand Tax's newsletter which covers the latest issues in taxation and government announcements relating to tax matters. March 2020 48 pages E-commerce is expected to continue posting double-digit growth over the forecast period. We can see from the data that Thailand’s economy is expected to do much worse than the other ASEAN – 5 countries like Vietnam, Indonesia, the Philippines, and Malaysia. Where a foreign company provides services, receives the payment of service fees and delivers the services through an electronic platform, the electronic platform owner has an obligation to register for and pay VAT on behalf of all foreign companies that use its platform in the above manner. An electronic VAT registration system may be introduced but this will be further considered by the Minister of Finance. {{vm.newUser3}} The 11.11 campaign is such a popular event in Thailand that the Top 3 marketplaces, Lazada Shopee and JD Central, have set new records for 2020. E-Commerce Law in Thailand: Release of a Third Draft Mar 03, 2020 A third draft of the proposed tax legislative amendments on Value Added Tax (VAT) regulations has been issued by the Thai Revenue Department (TRD), and the most affected entities will be foreign companies and … The Revenue Department expects global e-commerce and digital platforms to agree to abide by Thailand’s new tax bill when it becomes law. Under this draft, the key VAT obligations of foreign companies providing electronic services to non-VAT registered recipients remain unchanged from the previously issued draft. In this all conference alert there are many international Thailand 2020 conferences which cover all subjects or fields like, engineering, science, Information and Technology, Mechanic engineering, Health and science, business and management, economics and social science. This means that the foreign company will not be able to pass the VAT cost as tax to consumers. The key highlights in the third draft of the proposed VAT amendments are: - Any intangible assets transferred via internet network or any other electronic network will be excluded from the definition of “goods”. B2C & B2B e-commerce website businesses are the fastest-growing channel for brands in Thailand, Singapore, Hong Kong & Australia. Beauty. The Thai Revenue Department (“TRD”) has issued a third draft of the proposed tax legislative amendments on VAT regulations that will impact foreign e-commerce operators (“foreign companies”) and electronic platforms available to the Thai market. 92 E-commerce Jobs found in Thailand - November 2020. E-Commerce Manager salaries vary drastically based on experience, skills, gender, or location. Rural internet expansion to fuel Thailand’s e-commerce growth . Priceza เผยภาพรวม “Thailand E-commerce” ปี 2020 คาดเติบโต 35% มูลค่าแตะ 2.2 แสนล้าน Business , E-Commerce , Highlight priceza , Thailand e-commerce landscape Writer: Sarun Roj June 10, 2020 June 10, 2020 The registered foreign company will have an obligation to remit output VAT to the TRD, however, no input VAT offset is allowed. This forecast is much worse than the Apr forecast of negative 1%, due to COVID 19 impact. A person working as an E-Commerce Marketing Analyst in Thailand typically earns around 117,000 THB per month. - “Electronic service” means a service delivered through internet network or any other electronic network with substantially automated nature and such service cannot be provided without information technology; and. {{vm.newUser4}}. Thailand E-commerce Landscape รวมธุรกิจในตลาด E-commerce ไทยแบบเจาะลึกปี 2020 มิถุนายน 10, 2020 | By Techsauce Team This is the average monthly salary including housing, transport, and other benefits. Register now and set up your personalized dashboard around {tag_name} and all the other topics that interest you. A foreign company who has registered for Thai VAT for providing electronic services outside of Thailand and where such services are used in Thailand by a non-VAT registered person is prohibited from issuing Thai tax invoices. aCommerce. The digital minister has asked experts to help plug gaps in e-commerce security after netizens discovered personal data from more than 13 million accounts up for sale on an underground website. Although the third draft of the proposed VAT amendments provides some clarity on issues previously not addressed, further clarifications and guidance are required on various uncertain aspects as well as practical implications. E-commerce market The e-commerce market in Southeast Asia is one of the fastest-growing and most promising, projected to grow to $11 billion in 2025. With numerous government-led initiatives to boost electronic payments, cash transactions in Thailand are expected to fall from the current 90 percent to 50 percent by mid-2020, according to the US Department of Commerce’s International Trade Administration 4 (ITA). All rights reserved. Top 10 e-commerce websites in Thailand. The terms “goods”, “electronic services” and “electronic platforms” have been clarified, specifically: The self-assessed VAT provision will be amended to explicitly state that (1) a Thai VAT registered person who pays a service fee to a foreign company providing electronic services is required to self-assess VAT on such service fee and remit VAT to the TRD, and (2) the said foreign company is not required to register for VAT in Thailand. The measure, from the Thai Revenue Department, is to be represented to parliament in September. We want to ensure that you are kept up to date with any changes and as such would ask that you take a moment to review the changes. While the absolute value of the total retail market in Thailand is comparable to Indonesia and higher than Vietnam, Thailand’s population is only about 70M vs 264M for Indonesia, 97M for Vietnam. Get the latest KPMG thought leadership directly to your individual personalized dashboard. In 2017, Thailand’s middle class and affluent consumers 16 made up 60 per cent of the country’s population. Dublin, Feb. 19, 2020 (GLOBE NEWSWIRE) -- The "Thailand B2C E-Commerce Market 2019" report has been added to ResearchAndMarkets.com's offering.. … To recap. The Thai Revenue Department (“TRD”) has issued a third draft of the proposed tax legislative amendments on VAT regulations that will impact foreign e-commerce operators (“foreign companies”) and electronic platforms available to the Thai market. Nov 2020 During the pandemic, Thailand has seen a huge surge in sales through e-commerce channels throughout most areas, as well as a boost in off-trade food and beverage consumption as businesses and horeca establishments closed and consumers continue to... US$2,100 To date, the e-commerce boom has so far favoured the travel sector, as well as apparel and electronics retailers. Find out how KPMG's expertise can help you and your company. Whilst the second draft of the proposed VAT amendments provided that the amendments will be effective 180 days after it is published in the Royal Gazette, this third draft states that the effective date will be the day after the law is published in the Royal Gazette. 22 Several factors will influence the pace of e-commerce expansion. At this stage, it is unclear when the proposed VAT amendments will be enacted and published in the Royal Gazette following the completion of the public hearing process. Given that we are going through a global pandemic, before we talk about e-commerce, I think it is important to understand the overall Thailand economy and how it is doing. Online job search with Joblum In the next few years, Thailand’s retail sales growth rate is expected to be lower than India, the Philippines, Vietnam, China, and many other countries. 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