Thailand Considering New Tax on Online Foreign Companies

                Thailand is examing a new law that would require all foreign businesses with no physical presence in the country to report all their transactions to their government to determine if they should pay value added tax (VAT), which currently stands at 7%. As of now, foreign companies can skirt Thailand's VAT as long as they maintain a purely digital presence in the country. The Thai Department of Revenue's new tax … [Read more...]

Supreme Court Rules that States Can Tax Internet Sales

The U.S. Supreme Court ruled in a 5-4 decision last week that state governments are constitutionally allowed to tax internet sales, even if the business has no property or employees in the state.. The decision, which overturns prior rulings that requires a company to have a physical presence in the state before being subjected to taxes, paves the way for all 50 states to implement new taxes on goods and services sold on the internet. As of right now, 31 states already have laws on the … [Read more...]