New lists of E-instruments are introduced to require payment to be paid via the E-stamp Duty System


 

          The E-Stamp duty system allows taxpayers to file Form Or.Sor.9 and pay stamp duty before or within 15 days from the date of execution of any of instruments.

          Originally, there were five electronic instruments requiring a stamp duty to be paid via an electronic method which are as follows:

  • Hire of work or service instruments;
  • Loan instruments or bank overdraft instruments;
  • Power of Attorney (POA);
  • Proxy for voting at a company meeting; and
  • Guarantee instruments

          However, on 31 August 2021, the Revenue Department issued the Notification of the Director-General of the Revenue Department on Stamp Duty (No. 63) replacing the Notification (No.58) which introduced new lists of instruments that are executed in electronic format and stamp duty shall be paid via the E-Stamp Duty system. This notification shall apply to electronic instruments executed from the day following the date of its publication in the Government Gazette which is 1 September 2021.

The new lists of e-instruments are as follows:

  • Rental of land, building, other structures or floating house instruments;
  • Instruments of transfer of share, debenture, bond and certificate of debt issued by any company, association, body of persons or organization;
  • Hire-purchase of property instruments;
  • Hire of work instruments;
  • Loan instruments or bank overdraft instruments;
  • Insurance policy;
  • Power of attorney (POA);
  • Proxy for voting at a company meeting;
  • Bill of exchange or similar instrument used like bill of exchange for each bill or instrument, and promissory note or similar instrument used like promissory note
  • Bill of lading;
  • Share or debenture certificate, or certificate of debt issued by any company, association, body of persons or organization, and bond of any government sold in Thailand;
  • Cheque or any written order used in lieu of cheque;
  • Letter of credit;
  • Traveler’s cheque;
  • Goods’ receipt;
  • Guarantee instruments;
  • Pawnbroking instruments;
  • Warehouse receipt;
  • Delivery order;
  • Agent instruments;
  • Partnership contract; and
  • Receipt issued in connection with a sale, sale with right of redemption, hire-purchase or transfer of ownership in a vehicle, only if the vehicle is registered under the law governing such vehicle.

 

Legal Insight Vol. October 2021 of Bangkok Global Law 

The PDF file can be downloaded via the link as set below. 

New lists of E-instruments are introduced to require payment to be paid via the E-stamp Duty System_Bangkok Global Law

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