Business entrepreneurs urged to install EDC to get tax privileges

The Department of Business Development (DBD) has urged entrepreneurs to install an electronic data capture (EDC) machine in order to be entitled to tax privileges, according to the National News Bureau of Thailand (NNT).
NNT reported that the DBD Director-General Banjongjitt Angsusingh has 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.

In this regard, 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 for them while they will 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.