Electronic card readers for all companies

On 22 December 2016, the Council of Ministers passed a resolution on regulating e-payment in Thailand called the National E-payment Master Plan. In this regard, the Department of Business Development (DBD) issued Order No. 3 on Accounting and Accountant Responsibility, 2560 B.E., on 4 April 2017.

Keywords: Mazars, Thailand, Legal, DBD, Electronic card readers

21 September 2017

The order applies to all legal entities in Thailand, and states that they must have an electronic card reader in their offices. Companies must report to the DBD within 15 days of acquiring a card reader.

Companies must contact an official service provider or bank listed in the Order to request a card reader and operating system. The companies will receive certain benefits, such as the waiver of an installation fee, a low rate of bank fees, and corporate tax exemptions. Companies which already had a card reader before the Order was issued can contact the provider to obtain these same benefits.

Please note that no penalty will be imposed for failing to comply with this Order.

For more information, please visit the DBD website.