Thailand Extends E-Stamp Duty Grace Period

In 2019, Thailand introduced an online system for payment of stamp duty (e-Stamp Duty) and a requirement for e-Stamp Duty to be paid on the following five instruments when executed electronically (e-Instruments):

• hire of work service instrument;
• loan instrument or bank overdraft instrument;
• powers of attorney (POA);
• proxy letters for voting at company meetings; and
• guarantee instrument.

However, given the strict financial penalties on those who fail to pay stamp duty, the government implemented a grace period until December 31, 2020, to allow people to become familiar with the e-Stamp Duty system before the requirement is strictly enforced. During the grace period, taxpayers could pay stamp duty for the five e-Instruments at an area revenue office, rather than via the e-Stamp Duty system, and could also pay stamp duty for traditional paper versions of those five instruments through the e-Stamp Duty system.