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SCB waives fees for e-Withholding Tax service
Nov 13. 2020

By The Nation
Siam Commercial Bank (SCB) is supporting adoption of the Revenue Department’s new e-Withholding Tax system for businesses by waiving its e-Withholding Tax service fees next year for businesses who apply between now and March 31, 2021.
The e-Withholding Tax system is designed to boost convenience and cut costs of the tax withholding process for businesses.
The new online process will also help eliminate operational errors that are part and parcel of paper-based processes while increasing transparency and efficiency.
SCB will act as an intermediary for the Revenue Department by deducting withholding tax on behalf of businesses, helping them to reduce or eliminate time-consuming preparation of documents needed for paper tax filing.
The Revenue Department introduced the e-witholding tax system earlier this year in partnership with 11 banks. The 11 participating banks are SCB, Krungthai, Kasikornbank, the Bank for Agricultural and Agricultural Cooperatives, Bangkok Bank, Mizuho Bank (Bangkok branch), Krungsri, Sumitomo Mitsui Banking Corporation, Standard Chartered (Thai), TMB and the Land and Houses Bank.