Providers of digital platforms are now required to register with the Electronic Transactions Development Agency (“ETDA”) and disclose company information annually.
Beware! Not only large corporations are subject to the obligation, but also all providers of digital platforms, including messenger services, trading platforms and even providers of maps applications with a monthly user base of 5,000 users or more. Natural persons with a profit of THB 1.8 million and legal entities with an annual turnover of THB 50 million are also affected by the reporting obligation.
The mandatory reporting includes information on business activities, financial data, the number of users and the reasons for complaints as well as the frequency of complaints from users. The authorities’ supervision is intended to ensure economic stability and user safety. Further regulatory measures are conceivable in the future.
Companies operating digital platforms in Thailand should check whether they fall under the Digital Platform Service Law and, if so, take the necessary steps. In any case, it is advisable to seek professional help – Sanet Legal provides support for you.