- 7% VAT to be imposed on imported goods valued from one baht up starting in May
- Goods sold for less than 1,500 baht per parcel currently exempt from VAT
- Legislation on VAT collection expected to be completed by May
- VAT collection to ensure fairness for small businesses in Thailand
- New measure expected to improve competitiveness of local SMEs
- Chinese goods flooding into Thailand through e-commerce platforms
- Majority of popular products priced below 1,500 baht are mobile accessories, gadgets, power banks, clothes, and utility products
- Collection of VAT on these goods should reduce trade deficit with China
Source: bangkokpost.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
Latest Posts in "Thailand"
- Key VAT Rules for Influencers in Thailand: Registration, Filing, and Compliance Essentials
- Tax Guidance for Selling Obsolete Inventory Below Market Value in Thailand: Key Rules and Documentation
- Government Dismisses Rumors of VAT Increase, Affirms No Plans to Raise Tax Rate
- Thailand’s VAT Hike: A Shift from Low-Cost Image to Value-Driven Economic Confidence
- Senate Panel Proposes VAT Hike to 10% to Address Rising Public Debt in Thailand
