- Growth of digital economy in Thailand led to surge in trade on foreign online platforms
- Flood of cheap Chinese products in local market disadvantage domestic entrepreneurs
- Finance Ministry cancels VAT exemption for low-priced goods to promote fairness
- Customs Department now collecting VAT for all imported goods sent via postal services
- Change expected to level playing field for local products and businesses
- New duties on lower-value goods may slow down importation process
- Some experts believe 7% VAT on Chinese goods may not deter influx due to lower production costs
- Need for additional measures to protect domestic producers, such as controlling standards of imported goods
- Implementation of VAT policy could impact bilateral relations between Thailand and China.
Source: thethaiger.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.
