Jump to content
reader

Thailand to impose VAT on all imported goods

Recommended Posts

Posted

From The Thaiger

Thailand’s Ministry of Finance announced the collection of value-added tax (VAT) on imported goods, which aims to address disparities between foreign and domestic sellers in terms of tax obligations, effective from July 5 to December 31, 2024.

The Royal Thai Government Gazette published the Ministry of Finance’s declaration today, June 24. The declaration focuses on customs duty exemptions for items valued at 1,500 baht or less, aiming to create a fairer marketplace for consumers.

The government’s policy seeks to resolve the unfair competition between foreign sellers, who are not subjected to VAT, and local sellers, who must pay this tax. This measure is also in line with international agreements that mandate a minimum value threshold for imported goods to justify customs duties.

 

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.



×
×
  • Create New...