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Thailand Starts Collecting VAT on Cheap Imported Goods

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Thailand’s Finance Ministry will begin collecting value-added tax (VAT) on all imported goods, including those priced below 1,500 baht. The ruling is effective from 5 July until the end of the year, according to the Royal Gazette.

The reason for collecting VAT on imported goods priced from 1 – 1,500 baht is the government’s policy to address unfair competition from cheap imported consumer goods, which are not currently subject to VAT.

Thailand must also abide by international agreements that set minimum values for each imported item to ensure customs duty collection is worthwhile.

Read the original story HERE.

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