32.9 C
Bangkok
Saturday, May 4, 2024

Cheap, low-quality goods flooding Thai market due to duty exemption: private sector

Lavaron Sangsnit, Finance Ministry permanent secretary, said on Monday that the ministry was also planning to meet the Customs and Excise departments and relevant agencies to discuss “tax-free” for goods purchased and brought into the country.

Currently, goods not exceeding 1,500 baht in value, including packaging, transportation and insurance costs, are exempt from duties and 7% value-added tax (VAT).

However, the private sector has raised concerns about the influx of tax-free imported goods, notably from China, undercutting domestic products and posing challenges for local retailers.

Most of these imports, while cheaper, are of inferior quality and lack proper certification, raising issues of intellectual property infringement.

Read more…

Latest Articles