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Monday, April 29, 2024

Govt considers cutting tax on luxury products to boost tourism and spending

The source said the idea was discussed during a recent meeting of ministry executives and representatives from the Federation of Thai Industries, the Thai Chamber of Commerce, Board of Trade, and the Thai Retailers Association to find measures to boost tourism and related industries. The session was chaired by Deputy Finance Minister Julapun Amornvivat.

Phaophum Rojanasakul, secretary to the finance minister, reportedly said that the meeting was the first in a series to formulate measures to stimulate tourism and shopping, with focus on high-income foreign arrivals. He expected these measures to be implemented in time for the upcoming high season (November – March).

Phaophum added that the Finance Ministry had tasked the Customs and Excise departments to study tax measures that could help attract high-spending foreign tourists, notably by decreasing or exempting from the luxury…

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