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Sunday, May 5, 2024

Retailers call for revision of tax on luxury goods

Mr Yol said import taxes on luxury goods should be reviewed so they are parallel to those in neighbouring countries. (Photo: Wisit Thamngern)

The new government is being urged to revise import taxes on luxury products to better align with neighbouring countries to attract foreign tourists while also strengthening Thai small and medium-sized enterprise (SME) brands to make them more competitive against the foreign brands prevailing in the country.

Yol Phokasub, president of Thai Retailers Association (TRA) and chief executive of Central Retail Corporation (CRC), said import taxes on luxury goods should be reviewed so…

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