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Sunday, May 5, 2024

VAT refunds surge after reopening

Foreign tourists queue for VAT refunds at Suvarnabhumi airport. This year the Revenue Department estimates VAT refunds should increase as tourism arrivals rise. (File photo)

Tourist tax refunds have skyrocketed since Thailand fully reopened in June last year, according to Revenue Department director-general Lavaron Sangsnit.

Mr Lavaron said foreign visitor numbers jumped after the reopening, reflected by a large increase in value-added tax (VAT) refund totals. In 2022, the department refunded VAT to more than 423,000 tourists with a total value of 1.2 billion baht.

From January to May 2022, there were 55,700 refunds amounting to 204 million baht. However, refunds from June to December increased to 367,000, amounting to almost 1…

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