January 8.
Buying wines in Thailand is going to get much cheaper, as the country is set to introudce a sweeping tax reform including completely removing import tariffs in an effort to boost the country’s tourism.
The country’s cabinent has passed a landmark decision to reduce taxes for alcoholic beverages including wine, local liquor and spirits to promote tourism, a significant contributor to the Thai economy, the government has announced earlier this month.
According to the government spokesperson, import tariffs on wines, which currently stands at 54% and 60% of declared value, will be abolished indefinitely. Additionally, the excise tax on wine will also be lowered from 10% to 5% of its price.
These tax cuts are expected to significantly reduce the cost of imported wines in Thailand, a country that has traditionally imposed an average tax of about 250% on wine, including import tariffs, excise tax, municipal tax, and a 7% VAT.
Not going to happen as many on here predicted.
ozz1
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Posted January 8
I'll believe it when i see it
Very true my friend. very true indeed.