Hoarding prevalent ahead of new alcohol, tobacco excise tax

[snoop1130]

Hoarding prevalent ahead of new alcohol, tobacco excise tax

 

 

As the new tax rates that will see higher prices for alcoholic beverages and cigarettes are going to be effective tomorrow (Sept 16 ), shortfalls of the two demerit goods are now reported with wholesalers and distributing agents started hoarding.

 

Several retailers said they were rejected sales from agents during the past few days ahead of  Sept 16 when the new excise tax law will take effect.

Consumers also complained they could hardly buy the two goods at old prices.

 

Hoarding prevails the market although commerce and excise officials has made joint inspections of the goods in the markets to make sure there is no profiteering or no hoarding.

 

The Commerce Ministry and the Finance Ministry yesterday (Sept 14) deployed officials to inspect shops and markets to prevent traders from hoarding alcoholic drinks, cigarettes for making profits when the new tax rate comes into effect.

 

Anyone who refuses to sell these products or hoards them to fetch higher prices will face a legal action under the Goods and Service Act, punishable by a maximum seven years in jail and/or a maximum fine of 140,000 baht, according to Deputy Commerce Minister Sonthirat Sonthi-Jirawong.

 

Full Story: http://englishnews.thaipbs.or.th/hoarding-prevalent-ahead-new-alcohol-tobacco-excise-tax/

 

-- © Copyright Thai PBS 2017-9-15

[ezflip]

https://www.thaivisa.com/forum/topic/1002428-tax-increased-for-cigarettes-and-alcohol-from-saturday-sept-16/

 

I am going to go hoard all the playing cards from BigC.

[Ltcolumbo]

Be advised that price increase's are scheduled to take effect in November.

Edited September 15, 2017 by Ltcolumbo

[MarkusAUST]

20% tax for a pack of cigarette that is being sold below 60 baht and 40% tax for above.

This new taxation aims to lower the gap of low-priced cigarette and high-priced cigarette.

 

And how exactly does it do that? 20% on a 50 baht pack is an extra 10 baht. 40% on a 130 Baht pack is an extra 52 Baht. That widens the gap. A lot! I sometimes wonder if anyone in this country has the first clue about maths and economics, and they continually come up with utter crap to justify stupid decisions that have no logical basis whatsoever! Amazing Thailand!

[Laughing Gravy]

Well it a good job we have the AEAN economic agreement allowing the free trade of goods! Although I don't see beer from these ASEAN countries allowed here. Is that because they taste better, cheaper and far superior? Maybe there is a mafia conglomerate that controls the government, media and general public. I would love a real taste test with people tasting beer across the ASEAN countries. Thai beer would be used as swill and for cleaning the toilet, on a good day.

[Bluespunk]

6 hours ago, snoop1130 said:

Anyone who refuses to sell these products or hoards them to fetch higher prices will face a legal action

Why?

 

If the trader doesn't want to sell, that's their concern. 

[Spaniel]

Just for the sake of comparison a pack of Marlboro cigs is 13 dollars in New York city.

[mtls2005]

13 hours ago, Ltcolumbo said:

Be advised that price increase's are scheduled to take effect in November.

 

Can you share any details on this effectivity date?

 

7 hours ago, Spaniel said:

Just for the sake of comparison a pack of Marlboro cigs is 13 dollars in New York city.

 

And just about $5 (~ 165 THB) per pack in southern states like NC, although unclear on the relevance?

[yellowboat]

11 hours ago, MarkusAUST said:

I sometimes wonder if anyone in this country has the first clue about maths and economics

Rice scheme, submarines, airships, immigration crackdowns, the coup, the crackdown of foreign labor vital to economy, the ridding Phuket of low price tours, the botched handling of the zero dollar tours.  Stop wondering.  No studies are performed prior to making these or other decisions.  It is just shooting from the hip.  Economic principles are superseded by mysticism and local wisdom.  The outside world's logic does not apply in Thailand. 

Edited September 16, 2017 by yellowboat

[LoZth]

I usually get a packet of 200 at a time but when I went for a carton yesterday my local 7 wouldn't sell me one.

 

I was told they could only sell me two packets of 20 not 200.

 

 

[Prairieboy]

14 hours ago, Ltcolumbo said:

Be advised that price increase's are scheduled to take effect in November.

Where does this information come from?

[dinsdale]

15 hours ago, snoop1130 said:

wholesalers and distributing agents started hoarding.

Buy at old price, sell at new.

[Dave67]

Some people are going to be quite upset about the new Tax laws

Edited September 16, 2017 by Dave67

[dinsdale]

14 hours ago, Ltcolumbo said:

 

Be advised that price increase's are scheduled to take effect in November.

 

??????????????????????

15 hours ago, snoop1130 said:

 Sept 16 when the new excise tax law will take effect.

Where do you get November from? A rubbish post not only unsupported but completely ignores official announcements.

[RichardColeman]

Oh well, if probable early death from smoking is not enough to get you to stop, maybe a price rise will. Though I doubt it.

[Jonnapat]

Why announce this decision so far in advance? In the UK the price rises take effect the day after the budget decision, sometimes later on the same day. This allows no chance of hoarding, but these people would never think of something so simple, just make problems for themselves.

[DrPhibes]

Big C in Chiang Mai was restricting sales to 3 bottles at a time.  I'd call that restrictive hoarding.

[joskeshake]

the mini busdrivers for go visarun to Cambodia gonna have some good bussiness.

 

[Travel2003]

12 hours ago, Spaniel said:

Just for the sake of comparison a pack of Marlboro cigs is 13 dollars in New York city.

And the average salary difference between USA and LOS is??

[Moti24]

"Hoarding prevails the market although commerce and excise officials has made joint inspections of the goods in the markets to make sure there is no profiteering or no hoarding."

 

They couldn't have inspected too hard.  My local wholesaler makes a fortune on every price rise, according to my soi shop.  Just another scam for the rich to get richer and the lower classes to lose out financially.

 

I might make a trip to the wholesaler later to buy a box of Leo, depending on the price; I don't need it that much.  The owner won't be happy when I tell him that 7/11 is cheaper, and walk off.

[Get Real]

As I always say. Tax or no tax. if one can´t afford to drink and smoke, just stop and it will also benefit your health. Cheers! Just going for another one.