Thailand drops luxury tax to entice big spending shoppers

[hanno]

From Travel Daily:

Thailand is dropping the tax shoppers pay on luxury goods in a bid to compete with retail hubs like Hong Kong and Singapore, it has been revealed.

US news website Bloomberg has said that the government’s decision to drop import duties on items including clothes, cosmetics and luxury watches is a direct bit to lure wealthy travellers from markets like China. The duty on some luxury goods could be cut from 30% to zero according to reports.

They quoted Somchai Sujjapongse, head of the finance ministry’s fiscal policy as saying: “We will do it fast because we want it to help boost the economy this year. Apart from buying luxury products,

they will also buy our local products. We also hope wealthy Thai people will buy luxury items in Thailand instead of flying to Europe to make purchases.”

[MrWorldwide]

Good news, at least on the face of it - will be interested to see if it flows through to the price of high-end audio in Thailand.

[sms747]

what goods are these, does it include wine?

[HeijoshinCool]

what goods are these, does it include wine?

No, of course not. It's a supposed relief to wealthy Thais, not us, so wine and cheese and mustard and marmite will still be a rip-off.

But if you want a real Rolex .....

[metisdead]

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Thai editorial: Tariff cut on luxury good sounds good for some

Lower tariffs on some luxury products

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