Duty reduction sought on imports from outside Afta

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TAX
Duty reduction sought on imports from outside Afta
The Nation


Rakop Srisupaat

BANGKOK: -- The Customs Department will propose duty reductions on products imported from outside the Asean Free Trade Area (Atfa) to the National Council for Peace and Order (NCPO).

The department will ask the Security Council to reduce the import duty on products from outside Afta from the highest level of 80 per cent to below 20 per cent in order to increase the competitiveness of Thai business operators.

Meanwhile, the Revenue Department earlier proposed to the NCPO an extension for a further year of value-added tax at the reduced rate of 7 per cent, and an extension of the highest level of personal income tax at 35 per cent for a similar period.

The revenue agency also proposed maintaining the corporate income tax rate at 20 per cent permanently.

Thailand imports around 8,000 products from outside the region and, under the current Afta agreement, importers within Asean pay zero import duty for importing machinery for capital goods, 1 per cent for raw materials, 5 per cent for partially manufactured products, 10 per cent for manufactured products, and 20 per cent for protected products.

"In the future, Thailand will become the gateway to Asean from the North to the South, and from Isaan to the West, and in order to prepare for the increase of exports and imports under the Asean Economic Community, it is crucial to upgrade the country's customs system to match its economic strategy," said Rakop Srisupaat, director-general of the Customs Department.

Rakop said the department had requested a Bt633-million investment budget in fiscal 2015 to build 33 new ports of entry around the Kingdom.

The ports project is already under way, but the department still requires equipment such as portable and fixed x-ray machines.

It has discussed the possibility of getting a loan to buy such equipment with the Public Debt Management Office, he said.

-- The Nation 2014-06-11

[chooka]

What about the 350% for vehicles

[zaphod reborn]

This is a start, but just the tip of the iceberg. Rewriting the vague regs to eliminate the opportunity for corruption should be the top priority. I don't have a problem with the import tariffs on cars, because they have been successful in fostering auto factory building and employment in Thailand. The expats moved here voluntarily, and need to abandon their desire for imported luxury vehicles

Sent from my GT-N7100 using Thaivisa Connect Thailand mobile app

[chooka]

This is a start, but just the tip of the iceberg. Rewriting the vague regs to eliminate the opportunity for corruption should be the top priority. I don't have a problem with the import tariffs on cars, because they have been successful in fostering auto factory building and employment in Thailand. The expats moved here voluntarily, and need to abandon their desire for imported luxury vehicles

Sent from my GT-N7100 using Thaivisa Connect Thailand mobile app

I see a far greater number of Thais driving around in imported luxury vehicles than expats so I think their desire and impact on local manufacturing would be greater than a handful of farangs. I was going to bring my holden commodore over but the taxes were going to be like buying it again and it is not a luxury vehicle just your modest average family car in Aust.

[kuiburi]

Good to hear that want to reduce the high import duty's , I would love to import and introduce European materials that can't be found in Thailand .

But it's not only the high import duty's only that scare me off .

It's mainly the fact that the customs department got u by the balls over ur effort and investment and can charge anything they like to get ur stuff

cleared .

[Doc46]

This is a start, but just the tip of the iceberg. Rewriting the vague regs to eliminate the opportunity for corruption should be the top priority. I don't have a problem with the import tariffs on cars, because they have been successful in fostering auto factory building and employment in Thailand. The expats moved here voluntarily, and need to abandon their desire for imported luxury vehicles

Sent from my GT-N7100 using Thaivisa Connect Thailand mobile app

Import tax eh,,,what about the local Thai rip off Example Ford and Mitsubishi small cars built here in Thailand are more expensive to buy than the ones you can buy in Australia ,built in Australia.The same cars built in Thailand should be a lot cheaper not dearer (cheap labour?????) WHO Pockets the difference

[thumper101]

I laugh at the way they charge 20% for 'protected' products versus 10% for standard products...... then completely ignore the protection, and freely allow counterfeit, forged and cloned products for sale on the street and even in Malls.

[Seastallion]

Does this mean I can get cheese at a reasonable price now? YAY!

[Thai at Heart]

First question is "Why?".

What sparked this idea? How are they gojng to make up the revenue shortfall?

[ginjag]

Does this mean I can get cheese at a reasonable price now? YAY!

Cheaper to buy a cow or a couple of goats, and make your own.

I had goats in the UK and sold the milk to doctors--and made cheese --get your Mrs busy, tell her she can be milk maid manager Thai love this position.

[ginjag]

First question is "Why?".

What sparked this idea? How are they gojng to make up the revenue shortfall?

Maybe now it will be easier, have monies going into the treasury rather than by passing it.

[Thai at Heart]

First question is "Why?".

What sparked this idea? How are they gojng to make up the revenue shortfall?

Maybe now it will be easier, have monies going into the treasury rather than by passing it.

Hardly. U think all of a sudden the whole of Thailand started paying their taxes?

[ratcatcher]

First question is "Why?".

What sparked this idea? How are they gojng to make up the revenue shortfall?

Maybe now it will be easier, have monies going into the treasury rather than by passing it.

Hardly. U think all of a sudden the whole of Thailand started paying their taxes?

No, I think , maybe, ginjag means revenue will go into the treasury rather than politician's bank accounts.

[Thai at Heart]

First question is "Why?".

What sparked this idea? How are they gojng to make up the revenue shortfall?

Maybe now it will be easier, have monies going into the treasury rather than by passing it.

Hardly. U think all of a sudden the whole of Thailand started paying their taxes?

No, I think , maybe, ginjag means revenue will go into the treasury rather than politician's bank accounts.

Yeah right. Just wait for it, the army will probably have finished their wish list by now.

I am all for cutting taxes, but when things like this happen there is always a reason that goes beyond the public interest. Always.

[ratcatcher]

Hardly. U think all of a sudden the whole of Thailand started paying their taxes?

No, I think , maybe, ginjag means revenue will go into the treasury rather than politician's bank accounts.

Yeah right. Just wait for it, the army will probably have finished their wish list by now.

I am all for cutting taxes, but when things like this happen there is always a reason that goes beyond the public interest. Always.

Oh, you old cynic, you!

[ginjag]

No, I think , maybe, ginjag means revenue will go into the treasury rather than politician's bank accounts.

Yeah right. Just wait for it, the army will probably have finished their wish list by now.

I am all for cutting taxes, but when things like this happen there is always a reason that goes beyond the public interest. Always.

Oh, you old cynic, you!

Think TaH is avoiding the in your face reply from me as it was glaringly obvious what I meant surely, but if not sorry. I am convinced monies will now be more available and accounts kept from now. Unlike before.

[tomyummer]

First question is "Why?".

What sparked this idea? How are they gojng to make up the revenue shortfall?

They may infact reap more through volume now if the rates are reduced.

They should reduce it on luxury goods and alcohol. Let travellers think they have a better deal buying within Thailand (as a shopping haven) then you can also boost tourism. Locals will even buy within the country rather than buying from abroad.

Edited June 12, 2014 by tomyummer

[tomyummer]

When Spam costs less than a steak, I'll consider it successful.

[Seastallion]

When Spam costs less than a steak, I'll consider it successful.

Who on earth would choose spam over steak, even if it was a tenth the price of steak?

[tomyummer]

When Spam costs less than a steak, I'll consider it successful.

Who on earth would choose spam over steak, even if it was a tenth the price of steak?

The fact that it's on the shelves at 250 baht per can means someone is buying the mystery meat. And comparing the crappy beef in Thailand it could be a substitute if at 1/10 the price.

[mania]

First question is "Why?".

What sparked this idea? How are they gojng to make up the revenue shortfall?

Why?

"in order to increase the competitiveness of Thai business operators."

By allowing 1000's of products that consumers of all nationalities would like to buy

into Thailand at a fair price they would more than make up for the unfair import tariffs now charged

Because they will get 7% VAT on all products ultimately sold. All these products do not come now

because the majority would not pay the 2x or more than normal/fair price for them.

The revenue shortfall you speak of is in reality much smaller than the loss of sales & the resulting

loss of VAT paid to them that is now the reality

Lastly when free trade is allowed it opens many opportunities for Thai workers & business owners.

Many products require service,support,parts etc etc etc