Thai call for phase-out of import duty on luxury fashion goods

[belg]

come on, will it not kill the pirate goods industry so many thai people rely on

 

5555

[thailiketoo]

build it and they will come (the malls...and the didn't come) ..........reduce tax and they will come

 

The mall has a retail podium of 200,000 m² on 7 floors. It houses more than 370 retail shops, 5 anchors including an entertainment complex, a 5 floor Central Department Store and has direct access to a 302 room hotel, the Hilton Pattaya. Central Festival Pattaya Beach opens from 11.00 to 23.00 everyday.

 

They came and came and are still coming.  Where you been? 

 

Or.

 

Central Embassy is Bangkok’s first ever ultra-luxury lifestyle mall, boasting an impressive collection of high-end designer stores, fine-dining restaurants, swanky cinema screens, and an extravagant six-star hotel. Built on the grounds of the former British Embassy – hence the name – this 18 billion baht mega-mall projects the capital’s status even further as one of the world’s leading shopping destinations.
 

[Bpuumike]

Why would tourists want to come here shopping for items which, due to tax, cost more than in their home countries. Of course, they flock here to buy pirated copies of the same brands.

[Ricardo]

Wouldn't this proposal risk destroying Thailand's existing status as a Hub of Counterfeit luxury-fashion-goods ?

[Suriya4]

This will allow poor farmers to have a taste of luxury as well. Nothing wrong with this demand.

[Krataiboy]

QUOTE FROM BALANCE: "Minimum wage of 300B per day regardless of location had NEGATIVE BENEFIT for the poorest of the poor". 

 

And your evidence for asserting this is what exactly? Apart from any other consideration, from what I have read, the minimum wage has not been applied universally here.

 

 

[KhnomKhnom]

Only one real reason for import duty charges.......

To protect a domestic industry that makes the same thing that is wanted to be imported.

 

Other reason is to grab money for the government.

[VocalNeal]

Only one real reason for import duty charges.......

 

 Is that most Thais don't pay tax and the ones that do.. well... 

 

So the government gets it's unpaid income tax when people by 'luxury" goods like expensive imported cars etc.. 

 

It is not a mystery.

 

 

 

Such a move would raise Thailand's competitiveness against other major shopping destinations in the region, especially Singapore and Hong Kong,

 

Recently had an old friend from Sing. visiting . His family went shopping here Mega Mall, Isetan because the said it was better than in Sing. Already

[american12bthai]

30%? Big deal. How about the 430% tax on wine that makes a $3 bottle of cheap Italian wine $20 here?

 

or how about THAIBEV monopoly on imported drinks. 

Why wont they let me brew my own beer?  why do i have to spend 100-150b on a coke at a club? WHY DO THAIS MIX 30 yo scotch with coke!!!! WHYYYYYYY!!!

[Emster23]

At last someone stands up for the oppressed rich hiso crowd. Neglected by the press, barely have any notice in politics. See some of that waif like group dragging 2 year old tattered Gucci bags around from salon to salon, such a beaten down cowed look on their botoxed faces. But seriously folks, reduce taxes on items like defibrillators as they are not "luxuries" but more like necessities in medical industry as mentioned. 

[Halion]

One of the few smart initiatives I have seen in this country for a long time. In the past such goods have only been in the domain of the wealthy which is a small market. Foreigners;tourists will buy in duty free regions and therefore by reducing the tax in Thailand they will increase the potential of their domestic market by bringing such items within the reach of everyday people as well as making it a more attractive purchase for tourists.

[Unwisemonkey]

Low taxes are much better stimulant to the economy than quantitative easing.  But I'd tend to agree with the other TV members.  This is for the HiSo's and doesn't make much a difference.  The international market of shopping tourism is a strawman argument.  That is such a minority market it will do little to any good at all.  They'd be much better off taking the 200% duty off of food and beverage thus allowing Thai's to indulge in foreign foods as well as the expat community.  Consumable food and beverage items are bought with regular frequency and that adds up.  Thai strawberries are crap, but they would go nicely with a nice camembert sweet cheese, ever day.  For breakfast and lunch.

[Unwisemonkey]

Low taxes are much better stimulant to the economy than quantitative easing.  But I'd tend to agree with the other TV members.  This is for the HiSo's and doesn't make much a difference.  The international market of shopping tourism is a strawman argument.  That is such a minority market it will do little to any good at all.  They'd be much better off taking the 200% duty off of food and beverage thus allowing Thai's to indulge in foreign foods as well as the expat community.  Consumable food and beverage items are bought with regular frequency and that adds up.  Thai strawberries are crap, but they would go nicely with a nice camembert sweet cheese, ever day.  For breakfast and lunch.

[thhMan]

Let those who want and can afford luxury fashion goods pay the tax.

 

There would be a possibility some from other countries would come here to buy such things and increase the profits for the high end malls.

 

But profit has nothing to do with it all we want to do is help the country. right on.

 

But the Tax is not used for what its intended....
 

[crobe]

 

How about eliminating the immoral and regressive VAT tax on food first.  The level of greed among the rich and those who serve the rich in all countries is truly amazing. 

For those who want to bring morality into the argument, please first take an economics lesson. 

 

1) Minimum wage of 300B per day regardless of location had NEGATIVE BENEFIT for the poorest of the poor. The only way to improve the poor is to improve their productivity, commonly done with education. Learn a bit about inflation before you make moral arguments.

 

2) Tax policy. Again Economics 101. Price increases, demand decreases. How much decrease in demand per unit of increase is called "elasticity". Luxury goods by definition are highly elastic. When governments tax highly elastic products, the result is net negative benefit to the country. The government must tax lower elastic items such as energy and cigarettes in order to produce a net benefit for the country.

 

So all in all, the reduction of tax on luxury goods is a good thing for Thailand, sans moral judgement or not. 

 

Why give the business to other countries that you can retain in Thailand?

 

 

 

Your knowledge of basic economics is truly abysmal - the high fashion industry is one of the most inelastic - which is why they can stick a designer label on a shirt that costs $10 to make, and retail it for over $200, ask my very dear friend Paul Smith.

 

And this is where your argument totally falls down, the extra 30% tax is not an issue for inelastic goods - it s all relative to the retail costs - however making a country an attractive place to shop does work - take Dubai as an example - people do not shop there just for the duty free as the price in the malls is in many cases higher than you can get in other parts of the world tax paid, but it is the shopping experience that they go for. 

[Guest]

 

I thought YL was no longer PM.

 

Reading THAIVisa posts is Show how many jalous guys running around not clever enough to make money for can buy LV, Rolex, Benz and so on... 

 

anyway..

and again and again there is actions taken only for the elites... or the rich. Those need a pondshop to can buy the schoolbooks for the Kids are

left in the mess as (nearly) always before.. 

 

Why they not give the full tax refund to the tourists when leave the country instead of let those benefit who dont Need ?! Have enough money

to buy LV, Hermes etc., should NOT been supported by the government with tax money - the poor should get a benefit!

 

Dear Hardy99

Apologies if your native tongue is not English or you have never studied it.  For example, my Thai is simply awful ... and since I know that ... do not attempt to express any complex concepts in it.

However, should you claim any skill in English, please consider this to be a stop and desist order.

In short, your posting is "Word Salad"