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PM Prayut floats idea of raising VAT to 8%


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1 hour ago, fruitman said:

Just go to a big Tesco and see how agressive the AJ-sales are...I litterally had to push them away from my wife 3 times but they kept on running behind my back to yell to her.....we were there for a Panasonic portable radio though and my wife is too polite to tell them to p...off.

 

Made in Thailand stands for will work one hour (if lucky)....no service, no warranty...up to you.

Had the same thing in Powerbuy when buying a DVD player. He was pushing AJ on me and I told him I want Sony, Samsung, etc. It's not personal it's business. I buy brands with names that have proper warranties and won't break after a month. I don't care if it's from Thailand or North Korea. If it has a good name, I'll buy it. 

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1 minute ago, rkidlad said:

Had the same thing in Powerbuy when buying a DVD player. He was pushing AJ on me and I told him I want Sony, Samsung, etc. It's not personal it's business. I buy brands with names that have proper warranties and won't break after a month. I don't care if it's from Thailand or North Korea. If it has a good name, I'll buy it. 

 

I had a dvd-player from AJ once, a decade ago...half of the functions didn't work at all, the sound was bad and i was glad i could bring it back and pay extra to get a Panasonic which still is great.

 

Now i buy everything panasonic, i like it...and i won't talk to any sales anymore...they push the brand which gives them the biggest bonus. In Powerbuy they attack customers in groups of 10 salesguys sometimes and none of them speaks english...i'm done with that.

 

But the Thai baht is dropping and that will continu for a long while i guess. So i wonder how the prices of electronics will change, even with a higher VAT.

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2 hours ago, rkidlad said:

Exactly. A good reputation means people will come back (in a free market). A crappy reputation means you only sell because you're a monopoly (in an unfree market like Thailand)

 

a lot of companies here don't try or even aspire to be good because they don't need to be. Who suffers? The consumer. 

 

There is no monopoly on coffee makers in Thailand, the market is as free as most countries markets, trade tariffs being the norm worldwide, and even if they were not a 30% tariff does not make for a monopoly.  An example of Thai free trade being the fact that there will be no tariffs or duty as of this year on all Japanese imports, you can buy a Japanese coffee maker in the Thai, free from price fixing monopolies, market.

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4 minutes ago, SiamBeast said:

I'm not an expert of Thai finance, but one thing I know, if you are running out of money, raise the bloody import tax on vehicles. It will help alleviate congestion, bring more revenue, and allow me to drive in peace.

 

Import duty on vehicles is currently 200% of the value, it is already very high, the cars you see on the road are mostly made in Thailand so obviously no import duty there, it turns out you don't even know one thing!

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1 hour ago, worgeordie said:

This will send inflation soaring, well above the Government's supposed .98%,

as most shops  could not work out the extra 1%,and just add 8% on to the

prices,which already have 7% VAT on them, it happened last time they raised

the tax, inflation up, interest rates the same, not good.

regards worgeordie

 

That's ridiculous, the small shops pay the VAT when they collect their goods from the supplier and just charge their profit on top, the big shops, who are VAT registered, really should be able to add 1% on top, it would just be a modification to their database.

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Allow me to correct myself: The "tax" on vehicles. Meaning, make it more expensive to own a car. Not just talking about importing stuff, because it is true that imported cars make a not-so-big percentage of current cars on the roads.

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25 minutes ago, Shawn0000 said:

 

There is no monopoly on coffee makers in Thailand, the market is as free as most countries markets, trade tariffs being the norm worldwide, and even if they were not a 30% tariff does not make for a monopoly.  An example of Thai free trade being the fact that there will be no tariffs or duty as of this year on all Japanese imports, you can buy a Japanese coffee maker in the Thai, free from price fixing monopolies, market.

Okay, if you say so. 

 

None of this helps me find a decent coffee maker at a good price. Which is the whole point of my original post. 

 

I'll have a look for a local coffee maker which is 30% less in price and is of the same standard and quality as an imported one. Simples. Cheers. 

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28 minutes ago, Shawn0000 said:

 

That's ridiculous, the small shops pay the VAT when they collect their goods from the supplier and just charge their profit on top, the big shops, who are VAT registered, really should be able to add 1% on top, it would just be a modification to their database.

Just wait and see,they always take opportunities like that to increase  prices more than they should , This been Thailand lots of riduculous things happen everyday.

regards worgeordie

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29 minutes ago, SiamBeast said:

Allow me to correct myself: The "tax" on vehicles. Meaning, make it more expensive to own a car. Not just talking about importing stuff, because it is true that imported cars make a not-so-big percentage of current cars on the roads.

 

I think the revenue from the new car industry is quite important, probably more important that your problem with congestion.

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21 minutes ago, rkidlad said:

Okay, if you say so. 

 

None of this helps me find a decent coffee maker at a good price. Which is the whole point of my original post. 

 

I'll have a look for a local coffee maker which is 30% less in price and is of the same standard and quality as an imported one. Simples. Cheers. 

 

What, even my telling you about the free trade agreement with Japan doesn't help you?

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16 minutes ago, tukkytuktuk said:

Is it me or does PM Prayuth look a bit like Tommy Lee Jones the hollywood actor and superstar?

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tukkytuktuk - If you don't caption your photographs, how do we know which one is our beloved PM?

 

I'm guessing that the actor is the one with the dyed hair and "Bond villain" suit.

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15 minutes ago, chickenslegs said:

 

tukkytuktuk - If you don't caption your photographs, how do we know which one is our beloved PM?

 

I'm guessing that the actor is the one with the dyed hair and "Bond villain" suit.

I'll get you Chickenlegs. I deleted that post due to reading another thread that says you can get into big trouble if you take the Michael out of big P. Now I'm going to have to build a moat around my house to keep out the men in green. Thanks CL

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it would appear that the money pot is running low

 

simple solution

 

Thailand does not need submarines and in fact the military should not be buying stuff the country cannot afford  - time for a rethink

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PM floats idea of raising VAT to 8% but Finance Ministry disagrees
By THE NATION

 

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BANGKOK: -- PRIME MINISTER Prayut Chan-o-cha yesterday floated the idea of raising the value added tax (VAT) rate by one percentage point from the current 7 per cent to raise an additional Bt100 billion in annual tax revenues to finance various public projects.

 

He urged the public to help shoulder the burden so that the government has more financial resources to implement projects requested by a majority of people. He said businesses should not take advantage of a higher VAT rate and should avoid raising the prices of goods and services.

 

The VAT rate has remained unchanged at 7 per cent for many years so it should be adjusted to bring in more revenue, Prayut said, while insisting that the government’s fiscal position remains sound.

 

Meanwhile, a senior official at the Finance Ministry, who asked not to be identified, said the ministry had not made a proposal to raise the VAT rate because the timing was not appropriate.

 

Full story: http://www.nationmultimedia.com/news/national/30308499

 
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-- © Copyright The Nation 2017-03-10
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"He said businesses should not take advantage of a higher VAT rate and should avoid raising prices of goods and services."

 

He is telling people how to run their businesses now ?  The man has never worked a day in is life.  These people buy and sell things.  They take risks.  Somebody who has been given or taken things has no right telling these people what to do.  The entitlement this man thinks he enjoys is revolting.

 

This extra money is going to fund all these steering committees, sub panels, councils and redundant knitting circles.  Those 5 great rivers things we use to hear about need money too.  Then there are those badly needed Chinese submarines. 

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" He urged the public to help shoulder the burden so that the government has more financial resoruces to implement projects requested by the majority of people. "

 I could never be a politician: couldn't suppress the giggles and smirks if I said such a statement as this one. Anyone recall the majority of people requesting submarines, high speed trains to Hua Hin? Was I away at the time?

VAT taxes are about as regressive a form of taxation as you can find. How about some real estate taxation? Say any real estate valued about 4 million? Have the well to do shoulder some of this burden.

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