Thailand geared to increase foreign tourist spending
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The other proposals are; instant VAT refund, exclusion of VAT from some items, reduction of import tariffs of some consumer product items, and the scheme to promote “Thailand Brands Sale”.
The proposals are aimed at boosting foreign tourists’ spending in Thailand.
Rawittha Pongnuchit, a tax-law expert and former deputy director-general of the Revenue Department as chairman of the duty-free association, said that all the proposals would boost the economy.
“We are pleased that the government responded (to our proposals) and is ready to materialise the proposals within the specified timeframe,” he said.
He added that pick-up counters at all international airports would facilitate foreign tourists’ shopping. This would lead to more jobs and higher income at airports.
It is agreed that all the airports would have the counters within 60 days.
The decision followed a meeting yesterday between Finance Minister Apisak Tantivorawong, Tourism Minister Kobkarn Wattanavrangkul, and representatives of the Thai Shopping Centre Association, Thai Retailers Association, and duty-free shop association.
A working committee will be set up to study on the exclusion of VAT from some items. The Revenue Department is tasked to explore overseas experiences involving instant VAT refund.
Questions & Answers
Q.What specific measures are being proposed to encourage higher spending from foreign tourists?
What specific measures are being proposed to encourage higher spending from foreign tourists?
Proposals include an instant VAT refund system, excluding VAT from certain items, reducing import tariffs on some consumer goods, and a scheme to promote 'Thailand Brands Sale' to boost tourist expenditure.
Q.Which government departments and industry bodies were involved in the recent decision-making meeting?
Which government departments and industry bodies were involved in the recent decision-making meeting?
The meeting involved the Finance Minister, Tourism Minister, and representatives from the Thai Shopping Centre Association, Thai Retailers Association, and duty-free shop association. They discussed proposals to boost tourist spending.
Q.When are the new pick-up counters for foreign tourists expected to be operational at international airports?
When are the new pick-up counters for foreign tourists expected to be operational at international airports?
It has been agreed that all international airports will have the new pick-up counters within 60 days. These counters are intended to facilitate shopping for foreign tourists.
Q.Which entities are responsible for studying the new VAT proposals before implementation?
Which entities are responsible for studying the new VAT proposals before implementation?
A working committee will be established to study the exclusion of VAT from certain items. The Revenue Department is tasked with exploring international practices for instant VAT refund systems.
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