All imported goods now face 7% VAT

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PeteC
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All imported goods now face 7% VAT

Post by PeteC »

All imported goods now face VAT.

https://www.bangkokpost.com/business/ge ... w-face-vat

Following a mandate from Prime Minister Srettha Thavisin, the government looks set to impose a 7% value-added tax (VAT) on imported goods valued from one baht up, commencing in May.

Goods sold for less than 1,500 baht per parcel and imported to Thailand are currently exempt from VAT.......
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buksida
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Re: All imported goods now face 7% VAT

Post by buksida »

VAT on imports sent via post starts in May
The Customs Department is scheduled to commence the collection of value-added tax (VAT) for imported goods sent through postal services, regardless of the value of the goods, starting in May.

According to finance permanent secretary Lavaron Sangsnit, imported goods currently sent via postal services are exempt from import duties and VAT if the importers declare the cost, insurance and freight (CIF) value of each item as less than 1,500 baht apiece.

However, low-priced goods from China are flooding the market, creating an unfair advantage as domestic producers are subject to taxes.

To ensure fair trade practices, the Finance Ministry plans to collect VAT for imported goods sent via postal services irrespective of their value, while maintaining the exemption from import duties.

https://www.bangkokpost.com/business/ge ... rts-in-may

Amazed nobody has commented on this, it will affect all purchases from Lazada that are not local. That said, stuff may still work out cheaper from China ... got a feeling this is a knee-jerk reaction to the elephant pants fiasco.
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404cameljockey
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Re: All imported goods now face 7% VAT

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Amazed nobody has commented on this, it will affect all purchases from Lazada that are not local. That said, stuff may still work out cheaper from China ... got a feeling this is a knee-jerk reaction to the elephant pants fiasco.
Please tell me about the 'elephant pants fiasco'! Actually, I'm now guessing it was about elephant pants made in China? Not as sensational as I first hoped. :D

Concerning the VAT, it is what it is, no comment, thanks for advising the forum. :thumb:
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buksida
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Re: All imported goods now face 7% VAT

Post by buksida »

Yep, the Thai authorities and nationalists, who claim sole rights to these marvels of modern fashion, flapped when cheaper elephant pants from China started flooding the markets.
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KhunLA
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Re: All imported goods now face 7% VAT

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No real surprise there, as enjoyed tax free for so long and actually surprised it wasn't done years ago. Just hope the keep the VAT discount at 7% and not go to 10%.

They're learning from the west/G20s, tax everything you can, as much as you can, while you can.

Tax Spend Pocket, Tax Spend Pocket, rinse & repeat.
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Re: All imported goods now face 7% VAT

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Whenever I order from Lazada I look to see where it is coming from, most of the time if it says overseas it will be China and I don't order. I look for a local retailer or not at all. Mainly because of time constraints.
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Re: All imported goods now face 7% VAT

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Green Nomad wrote: Mon Apr 29, 2024 3:44 pm Whenever I order from Lazada I look to see where it is coming from, most of the time if it says overseas it will be China and I don't order. I look for a local retailer or not at all. Mainly because of time constraints.
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Big Boy
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Re: All imported goods now face 7% VAT

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I suppose the overseas items, which are usually cheaper, will no longer be so attractive once the tax is applied.
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Re: All imported goods now face 7% VAT

Post by Dannie Boy »

I’m sure the prices on Lazada will be transparent so it’ll be a case of weighing up the price and delivery time and decide - although some items are simply not available locally so it’s import (from China) or find the closest alternative.
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