Connect with us

Economics

Customs Department Considers Measures to Help SMEs

Published

on

logomain

BANGKOK (NNT) – The Customs Department is seeking ways to reduce the impact of the exemption on import tax and value-added tax (VAT) for imported goods worth up to 1,500 baht, as such measures are hurting small and medium-sized enterprises (SMEs).

Director-General Patchara Anuntasilpa said the department may consider measures similar to a non-tariff barrier to help protect domestic SMEs from low-priced imports worth no more than 1,500 baht per piece that enjoy import tax and VAT waivers.

He said exempting such low-priced import products from import tax and VAT creates an unfair playing field for local SMEs, which have to pay VAT in accordance with Thai law.

Mr Patchara said any efforts to collect tax from imported goods with relatively low prices have to utilize other tax laws, not those relating to customs.

Information and Source
Reporter : Paphamon Arayasukawat
Rewriter : Paphamon Arayasukawat
National News Bureau & Public Relations :
http://thainews.prd.go.th

Source link

Click to comment

Leave a Reply

Economics

Recovering global trade supports APAC economies but Tourism exposure will temper Thailand’s rebound

The direct contribution of travel and tourism to Thailand’s economy was around 10% of GDP before the pandemic, but the economic repercussions of a significant slowdown are more widespread given a large informal tourism sector.

Published

on

Export growth better-than-expected in December 2020. However, amid the second wave of COVID-19 infections, exports could fall below previously forecasted levels in 2021.

Moody’s Investors Service says in a new report that a resurgence in coronavirus cases along with low vaccination rates in Asia Pacific (APAC) pose renewed risks to domestic demand, although recovering global trade will support the region’s more export-oriented economies.

(more…)
Continue Reading

Economics

Thai Government Plans to Increase 2022 Investment Budget by 90 Billion baht ($2.84 bln)

According to the 2022 fiscal budget bill, which has public spending set at 3.1 trillion baht, accounting for 17.9% of GDP, the government would need to borrow 700 billion baht to offset the deficit.

Published

on

BANGKOK (NNT) – The Budget Bureau notes that the Thai government plans to increase its investment budget by 90 billion baht in the fiscal year 2022, in compliance with a law related to state financial and fiscal discipline.

(more…)
Continue Reading
Wise

Most Viewed

Subscribe via Email

Enter your email address to subscribe and receive notifications of new posts by email.

Join 14,105 other subscribers

Recent