Connect with us

News

Thailand raises taxes on cigarette and alcohol

The department is also studying applying a new excise tax rate on beer and wine as the existing maximum tax of 400 baht is considered low, taking into account the alcohol content.

Boris Sullivan

Published

on

Thai rum SangSom

The Cabinet’s decision to raise alcohol and cigarette excise taxes will help cut consumption and curb the influx of cheap cigarettes from neighbouring countries.

Excise Department Director-General Benja Louicharoen said after the tobacco excise duties on cigarettes were increased, that cigarette taxes rose to 87 per cent from 85 per cent based on the level of one baht per cigarette.

Thai rum SangSom

Will cost 10 baht more from now on

Applying the new tax rate based on volume, cheap cigarettes from neighbouring countries must pay more taxes by 10-13 baht per pack.

For alcoholic drinks, the excise tax on rice whiskey was increased from 120 baht per litre to 150 baht/litre based on alcohol content (100 per cent), so its production cost was raised by 5-7 baht per bottle.

The excise tax on blended liquor was raised from 300 baht to 350 baht/litre, so its production cost has been increased by 5-7 baht and the tax on brandy was up to a maximum 400 baht/litre, from 48 per cent to 50 per cent based on value.

The department is also studying applying a new excise tax rate on beer and wine as the existing maximum tax of 400 baht is considered low, taking into account the alcohol content.

It also doubled the annual license fee for wholesale and retail cigarette shops from 250 to 500 baht and 20 to 40 baht respectively.

The new excise tax rate will increase the department’s revenue by Bt13 million and excise collection is likely to reach its target of Bt425 billion.

via Increase of alcohol, cigarette taxes to cut consumption.

Comments

Asean

ASEAN economies poised for robust recovery with 6% real GDP growth in 2021

The six largest ASEAN nations (Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam) are expected to witness positive real GDP growth rates in 2021 according to Global Data

Avatar

Published

on

Receding daily COVID-19 cases, rollout of vaccines, increased spending by the governments along with easing of monetary restrictions will help revive the Association of Southeast Asian Nations (ASEAN*) economies in 2021 with their real GDP forecasted to rise by 6%, says GlobalData, a leading data and analytics company.

Loading...
(more…)

Continue Reading

News

Thailand new coronavirus cases -59- down to two digits

Of the new cases, 28 were exposed to the virus while visiting high-risk areas. The province with the highest number of infections is Bangkok (10), followed by Samut Sakhon (7).

Boris Sullivan

Published

on

Thailand confirmed 59 new coronavirus cases and one additional death on Wednesday, taking its total infections to 12,653 and fatalities to 71, the first day Covid infections are down to two digits since the beginning of the second Covid-19 outbreak in the country in December.

Loading...
(more…)

Continue Reading

News

Thailand switches to black and white for final farewell to late King

Many businesses across Thailand will come to a halt while others will make necessary adjustments to pay their last respects to the beloved late King Bhumibol Adulyadej.

Boris Sullivan

Published

on

Many businesses across Thailand will come to a halt while others will make necessary adjustments to pay their last respects to the beloved late King Bhumibol Adulyadej. (more…)

Loading...
Continue Reading

Most Viewed

Subscribe via Email

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

Join 14,063 other subscribers

Latest

Trending