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Friday 5 January 2024

Thailand slashes taxes on alcoholic drinks

Good news for thirsty visitors to Thailand.

In a boost for tourism, the Thai government has approved a tax cut on alcohol, and for entertainment venues.

Taxes on wine will be halved from 10% to 5% while the 10% tax on spirits will be scrapped, Travel Mole reports.

The excise tax levied on entertainment venues will be halved to 5%.

The measures are described as "temporary" and will last until the end of 2024.

This is the latest move to boost the night time entertainment industry after opening hours were extended to 4am recently in major tourism areas.

Wine lovers, used to absurd mark-ups on wines, particularly, will be pleased by the news with import tariffs on wines, currently assessed at 54% and 60% of declared value, also be exempted for one year.

Which means no more paying $50 or more for a bottle of Jacob's Creek in a 7/11 store.

Finance Ministry Permanent Secretary Lawan Saengsanit said it was planned that additional spending by tourists will offset any cut in tax revenues.

The government said it reached the amended tourist arrivals target of 29 million in 2023. It is forecasting 34 million tourist arrivals for 2024.

Image: Walter Pucher,

  Walter Pucher  on  Scopio


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