Under the current VAT regime, in effect since 2018, only imported goods valued at more than 1,500 baht are subject to VAT collection. The Royal Gazette has announced the Finance Ministry will begin collecting value-added tax (VAT) on all imported goods, including those priced below 1,500 baht, effective from July 5. The reason for collecting VAT on imported goods priced from 1 baht to 1,500 baht is the government's policy to address unfair competition from cheap imported consumer goods, which are not subject to VAT. The measure aims to prevent an influx of cheap imported goods, particularly from China, from flooding the domestic market. Under the current VAT regime, in effect since 2018, only imported goods valued at more than 1,500 baht are subject to VAT collection.

Source: Bangkok Post June 22, 2024 14:26 UTC