June 25, 20242 yr From The Thaiger Thailand’s Ministry of Finance announced the collection of value-added tax (VAT) on imported goods, which aims to address disparities between foreign and domestic sellers in terms of tax obligations, effective from July 5 to December 31, 2024. The Royal Thai Government Gazette published the Ministry of Finance’s declaration today, June 24. The declaration focuses on customs duty exemptions for items valued at 1,500 baht or less, aiming to create a fairer marketplace for consumers. The government’s policy seeks to resolve the unfair competition between foreign sellers, who are not subjected to VAT, and local sellers, who must pay this tax. This measure is also in line with international agreements that mandate a minimum value threshold for imported goods to justify customs duties.
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