Beginning 2024, the Cabinet has approved measures recommended by the Ministry of Finance to promote Thailand as a tourism destination, with the goal of increasing revenue from foreign tourists to 1.5 trillion baht.
They issued measures to lower taxes on wine and community spirits, as well as to reduce the tax rate on entertainment or entertainment businesses from 10 percent of revenue to 5 percent for a one-year term ending 31 December 2024.
This will result in higher spending by both international tourists and Thais at all levels, therefore boosting the share of high-quality tourists in the long run.
Ekniti Nitithanprapas, director-general of Thailand’s Ministry of Finance, said the new tax structure will allow wine worth less than 1,000 baht to be cheaper, while wine worth more than 1,000 baht will have a similar price. He gave an example that in the past, a wine worth 10,000 baht had to pay a tax of 1,000 baht. Under the new policy, it will be 600 baht.
Credit: http://kaosodenglish.com
