Thursday , February 27 2020
Breaking News
Home / International Customs / Thailand / Thai Customs considers cutting import duties on luxury goods
Thai Customs considers cutting import duties on luxury goods

Thai Customs considers cutting import duties on luxury goods

BANGKOK: The Customs Department is considering decreasing import duties on luxury items like clothing and accessories to make shopping cheaper.
Director Kulit Sombatsiri said the department will study the the pros and cons of a import duty cut and ensure it will not affect local businesses.
As a result, it may reduce import duties for certain products which are not manufactured in Thailand, Kulit said.
He was speaking after the proposal from the private sector, which claims the reduction will boost tourist spending, Post Today reported.
Currently, import duties for most luxury items are at 30 percent, which results in higher retail prices.
While travelers may need more than cheap shopping deals to visit a country, Thailand has to make big changes if it wants to compete with major Asian shopping hubs like Singapore and Hong Kong, which do not impose import duties on luxury items.