Lower tariffs on some luxury products
Play
The Finance Ministry is considering lowering the import tariffs on some luxury items, to promote the country's tourism.
Finance Permanent Secretary Areepong Bhoocha-oom was quoted by Infoquest as saying that the tariff reduction would make Thailand more competitive against other shopping paradises like Hong Kong and Singapore.
He said initially, the tariff reduction could be applied with perfumes, cosmetics and watches which are now subjected to 30 per cent tariffs against the zero per cent rate in Hong Kong and Singapore.
