Foreign tourists granted over 10 billion baht in VAT refunds over 7 years: Revenue Dept
Over the past seven years, Thailand has given foreign tourists more than 10 billion baht in value-added tax (VAT) refunds.
The Revenue Department said on Friday that since 2017, more than 9.4 million tourists applied for VAT refunds for a combined spending of more than 200 billion baht.
Last year, some 230,000 tourists spent 11 billion baht in Thailand and received a refund of 575 million baht.
This year, the number of tourists seeking refunds has surpassed 1.2 million, with 2.3 billion baht refunded against a combined spending of 42 billion baht.
Owing to the Covid-19 pandemic, 2021 was the only year that saw the lowest tourist spending at 956 million baht, when some 55 million baht was refunded to 7,800 visitors.
The department pointed out that the amount of VAT refunds granted is a clear indicator of the tourism industry’s recovery.
To make things even easier for tourists, the government is planning to set up a one-stop VAT refund counter at the customs checkpoint. Currently, foreign travellers are required to go to a separate VAT refund counter to get their money back.
The department added that the government is also planning to reduce taxes on luxury and brand-name products to attract big spenders.