The Revenue Department has allowed two companies that failed to win approval for offering downtown value-added tax (VAT) refund service to foreign tourists during a six-month trial run to file appeals within 15 days after its decision was announced. The department will take 30 days to deliberate on the appeals before forwarding them to the Finance […]
Read MoreConsumer confidence fell for the first time in four months in September, as people were more concerned about the impact of higher oil prices, relatively low farm prices, an escalating international trade row and the slow pace of economic growth. The latest survey by the University of the Thai Chamber of Commerce (UTCC) found that the […]
Read MoreDespite an improved forecast for this year’s economic growth, Thailand’s outlook over the next two years is projected to slow down as investment is poised to subside and external uncertainties cast a shadow over exports, says the World Bank. The World Bank has upgraded Thailand’s economic growth forecast to 4.5% from 4.1% this year based on […]
Read MoreThe Bank of Thailand will require homebuyers to make a down payment of at least 20% of home value for new mortgages worth 10 million baht and higher as well as for second homes, in an effort to curb mortgage and property risks and improve housing loan quality. The requirement is expected to be implemented from […]
Read MoreTHE THAI Retailers Association (TRA) is to appeal to the Revenue Department to reconsider five locations it has proposed for value-added tax (VAT) refunds to foreign tourists other than at airports, TRA president Worawut Oonjai said yesterday. The five strategic locations are: Siam Paragon, CentralWorld, Central Chidlom, The Emporium and Robinson Sukhumvit malls. Worawut’s call […]
Read MoreA group of retailers has called on the government to think twice about the downtown value-added tax (VAT) refund contract for foreign tourists outside airports, reasoning that Siam Paragon, CentralWorld, Central Chidlom, The Emporium and Robinson Sukhumvit are located in areas with the highest tourist densities, making them the most appropriate refund points. The five malls […]
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Thailand
