Tourism operators are calling for clearer measures regarding the 300-baht tourism fee after the tourism and sports minister said levy collection will be delayed from June to September because of issues with its implementation. Tourism and Sports Minister Phiphat Ratchakitprakarn said fee collection from foreign arrivals by air must be postponed because the airlines could not adopt a […]
Read MoreProspects for Thai exports look weak this year as a storm of economic uncertainties are expected to slow down shipping. The Federation of Thai Industries (FTI) lists the likelihood of a global recession, the impact of the prolonged Russia-Ukraine war, high inflation and currency fluctuations as risk factors behind sluggish international trade in 2023. Even car […]
Read MoreThe average government debt level in Asia-Pacific is at an 18-year high, with most developing economies in the region trying to stabilise it at current levels by 2027, according to recent research. According to a survey by the UN Economic and Social Commission for Asia and the Pacific (UN Escap), the number of countries rated […]
Read MorePrime Minister Prayut Chan-o-cha is feeling upbeat regarding Thailand’s economic recovery, citing the forecasts of several reputable economic agencies including the Asian Development Bank (ADB) and Japan Center for Economic Research (JCER) that anticipate a rebound in 2023 and 2024. According to government spokesman Anucha Burapachaisri, Gen Prayut credits the agencies for the evaluation and Thais […]
Read MoreThe banking industry’s push to discourage the use of cash led some to believe it was a good idea to charge fees for cash transactions and suspend cardless money withdrawals at ATMs. The Bank of Thailand and local banks have been promoting digital payments in their efforts to shift towards a cashless society, with digital […]
Read MoreThe Excise Department plans to overhaul the tax structure to make it fairer and align it with the current environment, says deputy director-general Kriengkrai Pattanaporn. The department’s most recent major restructuring of the tax system took place in 2017. He said the department would set up a committee to improve its overall tax collection plan, […]
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