BANGKOK, 5 May 2014, – The Excise Department has announced that the prices of imported cigarettes would be increased by 1-2 baht per pack, adding that retailers may apply the hike without informing the department.
According to Director-General Somchai Poonsawad, the price hike is approved to reflect the actual costs of cigarettes set by manufacturers abroad. He said that retailers can raise the prices without notifying the department, as they already have abolished a policy that requires retailers to declare their adjusted prices. Nonetheless, Mr. Somchai said the prices must be adjusted appropriately based on factors such as rising production or logistics costs.
Mr. Somchai also added that the Revenue Department would deploy a number of Revenue officials to conduct inspections in collecting the right amount of Value Added Tax (VAT) from retailers in accordance of the law.