BANGKOK – The new excise tax law is expected to generate 12 billion baht in tax revenue according to the Excise Department.
Excise Department Director General, Somchai Poolsavasdi said the Excise Tax Act, B.E. which took effect on Saturday, September 16th, would raise retail prices of some alcoholic beverages and cigarettes.
Somchai told a press briefing that the law aims to make tax collection more transparent and should not have a major impact on overall product prices, adding that the producers may absorb the rising costs due to fierce competition in the market.
He then urged retailers not to hoard the products because doing so would violate the Internal Trade Department’s regulations.
Those who may have further questions in regard to the new law can call 1713 for more information.