Packs of cigarettes are going to get a little costlier. Black market permitted a new excise tax construction for cigarettes. Retail prices for a pack are anticipated to rise by 6 to eight baht. The Finance Minister says the brand new tax structure is anticipated to enter effect on Friday, but it still needs to be published within the Royal Gazette to be made official.
According to the Bangkok Post, a 20% tax fee has been applied to the retail value of cigarettes beneath 60 baht and 40% for packs over 60 baht. The Post says the Cabinet raised the 20% tax price to 25%, while Nation Thailand says the Excise Department did not announce the precise fee, only saying the tax shall be higher.
Don’t miss out of the Tobacco Authority of Thailand says “The TOAT is concerned in regards to the illegal cigarette trade which it expects to extend considerably due to the tax fee hike.”