World

Downtown VAT refund booths urged to set up in Thailand

The Thai Retailers Association (TRA) has proposed the Government of Thailand to let private operators run VAT refund booths at downtown duty- and tax-free shopping areas to boost sales.
Downtown VAT refund booths urged to set up in Thailand ảnh 1A duty-free shop in Thailand (Photo: kingpower.com)

Bangkok (VNA) – The ThaiRetailers Association (TRA) has proposed the Government of Thailand to letprivate operators run VAT refund booths at downtown duty- and tax-free shoppingareas to boost sales.

According to the TRA, if the plan isendorsed, private retailers will partner with Global Blue, a well-known taxrefund company, to offer services to tourists in Thailand.

In the upcoming auction for airportduty-free concessions, the TRA recommended that the government lower theconcession period to five or seven years from the current 10 years, and raisethe concession fees to the government to the international standard of 30-40percent, compared to the 15-19 percent now collected from duty-free operators.

Reducing the lifetime of the concessionwould help prevent the long-term monopoly of a single operator and stimulateinnovation in terms of product quality and customer experience.

Visitors toThailand spend an average of 4,000 baht (about 123 USD) a day per person,mostly for hotel and food, but with the portion for shopping at just1,200-1,500 baht (37-46 USD), according to the Tourism Authority ofThailand. –VNA
VNA
#The Thai Retailers Association (TRA)#Government of Thailand#private operators#run VAT refund booths#downtown duty#tax-free shopping areas#Vietnam News Agency#Vietnamplus
Follow VietnamPlus

Related News

Thailand’s economy sees slow growth in Q2

Thailand’s economy sees slow growth in Q2

Thailand’s economy in April-June grew at a slower pace than in the previous quarter, but the National Economic and Social Development Board (NESDB) kept its yearly GDP growth forecast of the country at 4.2-4.7 percent.

See more

At Pulau Seraya power station (Photo: Straitimes)

Singapore begins construction on hydrogen-fueled power plant

Singapore on October 23 began the construction of an 800 million USD power plant that has the capability to use hydrogen to generate electricity, as part of a push to utilise the fuel to reach Singapore’s net-zero carbon emissions target by 2050.

Delegates at the event (Photo: VNA)

125th anniversary of Permanent Court of Arbitration celebrated

The Permanent Mission of Vietnam to the United Nations and missions of the Philippines, Australia, Egypt, Guatemala, Hungary, Thailand, France, Eritrea and Austria, organised a ceremony on October 22 to celebrate the 125th anniversary of the Permanent Court of Arbitration (PCA), as part of the International Law Week at the UN General Assembly's Legal Committee (Sixth Committee).

CEO of the Malaysia Digital Economy Corporation Anuar Fariz Fadzil (Photo: focusmalaysia.my)

Malaysia continues placing emphasis on digitalisation

The Budget 2025 provides significant support to further accelerate Malaysia’s digitalisation, encourage adoption of artificial intelligence (AI) and drive inclusive growth, further positioning Malaysia as a leading digital hub within the ASEAN region, according to CEO of the Malaysia Digital Economy Corporation (MDEC) Anuar Fariz Fadzil.

Malaysia's economic reforms boost investment inflow (Photo: thestar.com.my)

Malaysia's economic reforms boost investment inflow

Malaysia has attracted substantial foreign investments, reaching 22.2 billion MYR (5.16 billion USD) in the third quarter of 2024, the highest level for the same period since 2012, according to UOB's Global Markets and Economics report.

Ambassador Dang Hoang Giang, Permanent Representative of Vietnam to the UN speaks at the debate (Photo: VNA)

Maintaining peace, stability a must for progress on human rights: Ambassador

Progress in human rights can only be achieved by maintaining peace and stability, respecting the rule of law at both the international and national levels, and ensuring respect for the principles of national sovereignty and non-interference in internal affairs, said Ambassador Dang Hoang Giang, Permanent Representative of Vietnam to the UN.

A visitor browses travel promotions at a travel fair in Nonthaburi province. (Photo: Bangkok Post)

Thailand plans enhanced support for domestic tourism

Thailand’s Ministry of Tourism and Sports is aiming to increase subsidy to local tourists in the upcoming stimulus scheme to 50% and would like to change the criteria for online travel agents, mandating them to register in Thailand to avoid losing income to foreign companies.

Oil field offshore Indonesia. (Photo: thejakartapost.com)

Indonesia begins major oil, gas exploration in Sulawesi

Indonesia's state-owned oil company Pertamina, along with foreign partners Sinopec from China and Kuwait’s Kufpec, has signed a contract to explore the Melati oil and gas block, located off the coast of Sulawesi. The block is estimated to contain trillions of cubic feet of gas reserves.