Thai tourism announces VAT refund plan for tourists

Wednesday, August 23, 2023

The plan of the Royal Thai administration to announce VAT repayment for tourists system for renewal of tourist entrances following a substantial setback to the economy because of damage of income subsequent to obligation of lockdowns and strict Covid regulatory actions, has fetched opulent payments.

Introduced by the revenue department and Tourism Authority of Thailand (TAT), the arrangement not only
assisted in receiving more travelers mostly from India, Europe, China and the US, it also improved the income realization and augmented job prospects for the native youth. Thailand relies a lot on tourism. In 2019, it witnessed nearly 11.5 per cent of its GDP from tourism.

Overseas tourists’ influx shrunk following the closing of global boundaries. Thailand administration also
imposed a stringent rule to limit the influx of tourists.

The tourist influxes are now staggering to regularity with the airlines, cabs, hotels, restaurants and the
entertainment sector such as water sports and beachfront festivities going back to normality.

VAT is specified to stuffs like laptops, televisions, gold, jewellery, smartphones, along with other luxury objects purchased from shopping malls and stores exhibiting ‘VAT refund for tourism’ notices and posters within 60 days of purchasing. The demand should be done at the airport at a distinct kiosk for repayment after immigration. It is also delivered by electronic means with the help of a recommended form and demanding the sum together with the original proof of purchase copy.

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