VAT refunds seen as means to hike tourist spending

VAT refunds seen as means to hike tourist spending

By THE NATION

 

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The Revenue Department will soon open bidding for private businesses to offer tourists in certain areas of Bangkok VAT refunds.

 

Director-general Ekniti Nitithanprapas said a pilot “sandbox” programme involving five companies around the turn of the year was successful in boosting sales of local products.

 

The department is now drawing up guidelines for selecting service operators.

 

Applicants must be capable of digitally linking to the department and have locations in suitable places for offering refunds.

 

They must be founded under Thai law and have registered paid-up capital of at least Bt25 million. They can have no record of issuing unlawful tax invoices.

“And we want to see places where refunds can be issued opened in all the provincial airports,” Ekniti said.

 

Two million tourists per year were claiming VAT refunds before the sandbox trial, representing a combined value of Bt2 billion-Bt3 billion.

 

Source: https://www.nationthailand.com/business/30376473

 

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-- © Copyright The Nation Thailand 2019-09-23
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