thethai

foreign postal items

Thailand introduces VAT for foreign postal items

Thailand’s new VAT regulations on imported goods, implemented to ensure fair trade and protect local producers, are a significant development for the country’s economy. Thailand’s Customs Department is set to implement a new policy, starting from May 2024, that will charge value-added tax (VAT) on all imported goods sent through postal services, regardless of their value. According…

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electric songtaews

Toyota to provide electric songtaews for Pattaya

Toyota has launched electric songtaews in Pattaya for testing ahead of mass production of electric Hilux pickup trucks by 2025 Toyota Motor Thailand has launched a public transport pilot project in Pattaya featuring nine all-electric Hilux Revo pickup trucks. The initiative demonstrates the Japanese automaker’s growing efforts to compete with Chinese companies, which have significantly…

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PromptPay

Thailand moves to a cashless economy with PromptPay

The spread of cashless payments through PromptPay’s electronic payment system in Thailand is set to reach a record high in 2023 The Bank of Thailand’s 2023 year-end report said financial transactions passing through PromptPay, Thailand’s national electronic payment platform, reached a new high in 2023, while the number of cash transactions declined markedly. In December…

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special administrative zone

Phuket seeks to become a special administrative zone

Phuket authorities propose designating the province as a particular administrative region to collect and distribute tax revenue independently. Phuket’s governor has proposed designating the island province as a particular administrative region to gain more authority over tax collection and budget allocation. This would allow Phuket to develop on par with Bangkok and Pattaya regarding the…

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50 million

Thailand to distribute 10,000 baht each to 50 million citizens

Thailand is preparing a massive cash handout to stimulate the economy, with the Cabinet approving a project to hand out 500 billion baht through digital wallets. The Cabinet has approved a 500 billion baht project to stimulate Thailand’s economy through digital wallets, clearing another hurdle to fulfilling a vital promise of the ruling Phea Thai party, Reuters reported, citing a…

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