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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crypto exchanges

Thailand blocks access to unauthorised crypto exchanges

Thai authorities are blocking access to unauthorised crypto platforms to fight cybercrime and urging users to withdraw assets urgently. According to a report published on the Securities and Exchange Commission of Thailand’s website, Thai authorities have decided to block access to all ‘unauthorised’ cryptocurrency platforms to increase the effectiveness of law enforcement agencies in addressing…

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visa-free travel

Thailand introduces 60-day visa-free travel for Russian citizens

The Thai government has reduced the 90-day visa-free stay for Russian citizens to 60 days starting from 1 May, effective from November 2023 Thai Prime Minister Settha Thavisin said following a cabinet meeting that the Thai government has unilaterally adopted a 60-day visa-free regime for Russian citizens, effective 1 May. ‘The Cabinet approved the Ministry…

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