Business Day News,Thailand Business News,Press Release News, Finance,Forex,Stock,Economy,Politics,Energy,Bank News » Value-added tax http://www.bday.net Business Day Online News Wed, 23 May 2012 17:30:37 +0000 en hourly 1 http://wordpress.org/?v=3.3.2 VAT cut to boost jewelry export http://www.bday.net/vat-cut-to-boost-jewelry-export/ http://www.bday.net/vat-cut-to-boost-jewelry-export/#comments Mon, 29 Jun 2009 12:20:02 +0000 k http://www.bday.net/?p=530 BANGKOK, 29 June 2009 (NNT) – Value added tax (VAT) cut from raw material imports of gems for the jewelry industry will boost jewelry export value to 300 billion baht this year, said Deputy Commerce Minister.

Deputy Commerce Minister Alongkorn Ponlaboot revealed that the governments policy would make Thailand more competitive, and cut production cost for entrepreneurs. He was confident that the jewelry export value would increase to 300 billion baht, which would result in less negative value of Thai overall export this year.

He believed that this measure would benefit many parties, because currently the global economy was improving, which was the main factor to push Thailand as a jewelry production center of the world. In the past VAT had affected Thai jewelry industry’s competitiveness when compared to other countries.

]]> http://www.bday.net/vat-cut-to-boost-jewelry-export/feed/ 0 Thai govt revenue in first seven months of fiscal 2009 down 16.67% from projection http://www.bday.net/thai-govt-revenue-in-first-seven-months-of-fiscal-2009-down-1667-from-projection/ http://www.bday.net/thai-govt-revenue-in-first-seven-months-of-fiscal-2009-down-1667-from-projection/#comments Mon, 25 May 2009 01:59:43 +0000 k http://bday2.bday.net/?p=31 BANGKOK, May 16 (TNA) — Government revenue in the first seven months of fiscal 2009 – from last October 1 to April 30, 2009 – fell 16.67 per cent below projections, a senior Thai Finance Ministry official said.

Somchai Sujjapongse, Director-General of the Fiscal Policy Office said government revenue during the period stood at Bt644.651 billion, down from Bt773.584 billion projected earlier.

The sharp decrease in government revenues from the target number was attributed to falling tax collections, a drop in budgetted revenues from government-run state enterprises and rebates and allowances instituted by the Revenue Department during the first quarter of fiscal 2009, said Mr. Somchai.

Value-added tax (VAT) and personal income tax collections during the period also slipped 18.6 per cent and 7.6 per cent respectively due to the sluggish economy in the country and tax reductions offered by the government, he said.

Although the government earlier this month increased excise tax on alcohol drinks which could generate higher income, the Finance Ministry forecast that government revenue for the entire fiscal 2009 would definitely retreat from an earlier projection of about Bt1.6 trillion, Mr. Somchai said. (TNA)

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