– Cabinet approves tax cuts for alcoholic beverages to benefit tourism industry
– Import tariffs for wine to be waived for one year, resulting in significant price decrease
– Excise tax on wine and local liquor to be reduced from 10% to 5% and 10% to zero, respectively
– Entertainment venues to benefit from a halved excise tax, reduced to 5% of gross revenue
– Tax measures to be implemented soon, with expiration date at end of year
– Two-hour extension of opening hours for entertainment venues in Bangkok and tourist hotspots
– Ministry of Finance estimates tax cuts will result in additional tourist receipts
– Thailand aims to attract over 34 million foreign visitors by 2024
– Tax cuts seen as boost for small-scale local brewers and distillers
– Move Forward Party advocating for Progressive Liquor Bill to support smaller industry players
– Strategic move to attract more visitors and support local businesses in alcoholic beverage industry to boost economy and tourism.