Thailand cutting alcohol and entertainment taxes to attract more tourists:
– Wine tax reduced from 10% to 5%, spirits tax reduced from 10% to zero
– Excise tax on entertainment venues reduced from 10% to 5%
– Tax breaks are temporary and will end at close of year
– Nightlife opening hours extended to 4am
– Loss of tax revenue expected to be offset by additional tourist spending
– Thailand heavily relies on tourism for economy, achieved goal of 28 million tourists last year
– Goal to attract over 34 million tourists by 2024
– Thailand aiming to make partying and drinking cheaper and more fun
– Government betting on measures to bring in more tourists and revenue.