Bangkok--Mar 25--TAT
The Thai government has enacted new legislation affecting import taxes on boats. The new legislation confirms Thailand’s change of stance on the question of leisure boating and its determination to go for growth in this high value tourism sector.
Throughout 2003, the Marine Alliance of Thailand (MAT) worked closely with Thailand's Ministry of Tourism and Sport, the ministry charged with the development of new sources of high-value tourism revenue, providing input on the needs and opportunities of the marine tourism sector.
From 18 February 2004, boats in the following categories imported into Thailand will not have to pay import or excise taxes:
(1) Inflatables
(2) Sailboats (with or without auxiliary motor)
(3) Motorboats (other than outboard motorboats)
(4) Others.
VAT, currently at 7%, will still apply. End.
-NM-