September 16, 2017 / 9:49 AM / 10 months ago

Thailand sets new excise tax on alcohol, cigarettes

BANGKOK, Sept 16 (Reuters) - Thailand’s new excise tax law will see higher prices of certain goods, including some alcoholic beverages and cigarettes, and should generate about 12 billion baht ($360 million) in tax revenue, a senior government official said on Saturday.

The law, effective on Saturday, is aimed at making tax collection more transparent and should not have a big impact on overall product prices, Somchai Poolsavasdi, director-general of the Thailand’s Excise Department, told a briefing.

“Overall, this will increase tax revenue by 2 percent,” he said.

The tax on alcohol will increase by up to 30 baht per bottle, while beer will rise by 0.50 baht per can and 2.66 baht per bottle, the official said.

The tax on imported wine will rise at least 110 baht per bottle, and cigarettes will increase by 2 to 15 baht per pack, the official said.

1 = 33.10 baht Reporting by Kitiphong Thaichareon; Writing by Orathai Sriring; Editing by Tom Hogue

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