FOR THE EXPAT IN ALL OF US! ISSUE 445 15th September 2017
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‘sin’ prices likely to increase this weekend
•Our• apologies if our front page story this week comes too late for readers to stock up on booze, fags and thailand
playing cards, but tomorrow, Saturday 16th September, will almost certainly see price rises for these goods, based on new excise tax rates approved by the cabinet this week and announced earlier in the year. Almost certainly? Well, yes, because it appears that nobody really knows how these changes will actually impact on the prices of alcohol; and this is because of the change in how they will be levied. Theoretically some prices may actually drop, although history informs us that this rarely happens. Cigarettes are expected to rise by an average 30 baht per pack, but the tax on alcohol is changing in several ways; firstly, it is being calculated based on alcohol content rather than as a straight percentage of retail price; secondly, it is being collected at the wholesale level, and finally, and perhaps most bizarrely, a somewhat nebulous recommended retail price is going to be used as a base for the computation. We believe that this will change to actual retail prices (before VAT) but even that clouds the issue, as a bottle of beer, for example, sells for vastly different prices based on many different factors. Most commentators believe though, that there will be a rise of around 4 - 5 % this weekend. How your local bar or restaurant reflects this in their price will also depend on a variety of factors, but it is unlikely that they will be able to avoid raising prices, and some may exploit the situation. Thailand in general will still be relatively cheap for alcohol when compared to most other countries, but it will still be a blow to both customers and businesses, at a time when many are struggling. In the meantime, the spectre of VAT rising to 10% this time next year is a strong possibility as well, with this having been postponed several times in the past.