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Pattaya Daily News

12 September 2013 :: 10:09:29 am 78202

It’s Not Time Yet

The concept behind reducing import duties and taxes on lavish products such as fashion products, clothing, banks, shoes, jewelry and watches along with other brand-name products is not a new issue.
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This is not a new issue, this topic has been discussed many years ago since the brother of current Prime Minister Yingluck Shinawatra was the Prime Minister of Thailand 10 years ago.

At that time this idea was born and it was tried in Phuket because it was one of the major tourist cities. Eventually, nothing happened.

This topic has been discussed and criticized several times whether this policy will create and attract more tourists or whether it will harm the brand-name market in Thailand.

On the other hand, it is believed that by reducing the taxes on brand-name products it will reduce competition in the Thai market. Finally the country decided to reduce taxes which meant losing revenue and therefore was not worth it.

It is believed that by lowering the taxes on brand-name products will benefit the Thai customers that regularly spend on brand-name products rather than benefiting the tourists. The Thai customers will benefit because they would not have to travel abroad to buy brand-name products.

Thailand is a heaven for tourist it can be proved by seeing the latest statistics which reports that the revenue from tourism market has increased as compared to last year’s tenant therefore is now estimated at 2.2 trillion baht for 2015.

It is now time for Thai entrepreneur to improve and develop their products and brands to meet the international markets. This issue has been discussed several times.

“Thailand the shopping destination”, although it is an interesting concept but as long as the Thai brand is not strong enough there will be more bad results than good if this policy is enforced.

It is now time to take serious action to improve and create a Thai brand-name that will be recognized and competed in the international markets.

But now it is time to hear whether the policy will be implemented or declined.

Photo : Internet   Category : Society

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