the value of Thailand’s e-commerce market is expected to reach THB870 billion by the end of 2023, with a year-on-year growth of 8%. This surge in cross-border trade brings with it the complexities of customs duties, taxes, and international shipping regulations. ...
Unless exempt, all imported commercial goods are subject to customs duties and taxes based on their Harmonized System (HS) Code tariff classification. Generally speaking, it is the Importer of Record (i.e. either your business or your chosen logistics carrier) who will pay the import duties a...
Arguably one of the biggest points of discussion pertains to the customs process for imports and exports. Both sides aim to align their practices in relation to rules of origin and custom rates, with preferential tariff treatments offered to goods originating from Thailand and the EU, as well as...
Thailand has seen an annual trade surplus in gems and jewelry under customs tariff No. 71 with the European Union (EU) of at least 400 million US dollars. During the first 11 months of 2005, the gem and jewelry trade between Thailand and the EU totaled 1.521 billion US dollars, marking ...
Depending on which is higher, duties are assessed on a specific or ad valorem basis. The applied ad valorem taxes range from 0% to 80%. According to theCustoms Tariff Decree, certain commodities are eligible for exemptions from import taxes. Preferential duty rates are available on imported goo...
Thailand has signed a mini-free trade agreement (mini-FTA) with Shenzhen. The agreement, signed on 1 March 2023, will focus on increasing business opportunities already provided by tariff cuts and terms under the Regional Comprehensive Economic Partnersh
In 2022, Thailand's average Most Favoured Nation (MFN) applied tariff rate on agricultural products was 26.6% while that for non-agricultural products is 7.1%. In May 2017, Thailand repealed the outdatedCustoms Act of 1926. A newCustoms Act BE 2560 (2017)came into force on 13 November 201...
Sinit said the pact has not only provided additional tariff reduction or elimination for Thai businesses but also offered trade facilitation measures to speed up the customs clearance procedures, which is especially beneficial for ...
The Thailand Industry Outlook report evaluates the attractiveness of selected Thai industries to support credit evaluation for the bank’s clients over the next 3 years (2021-2023). The report considers a range of factors that will affect each industry over this timeframe. These include the broad...
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