BANGKOK, 29 August 2014 – The Excise Department is looking to merge seven current laws concerning excise tax into one bill, for the purpose of improving transparency and to meet the global standard.
Somchai Phunsawat, director-general of the Excise Department, said on Thursday that under the new bill, excise would be calculated from the suggested retail prices instead of prices at the factory. The draft of the bill is expected to be completed in September; it will then be sent to the Cabinet for consideration, and then forwarded to the National Legislative Assembly.
The new bill will cover excise taxes on liquor, tobacco and playing cards. It will also supersede current bills on excise tax, excise rates, excise revenue distribution and liquor tax revenue distribution. Drafters of the bill are currently taking comments on the bill from the private sector and related agencies, in order to clearly set the boundaries of the bill, to ensure that excise taxes better reflect item prices, and to ensure fairness for importers and producers of the items.
