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Bangkok Post, Thailand, Business Briefs Column.
Dec. 2--NEW TAX REGIME FOR DISTILLED SPIRITS: A new excise tax structure for distilled spirits will be based on alcohol content rather than beverage classification, according to Deputy Finance Minister Suchart Jaovisidha.
He said the restructuring would simplify the tax code overall. Currently, distilled spirits are taxed at various rates by type, with whiskies at 45 percent, brandy at 30 percent and plain spirits at 28 percent.
Under the new system, excise taxes would be based strictly on alcohol content, regardless of the type of spirit.
Plain liquor, among the most popular of distilled spirits produced in Thailand, currently limits alcohol content to no more than 18 percent.
Mr Suchart said the new rates would also reduce current distortions, noting that high-end brandies were taxed at just 30 percent compared with spirits such as Mekong or Hong Thong at 45 percent.
The Excise Department says rates would also fall overall, helping reduce incentives for producers to evade registration and payment.
MILLENNIUM STEEL LISTING APPROVED: The Stock Exchange of Thailand has approved the listing of common shares of Millennium Steel Plc.
- Bangkok Post, Thailand, Business Briefs Column.
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