1 May 2024
Following a mandate from Prime Minister Srettha Thavisin, the Thai government confirmed that it will remove the low-value goods Import VAT exemption on goods imported from outside the country.
Currently, there is an Import VAT exemption threshold set at Baht 1,500 (approx. £32), which allows importers to purchase goods free of VAT from non-resident companies up to this value. However, from May 2024, this threshold will be removed and instead, non-resident providers will have an obligation to charge VAT to the consumers at the current rate of 7%.
The Thai government hopes to confirm more around how to register as a non-resident company during May and it is widely thought that this will be via a simplified registration scheme with no VAT registration threshold.
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