FREE TRADE
Estimated B80bn in tax savings from agreements
Businesses could benefit from up to 80 billion baht in tax reductions if they took full advantage of free trade agreements, says Somkiat Tangkitvanich, vice-president of the Thailand Development Research Institute (TDRI).
More than half of the goods and services traded by Thailand last year took place with FTA partners, but only around half of the benefits were used, a TDRI study estimated..
Businesses in overseas countries in 2009 saved 72.03 billion baht in import taxes on goods from Thailand, while Thai importers saved 33.03 billion baht. If all of the benefits had been tapped, the figures would increase to 131.17 billion and 53.03 billion baht respectively.
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About the author
- Writer: Nanchanok Wongsamuth
- Position: News Reporter
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