The Finance Ministry's plan to slash import tariffs on luxury products may be applied selectively, to avoid affecting domestic producers of similar items, particularly leather and accessories, Deputy Finance Minister Benja Louicharoen said on Monday.
A vendor who earns a basic living pushes his cart outside a brandname shop, where a bag sometimes costs as much as he earns in a month, in a tourist areas of Bangkok in August, 2013. Photo by Seksan Rojjanametakun
She was responding to a report that the ministry is considering a cut in import tariffs on luxury products, from 30% to around 5%, to help position Thailand as a shopping paradise for both Thais and foreign visitors.
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