Connect with us

Phuket

Boat import taxes demystified

Legacy Phuket Gazette

Published

 on 

Boat import taxes demystified | Thaiger

PHUKET: Taxes for importing a yacht into Thailand have long been a matter of confusion, discussion, argument and speculation. Now, however, Gazette inquiries with the Customs Department, both in Phuket and in Bangkok, have uncloaked the way that the various taxes are applied. For a start, it has been confirmed that there is no such thing as a “luxury tax” on imported boats (or, for that matter, on tobacco and wine). Instead, the excise tax in the case of boats has been raised to a punishing rate of just over 111%. The Gazette understands that a proposed reduction in this rate – which has the backing of the Ministry of Finance – is now awaiting Prime Minister Thaksin Shinawatra’s approval. The application of duties and taxes currently works as follows: The boat is valued by the Customs Department. Though the value is to some extent ‘negotiable’, Customs officers base their figure on precedent. If they have handled a similar boat in Phuket before, that will be used as the basis for a valuation. If not, headquarters in Bangkok or the Customs Department in Laem Chabang are requested to provide a valuation. Once the value of the boat has been established, the first impost applied is the 30% import duty. Then the excise tax is applied to the value of the boat plus the import duty. The third impost is the Mahad Thai (Interior Ministry) tax, which is equivalent to 10% of the excise tax. Finally, value-added tax, currently 7%, is applied to the sum of the original value of the boat plus all three taxes. The total taxes applicable come to around 209%. Much of the confusion in the past arose from a table of charges that Customs officials use to calculate the excise tax. The first column in this table is headed “Percentage Tax”, and yachts are listed at 50. In fact, the 50 is not a percentage; it is a factor in an arcane formula used to calculate the tax rate. Jan Jacobs of Thai Marine Leisure told the Gazette, “Up to now we have not understood what this multiplying factor is based on, because newspapers have always published the excise tax as 50%.” Narong Srivanitchakorn, Head of the Phuket Provincial Excise Office, admitted that there was confusion even among officials. “Not very many understand well enough how the 111.111% is calculated,” he said, “even in Bangkok.” For owners wishing to see how much it will cost to import a boat, the Gazette Online has created a boat tax calculator, which can be accessed at https://thethaiger.com/boattax.asp.

 

Get more from The Thaiger

📱 Download our app on Android or iOS
👋 Have your say on our Thailand forums
🔔 Subscribe to our daily email newsletter
📺 Subscribe / Join YouTube for daily shows
👍 Like/Follow us on Facebook
🐦 FOLLOW us on Twitter
📷 FOLLOW us on Instagram

image

Join the conversation and have your say on Thailand news published on The Thaiger.

Thaiger Talk is our new Thaiger Community where you can join the discussion on everything happening in Thailand right now.

Please note that articles are not posted to the forum instantly and can take up to 20 min before being visible. Click for more information and the Thaiger Talk Guidelines.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Archiving articles from the Phuket Gazette circa 1998 - 2017. View the Phuket Gazette online archive and Digital Gazette PDF Prints.

Follow Thaiger by email:

Drugs1 hour ago

Police nab 600kg heroin drug bust, year’s biggest in Northeast

Koh Samui4 hours ago

Koh Samui unaccustomed to Covid-19, many act in dismay

Thailand6 hours ago

Bangkok Airways extends flight suspension to August 11

Sponsored2 days ago

Experience Phuket’s Islands with 5 Star Marine

Welcome back to Thailand!

Thaiger is getting behind local businesses for the restart of tourism in Thailand - up to 50% discounts across all advertising packages!

Thailand7 hours ago

7 Jomtien Beach curfew breakers arrested

Thailand8 hours ago

Buri Ram pig stable converted into gambling den: 22 arrests follow

Thailand9 hours ago

“Fake news” banned, Thai media say order infringes on freedoms

image
Join the conversation on the Thaiger Talk forums today!
Phuket9 hours ago

Precarious Phuket: open internationally, closed domestically

Best of9 hours ago

Top 5 tattoo parlours Bangkok

World10 hours ago

Duterte approves lockdown measures for Manila

Best of10 hours ago

The Best Pizza in Bangkok with Delivery

Thailand10 hours ago

Thailand News Today | worker camp woes, ‘fake news’ crackdown | July 30

Best of10 hours ago

Best Premium Hotel Buffets in Bangkok

Coronavirus (Covid-19)10 hours ago

CCSA considers extending restrictions in “dark red” zones for another 14 days

Thailand11 hours ago

Fake dead bodies used in Phuket protest, police plan real investigation

Best of11 hours ago

Top 5 adventure tours in Chiang Mai

Thailand5 months ago

Thailand News Today | Thai Airways in rehab, All go for Songkran | March 4

Tourism5 months ago

Phuket’s nightlife. Yes, bars and clubs are still open | VIDEO

Phuket5 months ago

Thailand News Today | Covid passport talks, Thai Airways heads to court | March 2

Tourism5 months ago

Phuket Thai food treats you need to try | VIDEO

Thailand5 months ago

Thailand News Today | Bars, pubs and restaurants ‘sort of’ back to normal | Feb 23

Tourism5 months ago

In search of Cat & Dog Cafés in Phuket Town | VIDEO

Thailand6 months ago

Thailand News Today | Gambling crackdown, Seafood market to reopen, Vlogger challenge | Jan 21

Thailand6 months ago

Thailand News Today | Covid testing for visas, Business impact, Vaccine approval | January 19

Thailand6 months ago

Thailand News Today | Weekend Bangkok bombs, Thailand fires, Covid update | January 18

Thailand7 months ago

Thailand News Today | Stray car on runway, Indonesian quake, 300 baht tourist fee | January 15

Thailand7 months ago

Thailand News Today | Governor off respirator, sex-trafficking arrest, condo prices falling | January 14

Thailand7 months ago

Thailand News Today | Chinese vaccine, Thailand ‘drug hub’, Covid update | January 13

Thailand7 months ago

Thailand News Today | Bangkok may ease restrictions, Phuket bar curfew, Vaccine roll out | January 12

Thailand7 months ago

Thailand News Today | Covid latest, Cockfights closed down, Bryde’s Whale beached | January 11

Thailand7 months ago

Thailand News Today | Southern floods, Face mask fines, Thai Air Asia woes | January 8

Trending