Hoarding happening ahead of booze and cigarettes tax increase

People all over Thailand have begun stockpiling alcohol and cigarettes ahead of the mysterious tax rises.

That is set to come into effect later today over fears that the rise will hike up the prices dramatically.

Wholesalers across the nation’s capital told the media that they can barely keep up with the current demands of the public with many stores running out of stock, some orders are even being turned away as stocks dwindle.

Hoarding happening ahead of booze and cigarettes tax increase

Comments surfaced online where citizens were already complaining that shops had begun increasing the prices on the alcohol and cigarettes before the tax rise had even come into effect.

Grocery stores said that they had ordered more stock than they would normally order ahead of the government rise.

Hoarding happening ahead of booze and cigarettes tax increase

One store owner Sompong Chaisaensuk said he was afraid that the higher tax on the goods could lead to more cases of counterfeit goods or goods being smuggled into the country.

For those planning on hoarding the items to later re-sell at a slightly cheaper rate than the new legal rate, that practice is considered illegal in Thailand due to the Goods and Services Act and can be punishable with a seven year jail term and a 140,000 baht fine.

Source : Coconuts

Content : LovePattayaThailand

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