Life for bar owners here in Thailand about to get a little harder

According to the Fabulous 103FM Facebook page life for bar owners here in Pattaya and across the kingdom is set to get a little tougher when further tax increases go into effect.

Following a recent tax increase dubbed the “sin tax” which saw an increase in the amount of tax paid on alcohol and tobacco it appears bars, restaurants and retailers will now be subject to a further tax according to Accounting and Legal company Magna Carta.

The firm states that the new tax on alcohol will go into effect in January of next year and different types of business will have different rates.

Life for bar owners here in Thailand about to get a little harder

The revenue department will allegedly charge a varied rate on the retail value (turnover not profit) of alcohol only sales.

Non Enclosed bars, that’s the likes of the non-air conditioned beer bars and such will be subject to a tax of a minimum of 5% of alcohol turnover.

Enclosed air-conditioned businesses will be subject to a tax of a minimum of 10% of alcohol turnover.

A further class of business yet to be stated but will probably cover the likes of nightclubs will be subject to a tax of a minimum of 15% of alcohol turnover.

The taxes will be paid each month as well as all the current tax rates already in place and annual licenses for premises.

If you think that these tax increases might affect your business you are advised to contact your accountant.

Source : Fabulous103Fm

Content : LovePattayaThailand

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