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New Tax Measures to Boost Tourism

New Tax Measures to Boost Tourism

The Thai government has introduced new tax measures to invigorate the tourism sector during the low season. Deputy Finance Minister Paopoom Rojanasakul confirmed today that these incentives will run from May to November, aiming to stimulate domestic travel and boost the economy.

The initiatives include tax deductions for companies hosting conventions and seminars, encouraging more business-related travel within the country. Additionally, income tax deductions will be offered for expenses incurred on accommodations such as homestays and non-hotel stays, particularly in secondary cities. This move is designed to spread the economic benefits of tourism to less-visited areas.

Prime Minister Srettha Thavisin acknowledged that these measures would result in a revenue loss of 1.5 billion baht (approximately £35 million). However, he asserted that the long-term economic benefits would outweigh the initial cost, stating, “The benefits will be greater.”

Tourism and Sports Minister Sermsak Pongpanich recognized that Thailand’s infrastructure and services still have shortcomings. He pointed out that many destinations lack the development required to meet growing demand, despite the government’s ongoing efforts to improve the nation’s tourism standing over the next four years. “Thailand still has weaknesses in infrastructure and services,” he admitted.

In a related positive development for the tourism sector, Thailand is set to host the filming of “Jurassic World 4,” the latest in the popular Jurassic Park series. The Department of Tourism’s Director General, Jaturon Phakdeewanit, announced that filming will take place from June 4 to mid-July in various locations, including Bangkok, Krabi, Trang, Phang Nga, Phuket, and Chiang Mai.

The film’s production is expected to inject approximately 650 million baht into the local economy, benefiting sectors such as equipment rental, accommodations, venue hire, transportation, and catering. Moreover, the production team will capitalize on the Thai government’s incentive program, which offers a 20% rebate for international films spending over 100 million baht in the country. This incentive aims to attract significant film projects, further boosting the economy.

These efforts highlight the government’s commitment to revitalizing tourism and spreading its benefits across the nation.

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