The European Association for Business and Commerce (EABC) has asked the Finance Ministry to adhere to the current excise tax structure on cigarettes after recent reports that the levy may be reviewed.
The new excise tax law is applicable to all excisable goods, not just cigarettes, and after the Excise Tax Act 2017 came into effect all excisable industries adjusted to the new environment. Implementation must be done in a non-discriminatory manner, said Stefan Teuchert, president of the EABC.
"As the finance minister and deputy finance minister have assured the business community all along, the Excise Tax Act 2017 would create a level playing field for all players, both domestic and foreign," he said. "This is in line with the principles of a good tax system, and would enhance foreign business' confidence in doing business in Thailand."
The association's reaction came after reports that state-owned Thai Tobacco Monopoly had asked the ministry to review the cigarette excise tax structure, which went into effect on Sept 16, as TTM sees the new levy as favouring cigarette importers.
