Thailand gets more businesses to sign up for VAT refund stations

BANGKOK (The Nation/ANN): The Revenue Department is accepting applications from entrepreneurs to open permanent VAT refund stations for foreign tourists in Bangkok to speed up the refund process as well as boost sales of retail shops.

Director-general Ekniti Nitithanprapas said on Wednesday (Jan 15) that currently six entrepreneurs had expressed interest in opening the permanent VAT refund station.

“We will keep the registration period open for now to get as many entrepreneurs as possible, ” he added.

In 2019, some 2.6 million tourists applied for VAT refund, with purchasing value of 46.6bil baht and more than 3bil baht of VAT refunded.

“We hope this year will see more tourists applying for VAT refund thanks to more refund stations, ” he said.

Ekniti also added that his department had cooperated with the Immigration Office in integrating the data of incoming and outgoing foreigners in Thailand via the electronic system with the help of blockchain technology.

“This will help streamline the VAT refund process for foreign tourists and foreign residents in Thailand by eliminating the need to wait in the line and fill forms, as well as reduce mistakes and prevent fraud, as we can immediately identify when each person had entered the country and how much they had spent at each shop.”

The campaign will officially kick off on Friday (Jan 17) at Suvarnabhumi Airport, he added. -The Nation/Asia News Network