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The Cabinet of Thailand has approved a series of proposals to reduce excise taxes on alcoholic beverages.

The Cabinet of Thailand has approved a series of proposals to reduce excise taxes on alcoholic beverages.

The excise tax on wine will be reduced from 10% to 5%, and for certain local alcoholic beverages, it will be reduced from 10% to zero.

The Thai government has also approved a temporary reduction in the excise tax from 10% to 5% for entertainment venues, including nightclubs, pubs, and bars. This reduced rate will be effective until December 31, 2024.

According to a representative from the Ministry of Finance, the loss of tax revenue will be offset by additional tourist expenditures.

It is expected that the tax reductions will increase tourist spending on alcoholic beverages by 3%, thereby boosting tourism income by 2.9 billion baht.

The new rules will come into effect after being published in the Royal Gazette.

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