Thailand approves tax cuts on booze and night clubs to boost tourism

Taxes on wine will be reduced from 10% to 5% and on spirits from 10% to zero, Chai Wacharonke told reporters, adding that excise tax on entertainment venues will be halved from 10% to 5%.

The tax measures will expire at the end of this year, he said.

The announcement comes after authorities in November extended opening hours for entertainment venues by two hours to 4am for nighttime revelers and tourists.

Tax revenue losses would be offset by additional tourist receipts, Finance Ministry Permanent Secretary Lavaron Sangsnit said in a separate briefing.

Tourism is a key driver of Southeast Asia's second-largest economy. Last year, Thailand reached its target of 28 million tourists, generating 1.2 trillion baht, government data showed.

In 2024, it is targeting more than 34 million tourist arrivals, Lavaron said.