Sporting role for Thailand’s smokers

| February 25, 2015

Thai smokers, who already contribute to the Thai Health Promotion Foundation and the Thai Public Broadcasting Services, will soon be providing money to help the country’s sporting efforts, according to a story in the Bangkok Post.

Retail prices for cigarettes and alcoholic drinks are said to be likely to go up by several baht next month as producers pass on a new two percent sports tax.

The Sports Act passed by the National Legislative Assembly in January and pending publication in the Royal Gazette will require manufacturers and distributors of tobacco products and alcoholic beverages to contribute to a new sports fund at a rate equivalent to two percent of the excise taxes they pay the Finance Ministry each year.

The ministry will collect the money and give it to the sports fund.

The Thailand Tobacco Monopoly, which earns about six billion baht annually in net profit, apparently told the media that its contribution to the sports fund would be about 2.8 billion baht annually.

The monopoly currently contributes 1.6 billion baht to the Thai Health Promotion Foundation and Thai Public Broadcasting Services.

Category: Breaking News

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