Thailand's Customs Director reports gold imports hit 900 billion baht in the first 11 months of FY2025, representing 7-8% of total imports—an unusually high figure. He argues for import controls citing concerns over potential scams, lack of tracking on where imported gold flows, and impact on the 1.6 trillion baht trade deficit. Currently, Thailand has no import tax on gold, unlike Malaysia (10%) and India (15%). The Director questions who benefits domestically from such high gold imports and notes this policy decision rests with policymakers, not customs alone.
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