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January 23, 2012

Customs Valuation Discrepancies May Affect Investment

Business Report Thailand

According to Business Report Thailand, both foreign and Thai companies face inconsistencies in the customs valuation methods used by the Thai Customs Department. Michael Ramirez, Consultant at Tilleke & Gibbins, confirmed that if Thailand does not adhere to World Trade Organization (WTO) standards, investment will inevitably be affected. “Some of our clients have thought long and hard about the uncertainty of having to live in a world in which four or five years down the road, you are facing strong-arming from the DSI [Department of Special Investigation], when you have done everything in your mind that is WTO compliant,” said Michael. “It is an uncertainty that might not warrant you remaining in Thailand.”