LATEST NEWS : Great news for Royi Sal customers

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The Thai government has announced plans to cut VAT on materials imported into Thailand for the production of jewelry from 7% to 0%. Speaking at a recent Gem & Jewellery Seminar in Bangkok, Prime Minister Abhisit Vejjajiva pointed out that Thai jewelers and craftsmen were some of the best in the world and had the skills to compete in the global market. He went on to say that the new tax breaks would give Thailand’s jewelry manufacturers a financial advantage that would allow the industry to grow by building on its reputation for excellent jewelry.

The news was met with joy by jewelry manufacturers in Thailand who have long called for such measures to make their prices more competitive in the global marketplace. The sentiment was echoed by Vichai Assarasakorn, president of the Thai Gem and Jewellery Traders Association, who said the tax reforms would help boost the competitiveness of Thailand's gems and jewellery industry.

This is great news for all customers of Royi Sal as the lower production costs will inevitably lead to more competitive wholesale prices. To find out exactly how these new regulations can benefit you, contact one of our sales team here.