Thailand 2026 Luxury Watch Tax Overview
In 2025–2026 Thailand revised luxury watch tax regulations and enforcement across multiple dimensions — affecting both sellers and buyers. Summary from:
- Revenue Department Notification 247/2568 (Jan 2025)
- Customs Department Notification 18/2568 (Jun 2025)
- Excise Tax Act (No. 11) B.E. 2568
- Revenue Department interpretation of Section 40(8) regarding personal sales
Four Main Tax Categories
1. Import Duty
- Rate: 5% of CIF (cost + insurance + freight)
- Stable since 2018 — no change in 2025–2026
- Calculated before VAT
2. Value-Added Tax (VAT)
- Rate: 7%
- Calculated on CIF + Import Duty + Excise (if applicable)
- All importers pay — individual or corporate
3. Excise Tax — New January 2025
Excise Tax Act (No. 11) B.E. 2568:
- Wristwatches valued ≥ ฿300,000: 5% of value
- Watches valued < ฿300,000: no excise
Effect of new excise 2025–2026:
- Thai AD MSRP increased ~5–8% vs 2024
- Rolex Submariner Date 126610LN MSRP rose from ฿389,000 (2024) → ฿422,000 (2026)
- Patek Calatrava 5227G MSRP rose from ฿1,450,000 → ฿1,540,000
4. Income Tax — for Personal Sellers
Revenue Code Section 40(8):
- Personal asset sales (not for trade) = assessable income under Section 40(8)
- Exempt: Sales of personal-use property not held for trade
New interpretation Jan 2025: Sellers transacting ≥6 watch sales in 12 consecutive months are deemed "watch traders" — must:
- Register VAT (if total revenue > ฿1.8M/year)
- File PIT or CIT depending on structure
- Issue VAT invoices and maintain accounting
Personal sellers under 6 sales/year remain exempt.
Buyer Impact in Thailand
1. AD prices up 5–8%
- From new excise tax
- Increases pre-owned Tier 1 premium in Thailand (new buyers avoiding AD waitlist pay more)
2. Pre-owned price cushion
- Holders of pre-2025 pre-owned pieces carry no excise burden — pre-owned supply more attractive
- Submariner 126610LN new AD ฿422k vs pre-owned ฿420k = buyers pay equivalent without 12-month AD wait
3. Personal import
- Bringing pieces from Hong Kong, Singapore — all 4 tax categories apply
- Example: Submariner bought in HK ฿450,000:
- Import duty 5%: ฿22,500
- Excise 5% (value > ฿300k): ฿23,625
- VAT 7% on (CIF + duty + excise): ฿35,128
- Total tax: ฿81,253 (18.1% of value)
- Total Thailand landed cost: ฿531,253 — near Bangkok pre-owned ฿420k + premium
Seller Impact in Thailand
Personal Sellers
If selling <6 times/year:
- No VAT obligation
- No additional tax return required (personal asset sale)
- Keep receipts and proof of personal ownership
If selling ≥6 times/year:
- Must register VAT within 30 days after 6th transaction
- File PND (personal income tax) or PND 50 (corporate)
- Maintain VAT invoices and ledger
Dealers
Pre-existing dealers:
- Second-hand-goods license (Control of Sale by Auction and Trade of Antiques Act B.E. 2474)
- VAT registration
- AML/KYC compliance (Anti-Money Laundering Act B.E. 2542)
- Suspicious Transaction Report for transactions ≥ ฿2M
New in 2026:
- Revenue Department intensified audits of dealers underreporting
- Cross-checking Lazada, Shopee, Facebook marketplace listings against tax filings is now common practice
Declaration for Watches Leaving and Re-Entering Thailand
Customs Department Notification 18/2568 (June 2025): Sellers taking luxury watches outside Thailand (for service abroad, sale via overseas auction) should:
- Declare at exit: complete Personal Effect Declaration form at airport Customs — record reference, code, serial, photos
- Keep stamped declaration as evidence
- Declare at re-entry: use stamped declaration to confirm not a new import
If not declared at exit and brought back in — Customs may assess as "new import" at 18% total tax.
Tourist rules: Tourists bringing luxury watches into Thailand:
- Per-piece value < ฿200,000: passes free
- Value ฿200,000–฿800,000: declared, tax per rate
- Value > ฿800,000: Customs scrutiny + bond at entry
Recommendations for Sellers and Buyers
Personal sellers (1–2 times/year):
- Sell as normal — no additional tax burden
- Keep receipts and proof of original ownership
Frequent sellers (3–5 times/year):
- Monitor transaction count
- Avoid crossing 6-transaction threshold
- If approaching threshold — spread sales over longer period
Business-volume sellers (6+ times/year):
- Register VAT + business entity
- Consider corporate structure for tax efficiency
- Use dealer consignment instead of direct sale (avoid personal tax burden)
Buying in HK/SG and bringing back:
- Calculate total cost (price + 18% taxes)
- Compare with Bangkok pre-owned
- If spread < 18% — Bangkok pre-owned nets better
Send Photos for Evaluation
Send watch photos to LINE @thaiwatchmarket. Response within 10 minutes with price and tax implications guidance for your case.
Sources:
- Revenue Code Sections 40(8), 78
- Excise Tax Act (No. 11) B.E. 2568
- Revenue Department Notification 247/2568
- Customs Department Notification 18/2568
- Anti-Money Laundering Act B.E. 2542
- Control of Sale by Auction and Trade of Antiques Act B.E. 2474
Note: This content is not tax or legal advice. Consult an accountant or lawyer for specific cases.