Amulet business may now be taxed
The Revenue Department is considering whether to tax enterprises related to the soaring sales of Jatukham Rammathep amulets, a business estimated to be worth Bt20 billion, in order to offset a shortfall in revenue collection as a result of the economic slowdown.
Director-general Sanit Rangnoi yesterday said the department was sending officials to check the estimated income from Jatukham Rammathep transactions. "There is a tremendous amount of money floating round in the amulet market. If the production of the talismans is for commercial purposes, it should be taxed. If the production is done purely out of faith, it may be exempt," he said. "It's the duty of the Revenue Department to find out this information. We are sending officials to gather more details, especially from the various people who are involved with Jatukham Rammathep production," the director-general said. Sanit said that the plan would not be limited to Jatukham Rammathep items, but all amulets and talismans. Jatukham Ram-mathep items are cited as the prime example because an obsession with them has recently swept the nation, and has become large enough to have an impact on the economy. Kasikorn Research Centre earlier estimated that the money generated from Jatukham Rammathep fever, evident from late last year, was worth more than Bt20 billion. Talisman experts said that Jatukham Rammathep fever involved various groups of people, from the production, design, blocking and sourcing of raw materials, to organising rituals and then distribution. Watcharapong Radomsithipat, a talisman expert, said the phenomenon was estimated to have created about 10,000 jobs. He said the Jatukham Rammathep obsession also had a spillover effect on other sectors of society. For instance, a large amount of the money generated is used to repair temples, build stupa and construct schools. This creates demand for construction materials such as cement, steel and bricks, amid a slowdown in the property sector. "The money generated from Jatukham Rammathep moves into the economic system from the grass roots to the macro-economic level. The general public are involved in the production of Jatukham Rammathep items," he added. Another expert, who asked not to be named, said the planned talisman tax would inevitably involve temples because amulets and talismans are anointed and endorsed by the temples, which would also have profit-sharing deals from their sale. If the plan involves temples, the idea of taxing Jatukham Rammathep or other talisman items might be difficult in practice.
Wichit Chaitrong The Nation
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