Taxes and Duties on Boats in Thailand

[David Jeppesen]

Until recently the taxes and duties on boats brought into Thailand
have been pretty prohibitive. Viz., the below quote is from a posting
from June 2001:

"Currently, a yacht or luxury boat in Thailand is subject to import
duty of 35%, an excise tax of 5%, a luxury tax of 50%, and a
value-added tax of 7%. These imposts are applied cumulatively,
resulting in taxes totaling about 128% of the value of the vessel."

It is my understanding that as of about January of this year, (2004),
the Thai government has become more yacht-friendly, but I do not know
the particulars. Can anyone provide any clarification, and/or amend
the above numbers?

Thank you very much, in advance,
David