BANGKOK (NNT) – The Cabinet has decided to keep the current 7% rate of Value Added Tax (VAT) for at least another two years, along with a deadline extension and penalty reduction for this year’s tax filing.

The Minister of Finance Arkhom Termpittayapaisith, today announced that Cabinet has approved an extension of the current 7% VAT rate on all sales, services, and imports that take place from 1st October 2021 to 30th September 2023, effectively maintaining the current reduced VAT rate for another two years.

Full story: National News Bureau of Thailand

Reporter: Tanakorn Sangiam,
Rewriter: Tarin Angskul
National News Bureau of Thailand