The Cabinet decided today (Wednesday) to retain the 7% value-added tax (VAT) rate on goods and services until September 30, 2024, to stimulate economic recovery through spending on consumer products and services.

Commerce says 10% VAT for 2015 would not affect the Thai economy

Keeping it at 7% will be a relief for consumers and businesses alike, who were worried that VAT might rise to 10%, which would impact spending by consumers.

Full story: thaipbsworld.com

By Thai PBS World