ATM machines of different Thai banks at Siam Paragon, Bangkok

Thai cabinet agrees to keep VAT at 7% for another year

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.

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By Thai PBS World


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