VAT rate to remain 7% until Sept 30, 2018

By Chalarntorn Yothasmutra

 

 

The value-added tax (VAT) will be kept at the rate of 7% for another year between Oct 1, 2017 – Sept 30, 2018, Revenue Department director-general Prasong Poontaneat said on Oct 3.

 

Mr Prasong said that according to an announcement published in the Royal Gazette on Oct 2, the exact VAT rate is 6.3% while the local tax is 0.7%, making it 7% in total.

 

According to the announcement, the 7% VAT on goods and services will be in effect until Sept 30, 2018.

 

Source: http://englishnews.thaipbs.or.th/vat-remain-at-7-percent/

 

-- © Copyright Thai PBS 2017-10-05

Sure the VAT needs to increase but objections are raised every year and the government backs down. If there was a rate increase of .25% in each of the last 4 years the objective would have been attained with minimal effects.