Cabinet freezes VAT at 7 percent for another year

By Thai PBS

 

 

The Cabinet today decided to maintain the value-added tax at 7 percent for another year as of October 1.

 

Mr Natthaporn Jatusripitak, spokesman of Deputy Prime Minister Somkid Jatusripitak, said the Cabinet was concerned that increasing the VAT rate might impact the overall economy, investments and domestic consumption.

 

Increasing the VAT rate above 7 percent as the country’s economic performance is improving would slow down the economy and push up the prices of consumer products and services, said Natthaporn, citing the cabinet’s concern.

 

Source: http://englishnews.thaipbs.or.th/cabinet-freezes-vat-7-percent-another-year/

 

-- © Copyright Thai PBS 2018-07-04

25 minutes ago, webfact said:

"Deputy Prime Minister Somkid said the Cabinet was concerned that increasing the VAT rate might impact the overall economy......."

Or more importantly it might also reduce the PM's already low popularity even further. 

Edited July 4, 20188 yr by Cadbury

9 hours ago, Cadbury said:

Or more importantly it might also reduce the PM's already low popularity even further. 

It is a win of popularity by doing nothing. 

He, someone with common sense.

In my own country The Netherlands after going to the Euro in 2001 VAT increased to 19% (from 17.5%) and increased further in 2012 to 21% .........to stimulate the economy........

It is still 'frozen' at that level.