labels: VAT
The Revenue Department extends the 7% VAT rate for another year, until September 30, 2027.
The Revenue Department confirms that the 7% VAT will remain in effect until September 30, 2570, as per the Cabinet resolution. The tax applies to essential consumer goods, fresh vegetables, meat, and businesses with annual revenue not exceeding 1.8 million baht.The Cabinet has approved extending the 7% VAT rate for another year, until September 30, 2027.
The Cabinet has approved extending the Value Added Tax (VAT) reduction measure at 7% for another year, from October 1, 2026 to September 30, 2027, to help alleviate the cost of living.The National Economic and Social Development Council (NESDC) believes it's not yet appropriate to raise VAT to 10% and confirms that there have been no discussions on raising the public debt ceiling.
The National Economic and Social Development Council (NESDC) believes it is not yet appropriate to raise VAT, even though it is part of the original plan, and that a thorough assessment of the economic situation is needed. The NESDC also revealed that there has been no meeting to consider raising the public debt ceiling.Starting January 1, 2569! The government will collect VAT (Value Added Tax) on imported goods from foreign countries with a value of 1 baht or more.
Starting January 1, 2569! The government will collect Value Added Tax (VAT) and import taxes on goods valued at 1 baht or more. It is confirmed that this will not add any burden to the tax payment process for online shoppers.Raising VAT is a lifeline for the Thai treasury. Lessons learned from other countries: How are VAT increases implemented?
Thailand is facing a public debt ceiling of 70% of GDP, while Thailand's 7% VAT is lower than many ASEAN countries. The National Economic and Social Development Board (NESDB) has learned lessons from the increase.Three economists support Thailand's fiscal reform, suggesting a cautious VAT increase.
Three economists point out that Thailand's fiscal reform is necessary to reduce the risk of a credit rating downgrade. They agree that the government should increase VAT to increase national revenue, but caution should be exercised. The government should not increase VAT on essential goods to minimize the impact on low-income groups, and should seek alternative sources of income and reduce unnecessary expenses.Dr. Ekniti insists that VAT will not be raised, pointing out that it is a plan to increase fiscal stability.
Dr. Ekniti insists that VAT has not yet been raised. He has explained to the Prime Minister that it is part of the medium-term fiscal plan to enhance fiscal stability. He does not want it to become a political issue.The Prime Minister insists that VAT will not be raised, and that he will focus on restoring the country first.
The Prime Minister insists on not raising VAT, insisting on restoring the country first. He points out that if he remains in power, there will be no VAT increase.The Finance Minister plans to increase VAT, but not now. He plans to increase it to 8.5% in 71 and 10% in 73.
The Finance Minister reiterated that VAT is not being raised now because the economy is not ready. He plans to raise the rate by another 1.5% to 8.5% in 2571, and to 10% in 2573, only when the economy reaches its full potential. He pointed out that if the economy is not ready by 2571, a revenue compensation plan must be developed.Deputy Finance Minister Woraphat insists he will not propose a VAT increase, stating that Fitch has downgraded its rating outlook to negative and will not impact Thailand.
Deputy Finance Minister Woraphat insists he has not proposed a VAT increase, but the Ministry of Finance prioritizes fiscal balance and is ready to fully implement the policy within the next four months.
