Government to maintain VAT rate at 7 per cent

The government has no plan to hike the value-added tax (VAT) in order to achieve the gross domestic product growth target this year of 4 per cent, a senior official said.

Anucha Buraphachaisri, spokesman for the Prime Minister’s Office, said that Thailand had set the VAT rate at 10 per cent under the Revenue Code since the change from the trade tax system to the VAT system in 1992, but the VAT rate had been mitigated.

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The Nation Reporter