News
Cabinet agrees to keep VAT at 7% for another 2 years
The Cabinet on Tuesday agreed to maintain the VAT rate at 7 per cent for another two years from October 1, 2021, to September 30, 2023. The 7 per cent rate of value-added tax will be collected on sales of goods, services, and all imports ...
The Nation Reporter
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 ...
The Nation Reporter
Customs urged to seek solutions for tax waivers
The Finance Ministry has ordered the Customs Department to step up its search for ways to reduce the impact of the exemption on import tax and value-added tax (VAT) for imported goods worth up to 1,500 baht, saying such measures are hurting small and medium-sized ...
Wichit Chantanusornsiri
Blockchain VAT refunds this month
The Finance Ministry plans to adopt blockchain-based value-added tax (VAT) refund service for foreign tourists, starting from the end of this month.The blockchain technology for VAT refunds should speed up the process for tourists as details of their purchases will be immediately shared with the ...
Wichit Chantanusornsiri
VAT stays at 7% for another year
Finance Minister Uttama Savanayana confirmed on Tuesday (September 10) that the Cabinet has agreed to maintain value added tax (VAT) at 7 per cent for another year and has vowed to keep a close eye on the economy.Keep reading ...
The Nation Reporter
VAT gradually falling short of 2019 target
The Revenue Department estimates that value-added tax (VAT) collection will fall short of the target for this fiscal year because of waning domestic consumption and the stronger baht, and the shortfall could extend to next year if the situation remains unchanged.Keep reading ...
Wichit Chantanusornsiri
Brighter prospects for e-commerce
Thanks to the growing popularity of online shopping in Thailand, e-commerce is expected to have the brightest growth prospects this year, while book rental, handicraft and conventional furniture are forecast to face the bleakest outlook. Thanavath Phonvichai, vice-president for research at the University of the ...
Phusadee Arunmas
Social welfare cardholders to be exempted from VAT
The Ministry of Finance will seek cabinet approval for its latest scheme to exempt social welfare cardholders from the value-added tax (VAT). Finance Minister Apisak Tantivorawong said today (Sep 09) that the new scheme will help 11.4 million low-income earners enrolled in the social welfare ...
Thammarat Thadaphrom
VAT exemption repeal in view
The Revenue Department says the draft bill on revocation of the value-added tax (VAT) exemption for online purchases of goods worth less than 1,500 baht from vendors outside of Thailand that are shipped by mail will be ready soon. Keep reading ...
Wichit Chantanusornsiri
New law for foreign firms in the works
The Revenue Department plans to propose a law stipulating that foreign entities with no physical presence which earn income in Thailand must report their transactions here to be inspected for value-added tax (VAT) payment.Keep reading ...
Wichit Chantanusornsiri