VAT frozen at 7%, rehabilitation plan approved

Published: 7 Aug 2012 at 17.11
Online news: News

The cabinet decided on Tuesday to keep value-added-tax (VAT)at seven per cent for the next two years, deferring the Finance Ministry's proposed hike to nine per cent, and approved a four-point rehabilitation plan proposed by the National Economic and Social Development Board.

Government spokeswoman Sansanee Nakpong said the cabinet agreed to delay the VAT increase until the end of Septembr 2014. The VAT rate will rise to nine per cent on Oct 1, 2014.

It had been planned to increase the VAT rate to nine per cent from the currently seven per cent from Oct 1 this year.

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johninbkk
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Discussion 3 : 08 Aug 2012 at 00.183
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dao 2 - That would cut into the very profitable bribes for border/export/import officials needed to "mislabel" imports. And allowing foreigners to own businesses (ie bring in investment money) would result in the imperialist colonization of Thailand, dontchaknow?
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dao
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Discussion 2 : 07 Aug 2012 at 22.022
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Why not get rid of the protectionist exorbitant luxury import tax which stifles import of anything .Do you have any idea of how much business would be created id people were allowed to sell these things without 100 - 300 % tax and that doesnt even include the people who could now afford these items which are presently only attainable by the ultra rich .
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smiles999
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Discussion 1 : 07 Aug 2012 at 21.591
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Is this a big favor the FM doing to the people ? The VAT has been at 7% for over 2 decades. Let them even move it 1 point and they will be swept out of power...!!
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VAT frozen at 7%, rehabilitation plan approved | Bangkok Post: business