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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