7% VAT extended

7% VAT extended

The cabinet on Tuesday extended the 7% rate for value-added tax for a further two years.

Deputy government spokesperson Rachada Dhnadirek said the rate would remain in force from Oct 1, 2021, to Sept 30, 2023, to support the Covid-affected economy.

The Finance Ministry proposed the extension of the 7% rate to support national recovery, she said.

Prior to the 1997-98 Asian financial crisis, VAT was set at 10%. 

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