Paetongtarn Assures No VAT Increase to 15%, Promises Fair Tax Reform

• Prime Minister Paetongtarn Shinawatra confirmed there are no plans to increase VAT to 15 percent
• She addressed public concerns via social media after discussing the issue with Deputy Prime Minister and Finance Minister Pichai Chunhavajira and her policy advisory team
• The government is studying tax structure reforms to ensure fairness, reduce inequality, and boost national competitiveness
• Paetongtarn noted that tax reform in other countries is a slow process, often taking over a decade to study and implement
• The government aims to cut public spending, enhance efficiency, and create new income opportunities for citizens to improve their quality of life
• Paetongtarn emphasized the government’s commitment to prudence, stakeholder engagement, and prioritizing citizen welfare to advance the nation

Source: nationthailand.com

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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