-
The Thai Cabinet extended the standard 7% VAT rate and 6.3% reduced rate until September 2026, delaying the previously planned return to 10% to support economic stability and domestic consumption.
-
The original VAT reduction was introduced after the 1997 financial crisis to ease economic pressures; maintaining lower rates reflects challenges in restoring higher taxes amid fragile growth and public sentiment.
-
The extension ensures continuity and predictability for households, businesses, and investors, highlighting how temporary fiscal measures can evolve into long-term strategies prioritizing consumer spending and economic resilience.
Source: vatabout.com
Latest Posts in "Thailand"
- How to Claim a VAT Refund in Thailand: A Step-by-Step Guide for Tourists
- How to Verify a Thailand VAT ID Online: Process, Importance, and Compliance Risks Explained
- Thailand Launches D-VAT & SBT Digital Platform to Streamline VAT and Business Tax Services
- Thailand Updates Input VAT Allocation Rules for Mixed and Out-of-Scope Business Activities
- Thailand Revenue Department to Expedite B160bn VAT Refunds for Business Liquidity
