- The Finance Ministry plans to gradually increase VAT to 8.5% by 2028 and to the legal ceiling of 10% by 2030.
- These measures are part of a medium-term fiscal framework (MTFF) aimed at strengthening fiscal stability and restoring investor confidence.
- The MTFF also includes reducing government expenditure, consolidating welfare schemes, and expanding public-private partnerships.
- The government will introduce a stimulus package to support SMEs and launch a program encouraging large corporations to help smaller businesses.
- Plans are underway to reform retirement savings by introducing the Thailand Individual Savings Account to replace existing funds.
Source: bangkokpost.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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