- Prime Minister Anutin Charnvirakul assured that the current 7% VAT rate will remain unchanged while Thailand is still recovering.
- Although Thai law sets VAT at 10%, exemptions have kept it at 7% due to economic and social conditions.
- Plans to raise VAT to 8.5% by 2028 and 10% by 2030 are only long-term projections, with no immediate increase planned.
- Anutin emphasized there will be no VAT increase as long as he is in office, despite government fiscal restructuring plans.
- The restaurant industry expressed concern that a VAT hike would raise living costs and inflation, urging targeted implementation if increases occur.
Source: thestar.com.my
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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