Thai Restaurants Warn VAT Hike Will Hurt Businesses, Raise Living Costs, and Fuel Inflation

• Thai restaurant industry is concerned about the government’s plan to raise VAT.
• Industry warns higher VAT will burden businesses and increase inflation.
• The VAT is set to rise from 7% to 8.5% by 2028 and to 10% by 2030.
• The tax hike is part of a plan to reduce the budget deficit to below 3% of GDP by 2029.
• The public’s cost of living is expected to be severely impacted.

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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