- Thailand plans to raise its value-added tax (VAT) from 7% starting in 2028.
- The VAT rate will increase to 8.5% in 2028 and reach 10% by 2030.
- The move aims to boost state revenue as part of a medium-term fiscal framework.
- The VAT rate has been at 7% since 1999.
- No VAT increase is planned in the next few years due to the sluggish economy.
Source: news.bloombergtax.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.
Latest Posts in "Thailand"
- Thailand Plans Gradual VAT Increase to 10% by 2030 Under Fiscal Strategy
- Thailand’s e-Tax Invoice System: Digitalizing Business Documents with Voluntary Electronic Invoicing Options
- Finance Ministry Updates VAT Rules for Tax-Deductible Donations to Approved Organizations
- New VAT Rules: E-Donation System Required for Tax-Deductible Donations from 2021 Onward
- Thailand’s VAT Hike: Fiscal Necessity Demands Transparency, Targeted Spending, and Social Safeguards
