- Major political parties in Thailand oppose the proposed VAT increase, citing concerns over economic burdens on households and businesses.
- The government plans to raise VAT from 7% to 8.5% by 2028 and to 10% by 2030.
- The Democrat Party supports increasing corporate tax to 25% and raising the personal income tax exemption threshold, but opposes a VAT hike under current conditions.
- The People’s Party wants VAT increases only after economic recovery and proposes raising the SME VAT registration threshold.
- Pheu Thai opposes the VAT rise, suggesting that expanding the tax base and achieving 3% economic growth could generate more revenue.
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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