Thai Parties Oppose VAT Hike, Warn of Rising Costs for Households and Small Businesses

• Thailand’s main political parties oppose the government’s plan to raise VAT, citing negative impacts on consumers and small businesses.
• The government proposes increasing VAT to 8.5% by 2028 and 10% by 2030.
• Some parties support raising corporate tax instead and suggest delaying VAT hikes until economic recovery.
• Suggestions include increasing the VAT registration threshold for SMEs.
• Critics argue that economic growth and a broader tax base could boost revenue without raising VAT.

Source: malaysia.news.yahoo.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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