On 17 September 2024, the Thai Revenue Department announced that the Cabinet (the Council of Ministers of Thailand) had extended the reduction of the standard VAT rate to 7% for another year until 30 September 2025.
The reasons for the continued reduction of the VAT rate are to relieve the tax burden on businesses and consumers and to ensure the Thai economy’s targeted expansion.
The full press release is available here (in Thai).
Source Orbitax
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