-
The Thai Cabinet extended the standard 7% VAT rate and 6.3% reduced rate until September 2026, delaying the previously planned return to 10% to support economic stability and domestic consumption.
-
The original VAT reduction was introduced after the 1997 financial crisis to ease economic pressures; maintaining lower rates reflects challenges in restoring higher taxes amid fragile growth and public sentiment.
-
The extension ensures continuity and predictability for households, businesses, and investors, highlighting how temporary fiscal measures can evolve into long-term strategies prioritizing consumer spending and economic resilience.
Source: vatabout.com
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
