Thailand's Government has confirmed that Value Added Tax (VAT) will remain at 7% until September 2018, despite an expected increase to 8%.
This is largely due to the Thai Chamber of Commerce (UTCC) reports that consumer confidence has risen for fourteen consecutive months, which could be impacted by an increase in VAT. Additionally, there has been a strengthening in the economy, particularly in the export, crop and tourism sectors.
An revision is scheduled annually on the rate of VAT in Thailand.
Now is not the right time to increase the value-added tax, Deputy PM Somkid says