The Revenue Department of Thailand has proposed the Finance Ministry to keep the value-added tax (VAT) rate at 7 percent for another year until the end of September 2017.
Revenue Department chief Prasong Poonthaneat said Monday that the government, in the past year, has meted out various packages to help grassroots people who have been hard hit by drought while
exports are contracting due to global economic slowdown. Increasing VAT rate from 7 to 10 percent will add more burden on the consumers and increase the production costs of business operators. Citing the slow economic recovery and impacts on business operators and the public if VAT is adjusted up.As for the collection of revenue taxes for 2016 fiscal year.