Cabinet agrees to keep VAT at 7% for another 2 years
The Cabinet on Tuesday agreed to maintain the VAT rate at 7 per cent for another two years from October 1, 2021, to September 30, 2023. The 7 per cent rate of value-added tax will be collected on sales of goods, services, and all imports (or 6.3 per cent excluding local taxes), said government spokesperson Ratchada Thanadirek.
The rate will not affect revenue projections for fiscal years 2022 and 2023, because income estimates have been calculated in the budget preparation period.
The Nation Reporter
