Thailand to keep VAT rate at 7 per cent for another year

Thai Finance Minister Predee Daochai. - The Nation

BANGKOK (Xinhua): The Thai cabinet meeting on Tuesday (Aug 25) decided to retain the value-added tax (VAT) rate at 7 per cent for all trade transactions, services and imports till the end of September next year.

The new Thai Finance Minister Pridi Daochai said Tuesday that the decision to extend the 7 per cent rate is intended to ease the financial burden on the Thai people and to provide confidence to the private sector.