Thailand Reject VAT Increase

Finance secretary Somchai Sujjapongse has rejected the National Legislative Assembly’s proposal for a 1% increase in the value-added tax (VAT), saying it does not suit the present economic circumstances

A VAT rise was within the ministry’s purview, but any such decision would depend on the country’s economic situation and the state’s financial position, he said. An increase would not be suitable at this time as the country had recently begun showing signs of economic recovery with growth increasing by 3.3% during the first quarter of this year.

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