The value-added tax (VAT) rate in Thailand has been maintained at 7% for another year.
The previous regulation was set to expire on September 30, 2016.
VAT was first introduced in Thailand in 1992 at a rate of 10%, but was immediately reduced to 7% at the request of the business community and has remained unchanged since then.
According to Prasong Poontaneat, Director-General of the Revenue Department, the Department plans to collect 1.82 trillion Baht in tax revenue for the upcoming fiscal year starting on October 1.
Source: bangkokpost.com